Federal Land, Japanese partner launch Mitsukoshi mall in BGC

MANILA, Philippines — Federal Land Inc., the real estate firm of GT Capital Holdings, and its Japanese partners are considering putting up more Mitsukoshi branches in the country following the successful launch of the mall’s first branch in the country.

Federal Land, Isetan Mitsukoshi Holdings Ltd. – one of the largest department store groups in Japan – and Nomura Real Estate Development Co. Ltd., a Japanese real estate giant, yesterday held the grand opening of the Philippines’ first Mitsukoshi mall located at Bonifacio Global City.

Federal Land chairman Alfred Ty said plans “are in the works” to open other Mitsukoshi malls in the country.

“We’re talking. We just have to get this off the ground,” he said.

Mitsukoshi BGC soft-opened in November last year.

“The successful launch of the four towers of The Seasons Residences, along with the grand opening of Mitsukoshi BGC, is the fulfillment of imagination and possibilities,” Ty said.

“It is a culmination of a journey and also the beginning of more exciting innovation and offerings in the country’s first Mitsukoshi branch,” he said.

On top of the normal business-related hurdles, Ty said the global pandemic served as a major obstacle and affected the construction schedule as well as confirmation of local and foreign tenants from Japan for the project.

“But thanks to a strong foundation of our partnership that began and developed as early as seven years before the pandemic, through close communication and cooperation, the team in Manila and in Tokyo were able to overcome the obstacles that came our way,” Ty said.

“It is a testament to our desires do not just provide the future residents of the Seasons Residences in our community with a retail component for convenience, but to elevate their lifestyle by bringing in world-renowned department store brand that embodies the customer first principle that in turn creates memorable customer experiences,” he said.

As the Philippines’ first Japanese shopping mall, Mitsukoshi BGC shares the very best of Japanese lifestyle to the Philippines with a grand festival featuring food, fashion, music, the arts, and various cultural hallmarks Filipinos love about Japan.

“After 350 years of service globally, we will continue our legacy by introducing a wide range of Japan to Filipino customers and bring innovations to the Filipino market. Indeed, Mitsukoshi BGC bridges the Philippines with Japan. Following our lifelong philosophy, we aim to enrich our customer’s lifestyles by putting them first and having the mind of a true heart,” Isetan Mitsukoshi Holdings director, president and CEO Toshiyuki Hosoya said.

“When we expanded our business overseas in 2017, we started with the vision of bringing a piece of Japan to the Philippines. Our partnership with Federal Land allowed us to realize this vision and grow it even further. We hope that this affinity continues to grow as we strive to contribute more and more to the development of BGC and the Philippines,” Nomura Real Estate Holdings chair Eiji Kutsukake said.