Former senator and Villar Group of Companies chairman Manny Villar tours his newly-opened Starmall in Talisay City, Cebu. (CDN PHOTO/TONEE DESPOJO)
The first of many commercial establishments under the Villar Group of Companies, Starmall Azienda, opened yesterday in Talisay City, Cebu.
Starmall Azienda is the eighth Starmall in the country operated by Masterpiece Asia Properties, Inc.
In his speech, Villar Group of Companies chairman Manny Villar said they already have 25 commercial establishments all over the country.
“We have 25 commercial establishments now under Starmall and Vista Land and Lifescapes, Inc. (Vista Land). We target to build a hundred within the next years all over the country including here in Cebu,” he said.
The Starmall Azienda is located right outside Camella Azienda, a subdivision also developed by Vista Land.
Villar said their goal is to bring the malls closer to the people especially in the communities they developed.
Busy year
The Starmall Azienda is considered a community mall which they usually build in areas with a high concentration of residential communities.
“Two more malls will be opened within the year in other locations. Here in Cebu, we are targeting to open another Starmall in Mactan hopefully next year,” he said.
“There is a lot of projects that we will be doing for both the residential and commercial segments of the business. It will be a busy year for our group,” he said.
Villar earlier said they set a P1 billion target for their leasing income which will eventually account for 20 percent of the company’s total revenues.
The malls will range from a gross floor area of 5,000 square meters to as much as 50,000 square meters.