Federal Land, the real-estate arm of tycoon George Ty’s GT Capital Group, has entered into a joint venture with two major Japanese firms to create a 1.5 hectare, PhP 20-billion Japanese themed residential and retail complex in the Fort, Taguig.
Dubbed the Sunshine Fort Landmark project, the project is the first Philippine venture for Japanese Real-Estate giant Nomura Real Estate Development Company Limited and for Japanese retail giant Isetan Mitsukoshi Holdings Limited.
Nomura Real Estate president Seiichi Miyajima said “This project is memorable to us since this is the first time that we will integrate Japanese concepts of project planning, technology, and knowledge to the Philippine market.”
Federal Land sees Sunshine Fort Landmark as a cornerstone of its 10-hectare Grand Central Park Development within the Bonifacio Global City. It will rise within a 1.5-hectare parcel within the Central Park, right next to the Grand Hyatt Hotel.
Sunshine Fort Landmark will form four 41-51 floor residential towers that will offer 1, 395 middle-income targeted residential units. Federal Land Chair Alfred Ty said “This partnership will introduce a new condominium-living experience through Japanese efficiency and design.” He went on to describe how Japanese technology, designs and know-how will build a modern home- environment that focuses on functionality, simplicity and harmony with the environment.
The two will be joined by department store retail service group Isetan-Mitsukoshi Holdings Limited who is best known for launching and managing a chain of Department Stores across Japan, Europe and the United States. This will be Isetan-Mitsukoshi’s first venture into the Philippine Market.
The residential area will be supported by a 25,000 square meter shopping center that will showcase Japanese brands and products. Isetan Mitsukoshi senior adviser Kunio Ishizuka said that they were hoping to “excite and move every customer… through Japanese style and quality.”
Sunshine Fort Landmark is set to be ready for turn-over to buyers by 2022, but Federal Land Chair Alfred Ty is hoping that the shopping center will be open before that.
* Federal Land Grand Central Park photograph courtesy of their Facebook page.
