Written By: Amy R. Remo
It was another exceptional opportunity to break new ground in the Philippine real estate industry.
Federal Land Inc. has formed a joint venture with Japanese giant Nomura Real Estate Development Co., Ltd. as it sought to push the envelope once more to develop new urban lifestyles and create master planned smart cities that can offer new possibilities through value creation and sustainable growth.
This formidable, trailblazing alliance, which was announced in January this year, led to the creation of Federal Land NRE Global Inc.—envisioned to usher in a new era in the local property scene with its world-class, milestone developments set to rise across Metro Manila, Cavite and Cebu.
But these planned undertakings are going to be more than just a nod to Japanese aesthetics and Filipino sensibility. Federal Land NRE Global’s proposed pipeline of residences, retail and office space projects will prove to be a remarkable fusion of Japanese architectural expertise, advanced technologies and innovation as well as Filipino ingenuity and hospitality—an integration that is set to create new and real value in the Philippine setting.
It was the natural next step for both companies to cement their partnership through a joint venture that will allow them to better seize opportunities in a resilient industry.
To recall, Federal Land and Nomura Real Estate, along with Isetan Mitsukoshi Holdings, formed a partnership in 2017 called Sunshine Fort North Bonifacio Realty Development Corporation to develop The Seasons Residences and MITSUKOSHI at Grand Central Park in Bonifacio Global City.
Through The Seasons Residences, Nomura Real Estate is bringing to the country the much celebrated Japanese innovations and timeless designs that have been proven to elevate standards of comfort, convenience and functionality of spaces. This early, this mixed-use complex has already earned the prestigious 5-Star Award for the “Best in High-Rise Residential Building in the Philippines” category at The International Property Awards for Residential High-Rise Development in the Philippines.
Imagine how much more can be done with Federal Land NRE Global Inc.
Milestone on its 50th year
As Federal Land chairman Alfred V. Ty had put it, this alliance marks a “major milestone in the 50-year history of Federal Land”, noting that they are delighted to bring this partnership with Nomura Real Estate to greater heights.
“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,” Ty said.
Nomura Real Estate chair Eiji Kutsukake was meanwhile quoted as saying that they 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. 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—the largest developer in Japan in terms of condominium unit turnover as of 2021 and the fifth largest in consolidated sales—is investing around P16 billion in Federal Land NRE Global. This is equivalent to 34 percent of the P48 billion total capital investment made in the joint venture company.
“We believe that this partnership will further deepen the relationship of mutual trust that has been fostered through the collaboration in the Sunshine Fort Project, and pursue synergy effects based on the strengths of both parties,” added Daisaku Matsuo, Nomura Real Estate Development president and representative director.
These are exciting times, indeed, for Federal Land NRE Global. With Nomura’s prowess and Federal Land’s expertise in creating landmark projects, one can only anticipate better, more progressive urban development to come.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.