DMCI Homes and Marubeni Corporation are developing a residential condominium in Pasig City. A memorandum of understanding was signed on 18 December in Tokyo, Japan.
Present at the signing ceremony were President Ferdinand Marcos Jr., DMCI Holdings Inc. chairman Isidro A. Consunji and Marubeni executive officer, chief operating officer of Finance, Leasing and Real Estate Business Division Taro Kawabe.
The upcoming property located along C5 E. Rodriguez Jr. Avenue is a single-tower dual-wing designed condominium, set to become the Japanese trading conglomerate’s flagship real estate investment in the ASEAN region.
“We have fostered a strong relationship with DMCI built on mutual trust. Considering the longevity of our partnership, we anticipate that this business venture will also be long-term. This is just the kickoff,” Marubeni Philippines Corporation president and chief executive officer Shigeru Shimoda said.
The collaboration signifies a significant step in merging DMCI Homes and Marubeni’s areas of expertise, according to DMCI Homes president Alfredo Austria.
“Our collaboration signifies a joint commitment to further enhancing quality living and providing innovative home solutions for homebuyers in the Philippines,” he said.
Marubeni Corp. general manager for Overseas Real Estate Business Department Noritake Miyaguchi emphasized that the commitment goes beyond project development, with Marubeni aiming to contribute Japanese culture, quality and maintenance and construction systems to the local market.
The Valeron Tower is targeted for launch in the first quarter of 2024.
With a rich 114-year history of doing business in the Philippines through Marubeni Philippines Corporation, Marubeni has actively participated in numerous infrastructure projects in the country, including various collaborations with the DMCI Group of Companies. This partnership has extended to various projects, including the LRT Line 2 East Extension Project, Maynilad Water Services, Inc. consortium and recent initiatives in reforestation and plantation development in Negros Occidental.
DMCI Homes is the Philippines’ first Quadruple A real estate developer known for building quality resort-inspired communities in Mega Manila, Baguio, Boracay and Davao City. The company’s portfolio boasts of more than 60 properties since its launch in 1999.