Ayala Land and Rustan's Plan Department Store Chain

Ayala Land Inc. will soon debut into the department store retailing format in partnership with the Rustan’s group by investing in the anchor tenant of a new Ayala shopping center rising in Fairview, Quezon City. This will implement an earlier announced equal joint venture with the Tantoco family’s Specialty Investments Inc. (SII) to pursue opportunities in the Philippine retail sector. 

Fairview Terraces

ALI and Rustan’s are likewise investing in the 24-hour convenience store business under Japanese retailing chain Family Mart, the world’s second-largest convenience store operator.

In a talk with reporters at the sidelines of the Securities and Exchange Commission hearing on foreign capital computation, Ysmael said ALI was now developing a new mall, Fairview Terraces, whose anchor tenant would be a department store co-owned by the Ayala-Rustan’s partnership.

Source: Philippine Daily Inquirer