Federal Land IPO ‘sometime in the future’

Richmond Mercurio - The Philippine Star

MANILA, Philippines — Tycoon Alfred Ty, vice chairman of conglomerate GT Capital, is considering listing the group’s property arm Federal Land Inc. once the company has put in place all the necessary components for a successful initial public offering (IPO).

Ty told The STAR that an IPO for Federal Land is not immediate, but it is something being looked at  “sometime  in the future.”

“For now, we just formed this joint venture with Nomura which is FNG, so we’d like to focus on growing that baby. And then take it from there and build the necessary components for a successful IPO sometime in the future,” he said.

Federal Land, which is chaired by Ty, partnered with Tokyo-headquartered Nomura Real Estate Development Co. Ltd in 2022 to form a joint venture called Federal Land NRE Global Inc. or FNG.

With the aim of establishing its presence in the country, FNG has an initial pipeline that includes residential, office, commercial and industrial facilities which are aimed to create 6,000 job opportunities within the first five years of operations.

Yume, a Japanese inspired village within Riverpark in Cavite that was launched late last year, is the first residential horizontal project of FNG.

FNG has also introduced The Observatory, a 4.5-hectare mixed use community in Mandaluyong.

Federal Land earlier this year, reintroduced Riverpark, a 600-hectare multi-use, masterplanned community in General Trias, Cavite.

The property company also launched Meadowcrest, a new 48-hectare neighborhood community along the Sta. Rosa-Tagaytay growth corridor.

A major relaunch and estate improvements for the Met Park community in the BayArea in Pasay are also included in the pipeline with the intent to further bolster the Federal Land Communities product line.

Among Federal Land’s portfolio of completed projects are the iconic GT Tower International in Makati, the Marco Polo Plaza Cebu and Marco Polo Residences in Cebu.

The company launched its first project, the Tytana Plaza and Mandarin Mansion in Binondo, Manila, in 1976.

Federal Land said its expansion into developing contemporary townships built for a new era is a natural progression that reflects the company’s unwavering commitment to innovation and excellence.

For this year, Ty earlier said the company would continue with its high rise developments and hopefully launch more horizontal projects in the  second half.

Federal Land reported revenues of P3 billion in the first quarter, while net income amounted to P291 million.

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