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Manila Bulletin devider Business devider The Stock Market devider Ovialand partners with Japanese firm for premier homes

Ovialand partners with Japanese firm for premier homes

Published Jan 29, 2024 08:50 am

Housing developer Ovialand Inc. has partnered with Tokyo-listed real estate firm Takara Leben to develop about five premier affordable home projects in Bulacan and CALABARZON starting with the P1.97 billion Savana South in Laguna.

In a press briefing, Ovialand President and CEO Pammy Olivares-Vital said Ovialand and Takara Leben will establish a joint venture company that will serve as the developer of the projects.

Ovialand-Takara Leben signing ceremony.jpg
Ovialand President and CEO Pammy Olivares-Vital and Takara Leben Director Hiroshi Iwamoto during the signing of the Memorandum of Understanding between the two companies

Takara Leben will serve as a key partner in various projects Ovialand will pursue throughout its strategic regional expansion plans.

“The motivation for this is very simple and straightforward. We want to build more premier quality homes in more areas of the country for the prosperity and happiness of more Filipino families,” said Vital.

She added that, “Ovialand is making homeownership an easy, seamless and pleasant experience for the Filipino homebuyer we are working towards making owning a brand new home as easy as owning a brand new car.”

The first project will be Savana South, which will complement Ovialand’s market presence in Laguna. Savana South will be a 6.5-hectare development for 657 homes that will generate P1.97 billion in sales over four years.

Under the agreement, Ovialand and Takara Leben will seek to open other projects together. Their locations will be strategically determined in accordance with Ovialand’s goal to have a nationwide presence by 2030.

The partnership between Ovialand and Takara Leben was arranged by SB Capital Investment Corp., acting as advisor to Ovialand.

Currently, Ovialand’s portfolio is concentrated in Southern Luzon, particularly Savana, Santevi, and Sannera in Batangas; Caliya in Quezon; and Terrazza de Sto. Tomas in Batangas. The company also has developments in Bulacan through Seriya.

“Our joint venture with Takara Leben marks our commitment to continue expanding beyond the core markets we serve and build on the successes we have achieved throughout the years,” Vital said

She noted that, “Takara Leben is an experienced developer with a proven track record across various segments of the real estate industry, and we are pleased to be their partner in the Philippines as they continue expanding their presence in Southeast Asia.”

Takara Leben Director Hiroshi Iwamoto said the company’s growth strategy in Southeast Asia involves partnering with housing developers that have differentiated themselves from competitors and are yet to fully realize their potential.

“Ovialand fulfills this criteria through their rapid turnover of high-quality and affordable homes to clients and their ambitious goals of expanding nationwide,” he said.

He added that, “we are excited about what the future holds for our joint venture as we are fully aligned with Ovialand’s core value of bringing the Premier Family Living experience to Filipinos.”

“SB Capital and Security Bank continue to look for creative products and services which add long-term value for our clients. We are confident that this alliance between Ovialand and Takara Leben will lead to continued success for both companies in the future” SB Capital President and CEO Virgilio Chua said.

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