Tycoon-politician Manuel B. Villar Jr. is preparing to list another company in the stock exchange—a home depot-format chain that is carving a huge chunk of the booming P500-billion a year home improvement and home appliance market. 

Growth approximates the average 6% rise in real terms of the Gross Domestic Product (GDP) of the past seven years.  

With the explosion in infra spending that will open new middle market communities and expand emerging cities, a 6% annual growth in the home improvement business could be conservative.

Real estate has grown by 6%-9% per year clip over the past 20 years, with no signs of slackening.

Frenetic growth in sales, profits

Indeed, AllHome revenues have increased by an average of 44% in the past three years while profits have leapt by an average of 231% per year during the same period.

According to Euromonitor, the home and garden specialist retail market is expected to grow at an average of 6.1%, from P244.8 billion in 2018 to P328.5 billion in 2023. 

The  electronics and appliance specialist retail market is expected to grow by an average of 4.9% from P185.3 billion in 2018 to P235.7 billion in 2023.

Villar’s one-stop shop home store AllHome Corp. is expected to raise P20 billion for the country’s biggest homebuilder and richest Filipino.

AllHome is barely six years old.  It was incorporated in 2013. 

From incorporation in 2013 to July 2019, AllHome has grown to 27 stores, with total selling space of 215,940 sqm in 22 cities and towns.  Average selling space per outlet is 8,000 sqm, smaller compared with the size of Wilcon Depot, Inc..  AllHome wants to expand the average size of its stores by opening bigger stores under the brand AllBuilders.

Villar’s main property is Vista Land and Lifescapes.  As of June 30, 2019, Vista Land had 31 Vista Malls and Starmalls plus seven offices and 52 commercial centers.

Listed Wilcon Depot is valued by the market at P67.72 billion. From a low of P9.94 On Sept. 21, 2018, share price climbed to its highest of P17.50 on June 26, 2019, up 76% and valuing the company at P71.74 billion, before settling at P16.62 on Sept 9, 2019.

Why AllHome does better

Villar likes to think his AllHome will do better among investors than Wilcon Home Depot.

Firstly, Villar has what you call scale.  He is the nation’s largest homebuilder.  He claims to have built 500,000 homes, more anybody else in this country.

Secondly,  also has a bigger and wider presence.  His companies, Vista Land and Lifescapes and Golden Bria are in more than 145 cities and towns—a network unmatched by any other developer.

Thirdly, he has superior brand recognition and proven track record, under five distinct business units—Brittany, Crown Asia, Camella, Communities Philippines, Vista Residences, housed under an integrated real estate holding company, Vista Land and Lifescapes.

Fourthly, he has synergies. He is now into nearly everything a household or a lifestyle needs — malls, department stores, telephony, water service, hardware, 24-hour convenience stores, memorial parks, drug retailing, coffee shops, schools, and even medical centers, and home depots.  They enhance themed residential and leisure projects in his so-called Communicities.

Manny has parlayed his more than 30 years of experience in housing building and property development to build a conglomerate with greater potential than most other developers.

The stock market seems to value Villar’s Golden Bria, which used to be a chain of memorial parks and funeral before it went public, exceedingly—more than 200 times earnings.  The market values Vista Land, the country’s largest home builder, at about 77x earnings.  

AllHome profile

AllHome Corp. is a pioneering “one-stop shop” home store in the Philippines — from building your home to furnishing it, we believe we have all your home needs.

AllHome product offering spans seven key categories from over 800 local and international brands, including 18 in-house brands. These product categories are furniture, hardware, appliances, tiles and sanitary wares, homewares, linens and construction materials.

AllHome offers customers a unique shopping experience for the home in a comfortable and convenient setting.

Four store formats

There are three store formats:  (1) large mall-based store, ranging from 2,902 sqm to 12,267 sqm in net selling space with an average net selling space of over 9,000 sqm; (2) large free- standing store, ranging from 4,903 sqm to 9,369 sqm in net selling space with an average net selling space of over 8,200 sqm; and (3) small specialty store, ranging from 171 sqm to 696 sqm in net selling space with an average net selling space of over 380 sqm, all under the “AllHome” name.

