Federal Land, Nomura Real Estate Development set to bring best of both worlds with new joint venture company

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Alfred Ty, Federal Land Chairman and Eiji Kutsukake, Nomura Real Estate Development Chair. Photo from Federal Land NRE Global, Inc.

Metro Manila (CNN Philippines) — A perfect synergy with the combined strength of the two leading real estate companies is set to deliver unparalleled excellence with the coming together of real-estate giants Federal Land, Inc. and Nomura Real Estate Development Co., Ltd. (NRE).

Celebrating its 50th anniversary, premiere Philippine real-estate developer Federal Land, Inc. continues to elevate experiences and lifestyles through a strategic alliance with leading Japanese real-estate firm Nomura Real Estate Development. Together as Federal Land NRE Global, Inc. (FNG), the group sets to introduce a new way of living.

Led by Federal Land Chairman Alfred Ty and NRE Chair Eiji Kutsukake, the new company – Federal Land NRE Global Inc. – 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. Through Federal Land NRE Global Inc., Federal Land and Nomura Real Estate Development are bringing their respective stellar capabilities intended to elevate the way urban developments are undertaken.

Federal Land NRE Global Inc. 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 located in key cities in Metro Manila, South Luzon, and Cebu. Federal Land Inc. Chairman Ty says, “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.”

Top (L-R) Atsushi Ogata, Nomura Real Estate Development Executive Officer; Thomas Mirasol, Federal Land President; and Yusuke Hirano, Nomura Real Estate Development Executive Officer. Low (L-R) Eiji Kutsukake, Nomura Real Estate Development Chair and Alfred Ty, Federal Land Chairman. Photo from Federal Land NRE Global, Inc.

The joint venture aims to elevate the living experience of customers through the unique fusion of Japanese innovation with Filipino sensibility in its soon-to-be-seen milestone developments. FNG differentiates itself through its push for sustainable smart cities, the presence of Japanese concepts, and its client-first mindset. Through this strategic partnership, Federal Land’s local foothold is bolstered by NRE’s world-class prowess.

The result is a brand of new-level developments that pave the way to better and more dynamic lifestyles for Filipinos.

Ty expounds, “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.”

The symbol of its partnership represented by the logo of Federal Land NRE Global, Inc. was inspired by the forearm handshake, which signifies peace. The logo captures FNG’s core principle, rooted in the spirit of equal partnership and respect between two countries to create new value. The new company aims to make life flourish by creating sustainable urban communities thoughtfully designed to enrich the lives of Filipinos.

Real-estate pioneers

(L-R) Thomas Mirasol, Federal Land President and COO; Alfred Ty, Federal Land Chairman; Eiji Kutsukake, Nomura Real Estate Development Chair; and Yusuke Hirano, Nomura Real Estate Development Executive Officer. Photo from Federal Land NRE Global, Inc.

In 1957, Nomura Real Estate Development Co., Ltd. was established. It had noble beginnings after the group joined large-scale new town development projects to solve housing shortages, a serious social issue after World War II.

In the next years, NRE branched out to the condominium business, and eventually ventured out to property management and real estate brokerage.

Throughout its journey, the group earned a solid reputation for going beyond normal design boundaries while exploring new technologies that better serve the urban landscape of its properties. Today, NRE currently stands as the largest developer in Japan in terms of condominium unit turnover and the fifth largest in consolidated sales.

Their impressive portfolio boasts a diverse range, including residences, offices, retail facilities, logistics facilities, and hotels. They have been the recipient of the Good Design Award for 19 years in Japan and have achieved record-high profits in the fiscal year March 2022.

On the other hand, Federal Land prides itself on developing projects with distinct designs, well-built spaces, and keen market knowledge. It is the property arm of GT Capital Holdings, Inc. With over 50 years of experience, the firm continues to develop residential homes, retail spaces, office buildings, hotels, and master-planned communities.

Known for redefining the Philippine skyline, its landmark projects include the iconic GT Tower International in Makati; the Marco Polo Plaza Cebu and Marco Polo Residences in Cebu; the 36-hectare integrated community in the Bay Area called Metro Park, and the 10-hectare township in BGC, the Grand Central Park, which includes the Grand Hyatt Manila and Grand Hyatt Manila Residences, as well as The Seasons Residences, the first project with NRE.

Partnership beginnings

(L - R) Carmelo Bautista, GT Capital Holdings President; Thomas Mirasol, Federal Land President and COO; Alfred Ty, Federal Land Chairman; Eiji Kutsukake, Nomura Real Estate Development Chair; Atsushi Ogata, Nomura Real Estate Development Executive Officer; and Yusuke Hirano, Nomura Real Estate Development Executive Officer. Photo from Federal Land NRE Global, Inc.

FNG expands a previous tie-up between Federal Land and NRE. Along with Japan’s Isetan Mitsukoshi Holdings Ltd., the proponents first collaborated on The Seasons Residences, a four-tower high-end residential development at Bonifacio Global City featuring distinct Japanese innovations. The partnership also brings the first MITSUKOSHI to the Philippines.

The success of The Seasons Residences cemented NRE’s confidence in Philippine real estate. Kutsukake recounts, “When we were looking for prospective investment opportunities outside Japan, we thought of the Philippines based on our experience with The Seasons Residences. The success led us to understand and foresee the country’s positive market potential and dramatic growth. It also solidified our trust in Federal Land since our first project together further proved that they share the same philosophy as NRE—and that is to build better products with high quality elements while nurturing respect for each other.”

Ty adds, “We have common roots and beliefs. Both originated from financial institutions. Both hold quality and excellence sacred. And both have had decades of real estate experience in our respective markets. NRE’s unrelenting pursuit of innovation, understanding the customer’s needs, and disciplined business practices mirror our own at Federal Land. This joint venture is a triumph of mutual respect, acknowledgment of respective competencies, and a fruitful celebration of cultural and technological exchange.”

Business outlook

Alfred Ty, Federal Land Chairman and Eiji Kutsukake, Nomura Real Estate Development Chair. Photo from Federal Land NRE Global, Inc.

The Philippine property market is raring with optimism in 2022. Rising consumer and investor confidence and the completion of major infrastructure in the country are setting the stage for a sector bound for a significant rebound.

“Launching FNG is an important milestone for Federal Land, a fitting landmark in our timeline as we celebrate our 50th year this 2022. We are also looking forward to supporting the economy’s recovery and opening global opportunities to the country,” says Ty.

“We are thrilled to share our expertise and expand our services further in the Philippines alongside Federal Land,” replies Kutsukake. “With FNG, we are creating more value to provide opportunities and nurture communities in various metropolises in the Philippines.”

The initial project under FNG incorporates four areas of land development with a total area of about 250 hectares in Metro Manila, Cavite, and Cebu. These include an initial pipeline of residential, office, commercial and industrial facilities.

This endeavor also 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 to realize in the next 30 years, as FNG aims to establish its presence in the country and introduce a new lifestyle for the Filipinos.