Federal Land unveils township development plans
FEDERAL Land, Inc. announced on Thursday its plans to venture into township developments, aiming to create communities where stakeholders can enjoy a complete live, work, and play experience.
The company will develop 10 master-planned, multiuse properties as part of its Federal Land Communities product line, Federal Land said in a statement.
Among these are Grand Central Park in Bonifacio Global City, Met Park in Pasay, and an emerging community in Marikina.
The initial properties are set to lay the groundwork for the development, all of which are planned to be unveiled within the next few years.
Also on Thursday, the company announced its 600-hectare mixed-use development, Riverpark, located in General Trias, Cavite.
“The plan there is to have a combination of residential, commercial, retail, and institutional uses. Part of our plan is to create a central business district in the future,” Federal Land Project Development Group Head Stephen John S. Comia told reporters.
The company, along with its partners GT Capital Holdings, Inc., SM Development Corp., and SM Prime Holdings, Inc., inaugurated the initial phase of the development in June 2022.
He added that this phase of Riverpark’s development would be completed by the end of the year, which includes the property’s initial roads and infrastructure works.
The company’s first product on the property is set to be launched by September under the joint venture company with Nomura Real Estate Development Co. Ltd.
Federal Land NRE Global, Inc. (FNG) will develop a 230-hectare district within the property and plans to launch a horizontal residential area spanning an initial 18 hectares.
The company earlier announced a partnership with the Japanese real estate firm Nomura, which aims to integrate Japanese innovation, technology, and design with Federal Land’s knowledge of the Philippine market and reputation for well-built and innovative properties.
“Federal Land’s partnership with FNG further reinforces its commitment to developing dynamic communities through new developments in three strategic locations, aside from Riverpark in Cavite,” the company said.
Additionally, SM is set to develop a regional mall within the site during the year, Mr. Comia said, “and in the next couple of years, they will also be launching their own residential brands in Riverpark.”
GT Capital Holdings, Inc. is the parent company of Federal Land. Shares for GT Capital rose by 4.21% to P520 apiece on Thursday.
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