Vista Land Signs Up Puregold
Source: Manila Bulletin
Vista Land & Lifescapes, Inc., the country’s largest homebuilder, has signed two long-term lease agreements with Puregold Price Club Inc. for the retailer to open two stores in the property developer’s projects in Luzon.
According to Vista Land, the lease agreements will allow Puregold to es¬tablish and operate a Puregold hypermarket in San Fernando, Pampanga and a Puregold Junior in Antipolo City, Rizal.
Puregold is expected to be the anchor tenant in the Community Malls set up by Vista Land in these locations.
Vista Land said the new agreements form part of a long-term partnership established between Villar-controlled Vista Land and Puregold which is controlled by businessman Lucio Co. Manuel Paolo Villar, Vista Land’s president, said “we have had a mutu¬ally beneficial relationship with Puregold and we are extremely grateful that they have agreed to partner with us.”
“Our company looks forward to strengthening our alliance with Pure¬gold and we will certainly continue to seek opportunities to work with Puregold on other ventures around the country,” he added.
The two companies already have an existing agreement, which has en¬abled Puregold to operate a highly successful supermarket in Vista Land’s 60-hectare Lakefront Development in Sucat, Muntinlupa city.
Vista Land has already developed more than half of Lakefront in Sucat, where it currently offers residential house and lot units under its Brittany, Crown Asia and Vista Residences brands.
The company said that, in conjunc¬tion with its strategy to expand its residential projects around the coun¬try, it has also begun to execute plans to build a leasing portfolio by launch¬ing major commercial developments close to its residential subdivisions nationwide.
Vista Land head of commercial operations Ma. Leni Damasco-Luya said the Community Malls would be located in front of established Vista Land communities in densely popu¬lated areas surrounding Mille Luce in Antipolo, Rizal and Andalusia in San Fernando, Pampanga.
Merchants in these areas will cater to the basic needs of an existing broad and underserved market. The spaces will be premium spaces, with lots of greens and fronting the parking lot, convenient access and flexible mall hours.
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