MDC, Takenaka form joint venture firm

MANILA, Philippines — Makati Development Corp. (MDC) and Takenaka Corp. of Japan have partnered to establish a joint venture company, MDTK Corp.

Jaime Augusto Zobel de Ayala, Ayala Corp. and Ayala Land Inc.  (ALI) chairman, said the joint venture integrates best practices in the industry.

“This is a wonderful opportunity for our teams to integrate best practices into our developments. The MDC-Takenaka partnership will become an avenue to advance more innovative and sustainable solutions that will benefit the communities that we serve, especially at this time when the Philippines is primed for exponential economic growth,” Zobel said.

The joint venture brings together more than 400 years of extensive architecture, engineering and construction experience and expertise to the country.

“The MDC community looks forward to collaborating with Takenaka to exchange best design and construction practices and technologies that will benefit both our organizations, the construction industry, and most importantly – the people that we serve. Through MDTK, we look forward to using our combined expertise, learnings, and resources to enhance land and enrich the lives of Filipinos,” Dante Abando, ALI SVP, MDC president and CEO and MDTK chairman said at the ceremonial launch event held last March 21, 2024 in Makati City.

Furthermore, the partnership signals a significant milestone that will open opportunities for the two companies to take on complex design and construction projects, and introduce new technologies and methodologies that will benefit the Philippine construction industry and the Filipino people.

“Our company has long held a dream of expanding our operations in the Philippines, focusing on the potential of the country’s future and the trust built on the historical exchange of nationalities and cultures between the two nations. With shared values and trust, establishing a joint venture with MDC from the Ayala Group, known for their innovative urban development projects in Makati, BGC, and nationwide, is a significant honor and we are grateful for it,” said Shoichiro Shibuta, executive managing officer for Takenaka Overseas Construction Business.

MDTK president Robert Baffrey said MDTK would be driven by a vision of becoming the trusted partner of its customers and stakeholders by delivering value-adding solutions through advanced design and build expertise.

“We aim to create sustainable developments and contribute to nation-building through innovation and technology, construction excellence, and extraordinary teams,” Baffrey said.