The real estate landscape in the Philippines has become more exciting and competitive as more joint ventures and partnerships between homegrown developers and Japanese firms have emerged in recent years.
Many Japanese investors have seen the potential and growth of the Philippines as a property investment destination. The fusion of expertise, design styles, and work ethics between Filipino and Japanese firms proves fruitful in elevating the development of real estate in the country.
In 2017, the Ty family-led Federal Land Inc. teamed up with two Japanese firms, Nomura Real Estate Development Co. Ltd. and Isetan Mitsukoshi Holdings Ltd., to jointly develop the $400-million retail and residential complex in Bonifacio Global City.
The partnership of the three companies built The Seasons Residences, a mixed-use development featuring upscale residences, curated amenities, and the first Mitsukoshi mall in the country. This project is promoted to be an outstanding collaboration between Filipino hospitality and sense of community and Japanese aesthetics, excellence, and innovation.
In January 2022, Federal Land again teamed up with Nomura to create a P48-billion local joint venture company that aims to deliver world-class township developments. The new company, called Federal Land NRE Global Inc. (FNG), has laid out plans to incorporate four areas of land development with a total area of about 250 hectares in Metro Manila, Cavite, and Cebu.
Plans include an initial pipeline of residential, office, commercial, and industrial facilities. These plans are expected to generate at least 6,000 new job opportunities within the first five years of operations.
In April 2024, Makati Development Corp. (MDC), the construction arm of Zobel family-led Ayala Land Inc., launched a new company with Japanese firm Takenaka Corp. to explore “complex” design and construction projects in the country.
MDC said that the formation of MDTK Corp. would help introduce new technologies and methodologies that are expected to boost the local construction industry.
MDC is a wholly owned subsidiary of Ayala Land and has so far completed 800 projects spanning commercial, residential, industrial, land development, and infrastructure sectors. The Osaka-based Takenaka, meanwhile, provides architectural, engineering and construction services for over 5,400 projects globally. It has been tapped to help construct the 33-km Metro Manila Subway through Takenaka Civil Engineering and Construction Co. Ltd.
In January 2024, the Olivares family-led housing developer Ovialand Inc. teamed up with listed Japanese real estate firm Takara Leben. The partnership has set out to develop at least five real estate projects in Laguna and Bulacan over the next three years.
Takara Leben director Hiroshi Iwamoto said their growth strategy in Southeast Asia involves partnering with housing developers that have differentiated themselves from competitors but have yet to fully realize their potential.
The first project is called Savana South, a 6.5-ha property with 657 homes under development in San Pablo, Laguna. This development alone is projected to generate P1.97 billion in sales in over four years.
In February 2024, King Properties, a trusted real estate entity in Cebu, signed a partnership with Japan-based Hankyu Hanshin Properties (HPP) Corp. to build two sustainable residential projects at Minglanilla and Liloan: Danarra South and Danarra North.
Both the Danarra North and South projects will consist of budget-friendly townhouses, duplexes, single-attached and detached units, and clustered shophouses that are convertible into commercial areas. These will also integrate sustainable features by utilizing solar panels as energy resources, rainwater tanks for water conservation, and an effective waste management system.
Targeted to be completed in three years, the developments aim to integrate green spaces with amenities such as interactive playgrounds, pet-friendly tree parks, multi-purpose courts, clubhouses, fitness loops, gardens, and swimming pools.
Source: By Marielle Jo Medina, https://business.inquirer.net/458354/filipino-japanese-collaborations-boost-ph-real-estate-landscape