The Philippine’s homebuilder Vista Land & Lifescapes plans to extend into shopping centres, with 50 malls to be developed in five years.

The malls, ranging from 5000 to 50,000sqm, will serve the residents of housing estates and apartments to be built by the company and are expected to increase the marketability of the residential projects.

“We have accumulated 65 properties. We want to take advantage of the booming real estate market by putting up retail centers to augment our leasing revenues,” said Manual Villar, founder of Vista Land and a former senator.

The company is now building five malls in its real estate projects under Evia brand in Las Piñas City, Posadas in Sucat, Antipolo, Muntinlupa and San Fernando, Pampanga.

Vista Land’s ventures into shopping malls follows its recently developed partnerships with retailers Rustan Supercenters and Puregold Price Club.

Vista Land concluded a long-term lease agreement with Tantoco-owned Rustan Supercenters which operates Rustan’s Fresh Supermarket which will be the anchor in the first commercial building in Evia development in Las Piñas City.

Vista Land has also forged an agreement with Puregold Price Club that enables the retailer to operate Puregold hypermarkets in its properties in Antipolo and San Fernando, Pampanga.

GB