Federal Land Inc., the property developer of the Metrobank Group., has formed a joint venture
company with Japanese real estate firm Orix Corp. to develop a P4-billion upscale condominium project in Makati City. The
joint venture company will be called Federal Land Orix Corp. It will develop “The Grand Midori Makati"
which will have two towers, 500 units in 35 storeys and will occupy 3,900 square meters along Legaspi Sreet, Legazpi Village,
Makati City PHILIPPINES.
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for greenery and architecture that’s a cut above the rest. A product of an efficacious partnership between FEDERAL
LAND, INC. and ORIX CORPORATION. “THE GRAND MIDORI MAKATI” perfectly blends the ingenuity of Japanese
technology and discipline with Federal Land’s more than 35years of expertise in industry. Come see how “THE GRAND
MIDORI MAKATI” sets a new standard for urban living.
News Column:
Federal, Orix to develop
P4B high-end condo
By ALBERT CASTRO
Federal Land, Inc. yesterday announced its partnership with Japan-based Orix Corp. to develop a P4 billion
high-end residential project in Makati.
The first partnership between the Metrobank-affiliated realty developer and Orix, the project will be marketed
to both Filipino and Japanese markets in the Philippines, according to Federal Land officials.
Dubbed The Grand Midori Makati, the two tower condominium will be developed in a 3,900-square meter property
owned by Metrobank in Legaspi Village, and will have a total of 500 units.
Alfred Ty, Federal Land president, said the units would be sold between P4 million and P12 million with
construction to start in 2009.
"Apart from the local upscale market, we also plan to tap the Japanese market for this project," said Luis
Icasiano, executive vice-president and general manager of Federal Land.
"We look to benefit on the synergy created by this joint venture based on Orix’s expertise and value
added it can impart in our projects," Ty said adding that the partnership with Orix is a part of the company’s strategy
to look for added value that can be contributed in the company’s projects, having partnered with fellow developers like
Robinson’s Land.
Ty is optimistic of prospects in the real estate industry saying "there is a lot of demand in the market."
"So we see the industry will continue (growing) further. We are excited about the prospects in the industry
and what the industry can reach in next five to 7 years," said Ty.