AllBuilders store

A fourth store format will be introduced, the “AllBuilders” store, before the end 2019.   The  AllBuilders store format offers a more extensive selection of hardware, tiles and sanitary wares, and construction materials.

AllHome believes its range of store formats appeal to homeowners, in-house design consultants, architects and contractors and help them to realize their vision of creating their dream homes and living spaces.

To complement product offerings, AllHome provides special services including styling consultations with in-house design consultants, ready-for-occupancy home furnishing services, delivery, customizable furniture, gift registry services and customer lounges where homeowners, in-house design consultants, architects and contractors can meet to discuss their plans.

Target market

AllHome primarily serves and targets customers within the upper middle income to upper income segment, which according to a study by the Philippine Institute of Development Studies (PIDS), have an average monthly household income of approximately P70,000 and above.

AllHome’s large mall-based and large free-standing stores carry over 250,000 SKUs while the small specialty store carries over 10,000 SKUs.

AllHome claims its wide assortment of products and special services together with our knowledgeable and accommodating staff, provide value for money and deliver a truly one-stop shop experience for all home needs.

Of 25 stores of June 30, 2019, 19 are located in Mega Manila, three in Luzon (outside Mega Manila) and three in Visayas and Mindanao.

20 stores in second half 2019

Two more stores were opened in July 2019.  Twenty more stores will open the rest of 2019, including comprising four large mall-based stores, four large free-standing stores, six small specialty stores and six AllBuilders stores.

By July 31, 2019, two of the four large mall-based stores planned for the second half of 2019 were opened.

AllHome becomes a member of the Villar group of companies (the Villar Group), which also includes Vista Land and Lifescapes, Inc. (Vista Land) and Golden Bria Holdings, Inc. (Golden Bria).

Vista Land is one of the largest integrated property developers in the Philippines, providing a range of housing products to customers across all income segments.

Golden Bria

Golden Bria, through its subsidiary, Bria Homes, Inc. is the largest mass market housing developer in the Philippines.

Since commencing operations in 1977, the Villar Group has built about 500,000 homes as of June 30, 2019.

Vista Land owns and operates various retail malls and commercial centers in key cities and municipalities in the Philippines under the names “Vista Mall” and “Starmalls.”

 Revenues and profits

For each of the year ended Dec. 31 2016, AllHome had revenues of P3.43 billion.  This increased to P4.896 billion in 2017 and to P7.192 billion 2018.  Between 2016 and 2018, revenues swelled 110% or more than doubled.

Net profit was P46.6 million in 2016, more than doubled to P112.6 million in 2017 and grew 4.5 times to P511.4 million in 2018.  First half 2019 revenues were P434.3 million, which if annualized would yield P868 million, an increase of 70% on the whole year 2018 profit of P511.4 million.

• Pioneering “one-stop shop” home store offers a comprehensive selection of products in a fast-growing segment of the retail sector in the Philippines

“We are the only “one-stop shop” home store in the Philippines,” says AllHome. “Our product offerings span seven key categories (furniture, hardware, appliances, tiles and sanitary wares, homewares, linens and construction materials) and two retail segments — the home and garden specialist retail segment and the electronics and appliance specialist retailer segment (collectively, the “Home Improvement and Consumer Appliances Markets”)”

According to Euromonitor, retail sales in the Home Improvement and Consumer Appliance Markets amounted to P430.2 billion in aggregate.

“We are capitalizing on this opportunity, having entered the Home Improvement and Consumer Appliances Markets in 2013 and grown our store network to 27 stores as of July 31, 2019,” says AllHome.

According to Euromonitor, the home and garden specialist retail market is expected to grow at a CAGR of 6.1% from P244.8 billion in 2018 to P328.5 billion in 2023 and the electronics and appliance specialist retail market is expected to grow at a CAGR of 4.9% from P185.3 billion in 2018 to P235.7 billion in 2023.

