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Federal Land, Isetan and Nomura tie up for $400-M Bonifacio Global City project in Philippine

| Business Development, Philippines | 07/23/2017


Nomura Real Estate Development Co. Ltd. and Isetan Mitsukoshi Holdings Ltd. to invest in a P20-billion residential and retail complex in Bonifacio Global City.

Japan-themed P20-B complex to rise in BGC

Date: July 11, 2017
Source: INQUIRER.NET by Doris Dumlao-Abadilla

GT Capital group’s property arm Federal Land Inc. has teamed up with Japan’s Nomura Real Estate Development Co. Ltd. and Isetan Mitsukoshi Holdings Ltd. to invest in a P20-billion residential and retail complex in Bonifacio Global City.

The Japanese-inspired project called Sunshine Fort Landmark, pitched as the first-of-its-kind in the Philippines, is targeted for completion by 2025. It will rise on a 1.5-hectare area within Federal Land’s 10-hectare Grand Central Park development in BGC, right next to the Grand Hyatt Hotel.

The real estate project is 60-percent owned by Federal Land while the remaining 40 percent stake is split between the two Japanese partners.

Sunshine Fort will have four residential towers with 41 to 51 floors each. It will feature the Japanese trademarks of functionality, safety, harmony with the environment, and simplicity.

“Even prior to this, GT Capital has led the way in establishing partnerships that brings Japanese technology, designs, and the know-how to the Philippines. This partnership will also introduce a new condominium-living experience through Japanese efficiency and design,” Federal Land chair Alfred Ty said during the partnership signing yesterday.

Federal Land president Pascual Garcia III said this BGC project could be classified as a “premium” project targeting the upper middle-income market.

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