Federal Land, Nomura Real Estate ink JV deal

Ty-led Federal Land Inc. has signed a joint venture (JV) agreement with Japan’s Nomura Real Estate Development Co. Ltd. for the development of properties in the country.

Nomura Real Estate will be investing some $324 million (about P16 billion), representing 34 percent of the total capital investment of the new company at P48 billion pesos.

“It is envisioned to permanently redefine the Philippines’ real estate market through class-leading, advanced township developments,” Federal Land said.

This new company called Federal Land NRE Global Inc. wants to deliver “unparalleled excellence” by developing a new urban lifestyle, creating value and sustainable growth, the company said.

As their initial project, it will incorporate four areas of land development with a total area of about 250 hectares in Metro Manila, Cavite and Cebu.

These include an initial pipeline of residential, office, commercial and industrial facilities. It is scheduled to start operations in April 2022.

“We have invested in a joint venture to accelerate business expansion in a rapidly growing market. We will build and aim for development here while promoting combined housing and commercial projects with Federal Land,” Nomura Real Estate Chairman Eiji Kutsukake said. 

“We are committed to demonstrate the strengths of both companies through strong partnership, strategically favorable location, product differentiation, and the introduction of advanced added value.”

Nomura Real Estate is the second-largest real estate developer in Japan in terms of condominium unit turnover as of 2020 and the fifth largest in consolidated sales.

“Today marks a major milestone in the 50-year history of Federal Land. Our late founder, Dr. George S.K. Ty’s love for architecture has molded the company to expand its portfolio into delivering large-scale and quality developments. We are very delighted to bring our partnership with Nomura Real Estate, Japan’s top five developers, to greater heights,” Federal Land Chairman Alfred V. Ty said.

“We intend to provide relevant real estate solutions that increase value over time and leave a positive mark for generations by building sustainable communities with distinct Japanese style and infused with Filipino sensibility.”

Founded in 1957 in Tokyo, Japan, Nomura Real Estate engages in residential development, commercial property development, building leasing, and architectural design businesses across Japan, with business expansions in China, Vietnam, Thailand and the Philippines.

“Nomura Real Estate will introduce advanced technologies and expertise localized for the Philippine market. The Group creates value through real estate development by leveraging its four strengths including a market-in approach that prioritizes living, working, and gathering; and a commitment to quality which we shall present to the Philippine market,” Nomura Real Estate President and Representative Director Daisaku Matsuo said. VG Cabuag

Total
4
Shares

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

Stanley Ng is new PAL president

Next Article

PSE orders trading halt on DITO

Related Posts

Read more

Prime Infra spends ₧134.5M on CSR

The Prime Infra Group of Companies spent P134.5 million on social projects last year and expanded its corporate social responsibility (CSR) approach to fulfill its goal of building better lives and resilient economies.

Read more

Spectrum bags new solar projects

Spectrum, a wholly-owned subsidiary of the Manila Electric Co. (Meralco), has been tapped by Japanese food house Takoyatea and perfume label Aficionado for solar rooftop projects that will result in more savings and reduction of carbon footprint.