AllHome offers customers the convenience of fulfilling all their home furnishing and home improvement needs in one location by providing a broad selection of brands and value-for-money products, which differentiates us from its competitors, who offer only a limited number of product categories.

AllHome’s primary store formats—the large mall-based store and the large free-standing store—carry over 250,000 SKUs, enabling it to offer a wider range of products catering to a broad customer base and varying household needs of homeowners.

 Size and scale combined

AllHome believes that the combined size and scale of its stores, comprehensive product offerings and the “one-stop” shopping experience sets us apart from our competitors.

Leveraging on its store network and unique “one-stop shop” proposition, AllHome  believes it is well-positioned to take advantage of the sustained growth of the home improvement retail sector in the Philippines

•Strategic and sustainable expansion plan arising from synergistic relationship with the country’s leading homebuilder

AllHome being  with the Villar Group, including Vista Land and Golden Bria, allows it to locate and launch new stores in parallel with the development of the residential and commercial projects of the Villar Group.

This enables AllHome  to strategically pursue expansion plans to cater to home builders and new homeowners, its key customer base, allowing us to allocate and utilize capital more efficiently.

AllHome also has access to contractors with whom the Villar Group has long-term strategic partnerships who are committed to the Villar Group’s projects, including AllHome’s expansion, in the coming years.

The Villar Group is one of the largest integrated property developers in the Philippines with a presence in more than 145 cities and municipalities nationwide and a land bank of over 3,000 hectares across the country as of June 30, 2019, located in areas in proximity to major roads and primary infrastructure.

Demand for home improvement products from homeowners of the Villar Group provides a large customer base forAllHome stores.

As a member of the Villar Group, AllHome has direct access to homeowners as well as access to information on a significant share of the Philippine home market, giving it an in-depth understanding of customer preferences and the demographics of where a store is located.

Extensive knowledge

AllHome’s extensive knowledge allows it to customize product offerings and offer packages based on a homeowner’s budget and specifications.  Stores are typically located in high retail traffic locations, including shopping malls and residential communities of the Villar Group.

As of June 30, 2019, approximately 92% of AllHome stores were located on properties leased from the Villar Group, all of which were located near Villar Group residential projects, and as of the same date, 22 of the stores are mall-based and are located at Vista Malls or Starmalls.

In addition, as a member of the Villar Group, AllHome also has access to a pool of contractors and have established a long-term relationship with a contractor accredited with the Philippine Contractors Accreditation Board (PCAB), which has a “AAAA” rating from the PCAB.

Being a Villar company provides AllHome strategic access to a manpower complement of over 25,000 people that can be deployed to commence building and fit-out of a new store site.

“We are well-positioned to continue to benefit from the Villar Group’s land bank, extensive project pipeline, in-depth knowledge and resources to select and open new stores strategically and systematically,” says AllHome.

• Strong operational expertise and a scalable business model for future expansion

Having built 27 AllHome stores nationwide as of July 31, 2019 since AllHome’s incorporation in 2013,  the company has accumulated the know-how to efficiently set up and effectively operate a home store.

For each of its store formats, AllHome has established operational principles in terms of store layout and design, inventory management, logistics, staff training system and policies, which can be readily applied to our stores, allowing it to open new stores efficiently while providing a consistent shopping experience to customers across its store formats.

Category specialists

In addition, AllHome has product category specialists for merchandising that ensure the quality and relevance of our product offerings.

It also has store operations managers whose knowledge and expertise deliver better customer service and overall customer experience.

As AllHome pursues expansion,  operational expertise and know-how could reduce store opening costs and timelines, accelerating the ramp up of new stores across the Philippines.

•Differentiated customer shopping experience in a retail ecosystem

AllHome is part of AllValue (the Villar Group’s holding company for its investments in retail businesses), which operates AllDay supermarket, AllDay convenience stores and Coffee Project, among other retail concepts. AllValue Stores are typically located near each other in the same shopping center and in particular, there is a Coffee Project near almost all of our existing AllHome stores.

