FILINVEST ALABANG INC. SEALS JOINT VENTURE WITH MITSUBISHI CORPORATION
Filinvest Alabang, Inc. (FAI), a subsidiary of Filinvest Development Corporation, one of the leading, stable and diversified conglomerates in the Philippines, has successfully sealed their joint-venture agreement with Mitsubishi Corporation (MC), a global integrated business enterprise that develops and operates business in various industries.
The parties will jointly develop a multi-tower, mixed use complex in an almost 17,000 square meter of land in the heart of Filinvest City which is envisioned to be a world class development of grade A office spaces complemented with impressive retail concepts.
The partnership confirms a 40% interest in acquisition for MC and an estimated Php 15 Billion project development cost. It is also anticipated to add approximately 183,000 sq.m. of mixed-use GLA to the progressive central business district of the South.
FAI and MC will combine their expertise in the fields of construction, operations and management, and urban development, to build an innovative landmark in Alabang.
“We have been highly anticipating the progress of this project and we are pleased to have reached this phase already. From here on, both FAI and MC are focused on the execution of our shared vision to build a development geared for the growth and success of our business community.” Says Catherine Ilagan, FAI President.
Online toast for the closing of the Joint Venture agreement: Top : Mr. Shunsuke Tanaka – Manager of Asia Real Estate Development, Mr. Masahiro Nagaoka – General Manager of Asia Real Estate Development, Mr. Kenichi Kumemoto – MC Urban Development Division Head. Middle: Mr. Naoshi Ogikubo – MC Urban Development Division COO, Ms. Josephine Gotianun Yap – FAI CEO and Chairman of the Board, Ms. Catherine Ilagan – FAI President & COO. Bottom: Mr. Paolo Ilusorio – FAI Senior Project Development Manager, Ms. Venus Mejia – FAI & FLI Senior VP, Ms. Daphne Odra-Sanchez – FAI Vice President for Project Development and Marketing.
Also present during the online toast: Mr. Keiichi Matsunaga – General Manager MCMNL Branch, Mr. Shusuke Owatari – MC Asia Real Estate Development Dept., Mr. Satoi Mochizuki – MC Asia Real Estate Development Dept., Mr. Dennis Macalisang – Department Manager Urban Development Division, Ms. Girlie Panares - MC Urban Development Division Senior Business Development Officer, Ms. Onessa Juanta - MC Urban Development Division Senior Business Development Officer, Ms. Virgie Delica – FAI Senior Assistant Vice President, Atty. Ron Michael Garcia – FLI Senior Legal Counsel, Ms. Sharlene Talle - Project Development Associate.
About Filinvest Alabang, Inc.
Filinvest Alabang, Inc. (FAI), is a subsidiary of Filinvest Development Corporation, focusing on mixed-use urban developments in Metro Manila using modern and ecological urban planning and design. FAI was incorporated on August 25, 1993 for the development of the massive 244-hectare Filinvest City, a joint venture project with the Philippine government. FAI is 80% owned by FDC and 20% owned by Filinvest Land Inc. (FLI).
FAI has also received a number of accolades such as the prestigious Best Mixed-use Development Philippines award from the Asia Pacific Property Awards in 2016. Last year, the company was once again hailed as one of the top 10 developers in the Philippines, for the third time in the last five years, by the prestigious BCI Asia Awards, with Filinvest City and its Spectrum Linear Park cited as some of its most recent notable developments. A coveted award in the construction industry, BCI Awards is the pioneer and most reputable award-giving body in Southeast Asia, giving out awards annually to remarkable companies in construction and property development in Hong Kong SAR, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. This is FAI’s second win following a similar recognition in 2016. The awards will continue to inspire FAI to raise the bar in the property development industry by Integrating the highest global standards in modern, ecological urban master-planning and design.
About Mitsubishi Corporation
Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses together with its offices and subsidiaries in approximately 90 countries and regions worldwide, as well as a global network of around 1,400 group companies.
MC has 10 Business Groups that operate across virtually every industry: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution and Urban Development. Through these 10 Business Groups, MC’s current activities have expanded far beyond its traditional trading operations to include project development, production and manufacturing operations, working in collaboration with our trusted partners around the globe.
With an unwavering commitment to conducting business with integrity and fairness, MC remains fully dedicated to growing its businesses while contributing to a prosperous society.