Federal Land, Nomura partner for Philippines township development

MANILA, Philippines — The Ty Group, through its property arm Federal Land Inc., has forged a strategic partnership with Japan real estate giant Nomura Real Estate Development Co. Ltd. to  develop townships in different parts of the country.

In a disclosure to the stock exchange, Ty-led GT Capital Holdings Inc. said the joint venture, Federal Land NRE Global Inc., would initially develop four areas of land development with a total area of about 250 hectares in Metro Manila, Cavite and Cebu, comprising residential, office, commercial and industrial facilities.

Nomura Real Estate will be investing $324 million or around P16 billion, representing 34 percent of the total capital of the new company at P48 billion.

Federal Land said the joint venture company is envisioned to “permanently redefine the Philippines’ real estate market through class-leading, advanced township developments.”  It is scheduled to start operations in April 2022.

“We are very delighted to bring our partnership with Nomura Real Estate, Japan’s top five developers, to greater heights.” said Federal Land chairman Alfred Ty.

Nomura Real Estate chair Eiji Kutsukake said the joint venture would accelerate Nomura’s overseas expansion.

“We will build and aim for development here while promoting a 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,” said Kutsukake.

The joint venture comes as Federal Land marks its 50th anniversary.

“Our late founder, George S.K. Ty’s love for architecture has molded the company to expand its portfolio into delivering large-scale and quality developments,” Ty said.

The real estate projects would have distinct Japanese style infused with Filipino sensibility, he said.

Founded in 1957 in Tokyo, Japan, Nomura Real Estate engages in residential development, commercial property development, building leasing, and architectural design businesses across Japan, with business expansions in China, Vietnam, Thailand and the Philippines.

“Nomura Real Estate will introduce advanced technologies and expertise localized for the Philippine market. The Group creates value through real estate development by leveraging its four strengths including a market-in approach that prioritizes living, working, and gathering and a commitment to quality – which we shall present to the Philippine market,” said Nomura Real Estate president and representative director Daisaku Matsuo.