Federal Land inks $400M venture with Japanese firms
GT Capital group’s property arm Federal Land Inc. has teamed up with two Japanese firms, Nomura Real Estate Development Co. Ltd. and Isetan Mitsukoshi Holdings Ltd, to jointly finance and develop a $400-million retail and residential complex in Bonifacio Global City.
The big property project called Sunshine Fort Landmark, which is targeted for completion by 2025, is pitched as the first-of-its-kind Japanese-inspired residential and retail complex in the Philippines. It will rise within Federal Land’s 10-hectare Grand Central Park development in BGC, right next to the Grand Hyatt Hotel.
Sunshine Fort will have four residential towers, ranging from 41 to 51 floors, which will feature the Japanese elements of functionality, safety, harmony with the environment and simplicity. It will also have a shopping mall to be curated and developed jointly with Isetan Mitsukoshi, featuring Japanese fashion brands, food and cosmetics.
“This joint venture is part of Federal Land, Inc.’s commitment to bring global industry standards in the country to add value to our lifestyle,” Federal Land chair Alfred Ty said during the signing ceremony on Monday.
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