Federal Land, Nomura form joint venture
MANILA, Philippines — Ty-owned Federal Land Inc. and Tokyo-headquartered Nomura Real Estate Development Co. Ltd (NRE) yesterday unveiled their long-term plan for a newly formed joint venture aimed at introducing a new lifestyle for Filipinos.
Federal Land NRE Global Inc. or FNG marks the next chapter of Federal Land, which will celebrate its 50th anniversary this year.
FNG is set to introduce a new way of living through the unique fusion of Japanese innovation with Filipino sensibility in its soon-to-be-seen milestone developments, said Federal Land chairman Alfred Ty.
“This is a perfect marriage of vision and values. We share a common long-term outlook, anchored on creating world-class developments that enrich the way people live. It’s a true synergy wherein we raise each other’s performance, whether in architecture, technology, construction, management, or most importantly, to the quality of service rendered to our customers,” Ty said in a press conference yesterday.
FNG will initially develop four parcels of land with a total area of about 250 hectares in Metro Manila, Cavite, and Cebu.
The initial pipeline, which will include residential, office, commercial and industrial facilities, aims to create 6,000 job opportunities within the first five years of operations, such as administrative, engineering, and construction-related roles.
This is just the beginning of plans carved and set for development in the next 30 years as FNG aims to establish its presence in the country.
NRE chairman Eiji Kutsukake, who is in the country for the press launch, sees a combined century of impressive local and international real estate experience, outstanding business performance, and comprehensive expertise in all aspects of property development and management.
FNG aims to integrate the best of Japanese innovation, technology, and design with Federal Land’s extensive knowledge of the Philippine market and solid reputation for well-built and innovative properties.
Among its strengths will be its push for sustainable smart cities.
“We aim to make a difference. We want to create real-estate solutions that will elevate the living experience of customers to a higher level. We will introduce master planned communities in strategic locations, innovative features, sustainable solutions, and cutting-edge technologies that fit today’s evolving and modernizing lifestyle. That’s the vision of FNG,” Ty said.
Read more: The Philippine Star Online – News