Ty family-led Federal Land Inc. has teamed up with Japanese property developer Nomura Real Estate Development Co. to create a P48-billion local joint venture company that aims to deliver world-class township developments.
Nomura will invest $324 million (about P16 billion) for a 34-percent interest in the new company, which will be called Federal Land NRE Global Inc., Federal Land’s parent conglomerate, GT Capital Holdings, disclosed to the Philippine Stock Exchange on Friday.
The disclosure said the joint venture, set to begin operations this April, was expected to bring “milestone developments that mix Japanese inspiration with Filipino sensibility.”
“It differentiates itself from other developers with its push for smart cities, the presence of Japanese retail concepts, and its client-first mindset. Ultimately, it aims to create value in townships with sustainable growth,” it added.
Read more: Business Inquirer