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Manila Bulletin devider Business devider The Stock Market devider DMCI Homes, Marubeni to jointly build residential condo

DMCI Homes, Marubeni to jointly build residential condo

Published Dec 19, 2023 06:29 am

Quadruple A developer DMCI Homes and Japanese trading conglomerate Marubeni Corporation are teaming up to build a residential condominium along C5 E. Rodriguez Jr. Avenue in Pasig City.

In a statement, DMCI Homes said the two firms have signed a memorandum of understanding (MOU) for a strategic collaboration including the development of The Valeron Tower.

DMCI_Homes_Marubeni_The_Valeron_Tower_C5_Pasig_Roof_Deck.jpg
Artist’s illustration of The Valeron Tower’s roof deck

President Ferdinand R. Marcos Jr. witnessed the signing of the MOU in Tokyo, Japan, on the sidelines of his participation at the Association of Southeast Asian Nations (ASEAN)-Japan Summit.

Among those who attended the MOU signing were Chairman Isidro A. Consunji of DMCI Holdings Inc., the parent company of DMCI Homes, and Taro Kawabe, Executive Officer, COO of Finance, Leasing, and Real Estate Business Division of Marubeni.

The Valeron Tower, a single-tower dual-wing designed condominium, is set to become Marubeni's flagship real estate investment in the ASEAN region, according to Marubeni Corp. Overseas Real Estate Business Department Senior Manager Shinya Matsuo. The project 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.

"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," said Marubeni Philippines Corporation President and CEO Shigeru Shimoda.

DMCI Homes President Alfredo Austria, for his part, said the collaboration signifies a significant step in merging DMCI Homes and Marubeni’s areas of expertise.

"Our collaboration signifies a joint commitment to further enhancing quality living and providing innovative home solutions for homebuyers in the Philippines," Austria said.

With a focus on expanding into the Philippine real estate sector, Matsuo identified DMCI Homes as the ideal partner, citing the company's construction expertise, product differentiation, and a strong sales team.

"We conducted market research over the years, and as a conclusion, we found DMCI Homes to be the best partner," he said.

Meanwhile, 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.

“Our collaboration extends beyond project completion. By leveraging our real estate related business expertise accumulated both in Japan and internationally, we envision a long-term commitment that extends business collaboration between DMCI Homes to include asset management, property management, and building management,” Miyaguchi said.

Acknowledging the maturity of the Philippine market, Matsuo expressed confidence in business expansion, particularly given favorable demographic trends and an increasing population, especially among the younger generation.

The strategic location of The Valeron Tower, along C-5 also adds confidence to the project's success. “The location of The Valeron Tower is strategically positioned along C-5, making it very accessible from any point in the metro,” Matsuo said.

Related Tags

dmci homes Isidro A. Consunji Alfredo Austria MARUBENI CORPORATION
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