Property developer Federal Land and Orix Corp. of Japan formed a joint venture, called Bonifacio Landmark Corp., to pursue a $300-million mixed used facility at The Fort.
The complex will rise on a 1.5-hectare lot at the northeastern part of Bonifacio Global City. It will have a luxury hotel and prime office and residential complex.
Federal Land and Orix will jointly finance and develop the project.
The entire complex will be managed by Grand Hyatt Hotels Worldwide.
The construction of the hotel, Grand Hyatt, is now in full swing and is slated for completion in 2015.
The project will offer 40,000 square meters of premium office space, first-class residential apartments sharing a common podium occupied by high-end retail establishments and a 66-story luxurious condo hotel featuring 450 guest rooms.
BLC chairman Alfred Ty said the partnership with Orix was a vote of confidence not only for Federal Land of the Metrobank Group but also for the Philippines.
“We are delighted to join hands with Orix once again to develop what could truly become another landmark development in the Philippines,” Ty said.