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MERRYMART Consumer Corp., an upcoming grocery chain led by businessman Edgar J. Sia II, has signed a 15-year long-term lease contract with property developer Ayala Land Inc. to build stand-alone full-sized supermarkets in its properties in Laguna and in Tarlac.

The company said its grocery in Nuvali in Santa Rosa in Laguna will have 2,261.21 square meters in size while its branch in Cresendo in Tarlac will have about 2,076.90 square meters of retail space and will be surrounded by parking areas.

The new stand-alone full-sized supermarket design of Merrymart Grocery will be the format intended for locations in sprawling horizontal communities, the company said.

It is intended to be an eco-friendly supermarket with roof solar panels, LED-lighting fixtures and use of power efficient equipment with bicycle slots and electric car charging provisions. The format will carry the full line of grocery, pharmacy, personal care and other basic essential products, the company said.

“The Merrymart Group is glad to have the opportunity to soon serve and delight consumers around the vast community developments of Ayala Land in Nuvali in Laguna and Cresendo in Tarlac,” Sia said.

Merrymart has recently formed a new subsidiary MM Consumer Technologies Corp. with MBOX Smart Lockers as the first in its consumer technology portfolio.

MM Consumer Technologies’s portfolio is expected to complement the consumer centric ecosystem of the Merrymart group, according to the company.

The company’s organic branch expansion and recent acquisitions totals to 105 branches nationwide. Merrymart has set its vision 2030 with the goal of a total of 1,200 branches nationwide aims to generate P120 billion in systemwide recurring consumer sales revenue.

The company said its income for the first quarter of the year through March rose 31 percent to P12.4 million from last year’s P9.45 million. Revenues for the period reached P1.19 billion 30 percent higher than last year’s P915.85 million.

Sia said with the consolidation of the latest acquisitions and Merrymart’s organic growth in stores, it expects to exceed the P5 billion revenue mark this year to more than double its revenue two years ago in 2019.

“The next very important goal will be to reach P12 billion revenue mark as soon as possible, then from that point onwards we expect a far higher velocity of revenue growth velocity towards the P120 billion revenue goal that we have set for 2030,” he said.