September 1, 2022

Biz Buzz: Tys bring Japan to PH

Tys bring Japan to PH
Big real estate groups have been going to town with their township projects.
More builders have announced plans to enter the space, which loosely refers to a mixed-use residential, work and commercial community located within or outside an urban area.
With new players coming onboard, it’s natural the Ty family’s Federal Land Inc. wants to stand out.
It partnered with top Japanese developer Nomura Real Estate Development Co. (NRE) to roll out a long-term venture called Federal Land NRE Global Inc.
The companies will build Japanese-inspired smart cities and townships in the coming years.
In fact, Federal Land chair Alfred Ty said they had drawn up a multi-decade plan for about 250 hectares of land that was earlier committed.
These projects would rise along Manila Bay, Cebu and Cavite.
Nomura also brings expertise and technology such as damper systems that make buildings more resistant to earthquakes as well as other water-and energy-efficient features.
The parties have likened the partnership to a marriage. This follows the successful courtship that led to The Seasons Residences in Bonifacio Global City.
Federal Land president Thomas Mirasol, who was once the top executive at Ayala Land’s upscale “premier” brand, is now taking the lead in the developer’s latest pivot.
While keeping most details close to his chest, Mirasol shared they were planning to bring Tokyo’s Omotesandō shopping experience to Manila Bay.
For now, all he would say was they wanted to bring a well-curated Japanese experience that was authentic but not “Disneyland-like.”
That means good execution without being “gimmicky.” Let us see.
Read more: Philippine Daily Inquirer Online – News

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