The diversified retail offerings provided by AllValue, together with other entertainment and lifestyle establishments offered by the Villar Group (such as Vista Cinemas and Market Liberty), creates a retail ecosystem that addresses the various needs of the surrounding residential communities, thereby increasing customer traffic and enhancing the overall shopping experience.

AllHome offers differentiated services to our customers including free interior design consultation, delivery and installation services, customizable furniture, customer lounges and gift registry services.

In-house design consultants and staff are familiar with the specifications and configurations of the housing models of the surrounding Villar Group communities, allowing customers to conveniently select and customize their preferred design to suit the exact layout and measurements of their homes.

 Home furnishing

AllHome  also offers “ready-for-occupancy” home furnishing packages where customers can choose to have AllHome fully furnish and outfit their new home or certain living spaces based on their budget and selected color palette.

These fit-out packages range from approximately P25,000 for a basic living room showcase to approximately P150,000 for a living and dining room package.

AllHome  continuously upgrades and innovates to optimize our store layout and design to maximize space and feature a wider selection of products.

For example, the company stacks furniture and tiles to maximize space and display a greater number of products, through which a customer can easily view and compare our offerings, which we believe can yield higher sales.

Vignettes showcase furniture and give customers design ideas.

These initiatives improve brand image and enhance the overall shopping experience of our customers.

Track record of significant growth and profitability

By leveraging on its expanding store network and business scale, we are able to maximize our bargaining power with suppliers to reduce procurement costs as the volume purchased from suppliers increases.

It is also able to reduce operating costs by negotiating for marketing  support from suppliers for new stores, including promotional support and headcount, among others, to improve profit margin.

It actively analyzes sales data to identify fast moving, slow moving and non-moving items under each product category to identify opportunities for in-house brand development and to eliminate unpopular products.


Its extensive and diverse range of products allows AllHome to maintain flexibility to fine-tune the product mix of a given store with a view to capitalize on the customer demographics and preferences of a particular location.

Having opened 27 stores over a period of over six years, AllHome thinks it has gained the expertise to grow quickly and efficiently. “We constantly strive to improve our margins, productivity and optimize our inventory,” says the company.

The rapidly expanded store network and operational efficiency have delivered strong revenue and net profit growth in the last three years.

Revenues have increased year-on-year at a CAGR of 44.8%, from P3,430.6 million for the year ended Dec. 31, 2016 to P7,192.2 million for the year ended Dec. 31, 2018.


Net profit has increased at a CAGR of 231.3% from P46.6 million for the year ended Dec. 31, 2016 to P511.4 million for the year ended Dec. 31, 2018. During this period of growth, it has significantly improved net income margins from 1.4% in for the year ended Dec. 31, 2016 to 7.1% for the year ended Dec. 31, 2018. For the period 2016 to 2018, our EBITDA increased at a CAGR of 107.5% from P221.6 million for the year ended Dec. 31, 2016 to P954.4 million for the year ended Dec. 31, 2018.

• Experienced and founder-led management team with extensive knowledge of homebuilding markets

AllHome has an experienced and dedicated management team led by founder and Chairman, Manuel B. Villar, Jr., and his children, Manuel Paolo A. Villar and  Camille A. Villar, all three of whom have a proven track record of success. 

Manuel B. Villar, Jr. founded Camella Homes in the early 1970s and successfully managed the company over the years, to become the largest homebuilder in the Philippines now known as Vista Land and the Villar Group. 

Manuel Paolo A. Villar has been CEO and president of Vista Land & Lifescapes Inc. since 2011. 

Camille Villar

Camille A. Villar has been managing all the retail business operations of the Villar Group under AllValue, and together with the chairman has overseen the rapid growth and expansion of the AllValue group of companies, over the last six years.

The vision and entrepreneurial spirit of our management team have played a critical role in establishing the AllHome brand and developing our business.