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Business

Federal Land, Nomura form joint venture

Iris Gonzales - The Philippine Star

MANILA, Philippines — Ty-owned Federal Land Inc. and Tokyo-headquartered Nomura Real Estate Development Co. Ltd (NRE) yesterday unveiled their long-term plan for a newly formed joint venture aimed at introducing a new lifestyle for Filipinos.

Federal Land NRE Global Inc. or FNG marks the next chapter of Federal Land, which will celebrate its 50th anniversary this year.

FNG is set to introduce a new way of living through the unique fusion of Japanese innovation with Filipino sensibility in its soon-to-be-seen milestone developments, said Federal Land chairman Alfred Ty.

“This is a perfect marriage of vision and values. We share a common long-term outlook, anchored on creating world-class developments that enrich the way people live. It’s a true synergy wherein we raise each other’s performance, whether in architecture, technology, construction, management, or most importantly, to the quality of service rendered to our customers,” Ty said in a press conference yesterday.

FNG will initially develop four parcels of land with a total area of about 250 hectares in Metro Manila, Cavite, and Cebu.

The initial pipeline, which will include residential, office, commercial and industrial facilities, aims to create 6,000 job opportunities within the first five years of operations, such as administrative, engineering, and construction-related roles.

This is just the beginning of plans carved and set for development in the next 30 years as FNG aims to establish its presence in the country.

NRE chairman Eiji Kutsukake, who is in the country for the press launch, sees a combined century of impressive local and international real estate experience, outstanding business performance, and comprehensive expertise in all aspects of property development and management.

FNG aims to integrate the best of Japanese innovation, technology, and design with Federal Land’s extensive knowledge of the Philippine market and solid reputation for well-built and innovative properties.

Among its strengths will be its push for sustainable smart cities.

“We aim to make a difference. We want to create real-estate solutions that will elevate the living experience of customers to a higher level. We will introduce master planned communities in strategic locations, innovative features, sustainable solutions, and cutting-edge technologies that fit today’s evolving and modernizing lifestyle. That’s the vision of FNG,” Ty said.

Federal Land president Thomas Mirasol said there are also discussions—though nothing final yet—on expanding to other areas later on such as in the hospitality business, including fitness and retirement accommodations for seniors, which are also part of NRE’s business in Japan.

NRE stands as the largest developer in Japan in terms of condominium unit turnover and the fifth largest in consolidated sales. Its portfolio boasts a diverse range, including residences, offices, retail facilities, logistics facilities, and hotels.

Federal Land, the property arm of GT Capital Holdings Inc., has a portfolio of 65 completed projects, including the iconic GT Tower International in Makati; the Marco Polo Plaza Cebu and Marco Polo Residences in Cebu.

It is also developing the 36-hectare integrated community in the Bay Area called Metro Park, and the 10-hectare township in Bonifacio Global City, the Grand Central Park, which includes the Grand Hyatt Manila and Grand Hyatt Manila Residences, as well as The Seasons Residences, the first project with NRE.

The success of The Seasons Residences cemented NRE’s confidence in Philippine real estate, Kutsukake said.

“It solidified our trust in Federal Land since our first project together further proved that they share the same  philosophy as NRE—and that is to build better products with high quality elements while nurturing respect for each other,” he said.

FEDERAL LAND

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