Deathcare services provider Golden Haven Memorial Park Inc. said it is accelerating expansion plan with the opening of 12 new memorial parks annually over the next three years.
The plan is faster compared to the initial target of opening seven memorial parks annually. Golden Haven is an affiliate of Vista Land & Lifescapes Inc., a group led by the Villar family.
“We [Vista Land] are already in 100 cities and municipalities and we intend to have one memorial park in each of these locations eventually. It will be easy for us since we already have the land and the organization in each site,” Golden Haven controlling shareholder Manuel Villar said.
“We already have managers in these areas and we can use the same platform to expand nationwide,” said Villar.
Villar said said Golden Haven could ramp up its expansion because it was very liquid and had enough cash from recently held initial public offering and from sales of memorial lots.
Golden Haven has eight operational memorial parks and four more are in the pipeline.
“We should end 2016 with 12 to 14 and add 10 to 12 in 2017. We want to open 12 every year,” Villar said.
Golden Haven will be operating in Zamboanga, Cagayan de Oro, Cebu, Iloilo, in Bulacan, Cavite, Las Piñas, Pampanga, Batangas, Bataan and Nueva Viscaya by the end of the year.
