The Villar group is venturing into the telecommunication business initially through the offering of fixed broadband services to the public as an alternative to those provided by existing players.
Manuel Paolo Villar, the eldest son of billionaire and former senator Manuel Villar, said the company was waiting for a congressional franchise to operate and construct telecommunications system across the country before it could start rolling out a fixed broadband venture.
Streamtech Systems Technologies Inc., which is owned by the Villar group, applied for a congressional franchise last month “to construct, install, establish, operate and maintain telecommunications systems throughout the Philippines.”
Villar said the group had a ready market for the planned venture would initially offer the fixed broadband service to homebuyers of communities being developed by real estate unit Vista Land & Lifescapes Inc.
“We have a lot communities and we can provide our fixed board band services so that our homebuyers can avail of our good service,” Villar said.
Villar said he was hopeful that the group’s franchise application would be approved giving the increasing demand from the public for better and faster internet connection.
“From the public’s point of view, they want to have more competition. The government should be planning more franchises because Filipinos really need good service. I don’t think anybody is satisfied with the current service,” Villar said.
Villar said he was confident that the group would be able to provide better broadband connections to customers.
The group is willing to take in foreign and local partners for the venture, he said. But for now the group can operate nationally without getting new partners.
Villar’s Vista Land has an established presence in about 100 cities and municipalities across 37 provinces. Over the next few years, the property firm aims to have presence in 200 cities and municipalities.
Vista Land is also focusing on developing integrated urban developments by combining lifestyle retail, universities, healthcare, themed residential developments and leisure components within its projects.
Aside from residential and mall development, the Villar family has investments in other businesses, including retail, hospitals, death care, power generation, water distribution and mining.