Golden Arches Development Corp (GADC) is planning to invest up to PHP2 billion (US$38.4 million) so McDonald’s Philippines can open at least 40 new stores this year.

Majority owned by chairman/founder Dr George Yang and his family, GADC is the master franchise holder of McDonald’s in the Philippines and has been a wholly owned Filipino company since 2005.

The firm says McDonald’s is committed to growing its foothold in the Philippine market through store expansion and digital innovation. The brand last year opened 52 stores across the country and reached new territories.

Apart from store openings, menu innovations and marketing activities helped McDonald’s Philippines reach PHP42.6 billion system-wide sales last year, up 14 per cent on 2016.

McDonald’s Philippines president Kenneth Yang says services such as McDelivery have helped the group further expand its market share and post the fastest growth in the quick-service restaurant (QSR) industry.