Just when we thought that the real estate front has quieted down comes news about one of the most exciting partnerships ever to be made by a Filipino property developer. Federal Land Inc., one of the country’s most trusted real estate companies, has partnered with two of Japan’s top firms, residential leader Nomura Real Estate Development Co., Ltd., and luxury retail giant Isetan Mitsukoshi Holdings, Ltd.
What makes the partnership doubly exciting is that it will bring global solutions to the properties that will be jointly developed by the three giants. If you still don’t know what this means, it means that designs, and concepts perfected by Nomura Real Estate Development and Isetan Mitsukoshi Holdings will now be introduced into Federal Land, Inc.’s upcoming projects.
Needless to say, given the Japanese tradition of excellence, this partnership will definitely bring Philippine real estate developments another notch higher, placing them among the region’s and the world’s best.
The three giants will work together to develop the Sunshine Fort project, a retail and residential complex soon to rise in Bonifacio Global City. To be developed to the tune of PHP 20-billion, the Sunshine Fort project will include four Japanese inspired condominium towers and the first-ever Isetan Mitsukoshi mall in the country. It will be the crowning glory of the Grand Central Park, a luxury mixed-use development also developed by Federal Land, Inc. which is home to upscale residential condominiums such as the Park West, Central Park West, Madison Park West, Times Square West, Park Avenue and the Grand Hyatt Manila Residences. Business centers, restaurants and shops are also within reach.
Indicating its significance, no less than the top brass of the companies, and Philippine government officials were on hand during the groundbreaking and signing of the partnership. In attendance were GT Capital Holdings Group Chairman, Dr. George SK Ty, Taguig City Mayor LaniCayetano and Executive Secretary Salvador Medialdea.
Just what exactly can we look forward to? Seiichi Miyajima, President of Nomura Real Estate Development, said that the project will integrate Japanese concepts of project planning, technology and knowledge to the Philippine market. This is the first time that this will be done in the Philippines, and it is expected to set a new trend in project execution in the Philippines.
Nomura Real Estate boasts of a proud heritage as one of the foremost real estate developers in Japan. It is involved in the development and sale of condominiums, primarily in the Tokyo area, as well as in leasing office buildings, commercial, warehouses, condominiums, logistics, and other properties for investors. It also provides property consulting, property management and cleaning services for office buildings, schools, housing, and condominiums, as well as supplies district heating and cooling services. It also operates fitness clubs, primarily in the Tokyo metropolitan area. Over the past sixty years, Nomura Real Estate Development has created value for its customers for its integrated system of construction, sales, and management.
Isetan Mitsukoshi Holdings, on the other hand, is into different business segments including retail operation, food manufacturing, and the operation of super markets. It runs Isetan and Mitsukoshi stores, which have outlets across Japan and all over the world. Isetan Mitsukoshi boasts store visits of 200 million a year, far larger than Japan’s population. Isetan Mitsukoshi’s former Chairman and current Senior Advisor Kunio Ishizuka said that they will try their best to “excite and move customers in the Philippines” which is their fourth overseas business in Asia. It’s a promise that is definitely sure to captivate everyone’s imagination, given how the company has elevated the retail experience with its brand of customer service.
Federal Land, Inc., for its part, has logged 45 years experience and deep knowledge of the Philippine market. Federal Land, Inc. has been open to foreign partners on a per project basis as it seeks to bring innovative solutions to its developments. Federal Land, Inc. President Pascual M. Garcia III said that the partnership with the Japanese titans is part of the company’s efforts to bring better products to the Filipino people.
The Sunshine Fort project will only be the beginning of a strong partnership that could possibly grow much bigger and lead to the introduction of more global solutions to the country. Garcia himself shared his aspirations, “We hope that this partnership, based on the foundation of mutual respect and trust, is only the beginning of more projects in the future.”
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