The Villar Group led by former Senate president Manuel Villar is venturing into casino, telecommunications and infrastructure amid its bullish outlook on the economy under the Duterte administration.
Paolo Villar, the eldest son of Villar and who heads the family’s real estate arm Vista Land & Lifescapes Inc., said the group was looking at these sectors to help boost the domestic economy.
Villar said the group’s real estate properties could potentially house the planned casino venture.
He said on the the telecommunication side, the group was involved in several property developments across the country that needed telecommunication-related infrastructure.
“We are seriously looking at casino and telecommunication,” Villar said.
Villar said the group was also looking at possible partners for the planned casino and telecommunication ventures.
He did not provide details on the diversification into new sectors and which vehicle the group would use to undertake the projects.
Villar-owned Streamtech Systems Technologies Inc. applied for congressional franchise last year “to construct, install, establish, operate and maintain telecommunications systems throughout the Philippines.”
Villar plans to initially provide fixed broadband services to homebuyers at communities being developed by Vista Land.
The Villar group is primarily into property development through listed firms Vista Land, which owns the Camella brand; mall developer Starmalls Inc.; and memorial park developer Golden Haven Inc.
Villar, who lost in the 2000 presidential elections, ventured into retail development with the establishment of All Value, which owns and operates AllHome, a home improvement and builders’ center; All Day Supermarket; All Day Convenience Store; Coffee Project; Bake my Day pastry shop; All Sports; and AllToys.
Villar said the group was also looking at unsolicited infrastructure projects, including an airport project.
“Other groups are looking at infrastructure. So we are definitely looking at infrastructure sector and definitely we have some projects in mind,” Villar said.
Villar said the family would not venture into toll road projects because his brother, Mark Villar, is currently the secretary of Department of Works and Highways.
“Obviously, we are optimistic about on the Philippines over the next few years. That is one the key reasons why we are getting into all these things. The conditions have been set for growth. We are expecting growth and so we are planning for growth,” he said.