The Dasmariñas, Cavite-based masterplanned community is the first offering between the two real estate players
MANILA, Philippines – P.A. Alvarez Properties and Development Corporation (P.A. Properties), together with Hankyu Realty Co., Ltd., have broken ground on the 11-hectare project in Dasmariñas, Cavite on Saturday, December 9.
Gracing the groundbreaking ceremony were Dasmariñas Mayor Elpidio Barzaga Jr, and Pag-IBIG Fund Vice President Elmer Gabriel Tugade. Together with P.A. Properties Chairman Romarico “Bing” T. Alvarez and President Jonathan G. Lu, and Hankyu Realty’s Deputy General Manager Toda Masahiko, along with both companies’ officials, they led the capsule laying for the Idesia project.
P.A. Properties from Laguna and Osaka, Japan-based Hankyu Realty signed the joint venture agreement (JVA) in June this year. P.A. Properties is known for building affordable, quality homes in Laguna, Batangas, Cavite, Bulacan, Pampanga, and Metro Manila, while Hankyu Realty of Hankyu Hanshin Holdings, Inc. has been established in Japan for developing attractive, picturesque communities along railway lines.
The first phase of the Idesia masterplanned community is Hankyu Realty’s third overseas project in the Southeast Asian region.
Alvarez said that the joint venture strengthens the 23-year-old P.A. Properties. The company also expects to learn from the expertise and housing technology that the 70-year-old Hankyu Realty could provide.
Hankyu Realty President and CEO Ryuichi Morotomi previously said in a statement that they hoped the partnership would provide good housing for the working people in the Philippines, while continuing to support the growth of the Philippine economy.
The country’s P.A. Properties and Japan’s Hankyu Realty Co., Ltd. are now working together to help realize the dreams of the Filipino people to “live in a place they truly want to live in.”
Through a joint venture agreement, they will undertake the development of an 11-hectare, Phase 1 of a 37-hectare township project in Dasmariñas, Cavite named Idesia.
Idesia Dasmariñas is a masterplanned community development that brings together modern Asian aesthetics and environmentally-friendly features. The Idesia houses are characterized by its clean and contemporary look ― truly designed for starting couples, growing families, and young, urban professionals who simply want to come home after a hectic day at work or spend a staycation during weekends and holidays in the community’s active, recreation, and relaxation zones.
Amenities in Idesia Dasmariñas include gyms, swimming pools, lounge areas, jogging paths, basketball court, bike lanes, children’s playground, pocket gardens, and WiFi hubs.
To know more about Idesia, visit:
About P.A. Properties:
For 23 years, Laguna-based P.A. Alvarez Properties and Development Corporation (P.A. Properties) has established itself a name in the competitive Philippine real estate industry by enabling the public to have their dream homes at affordable rates and payment schemes.
The company, which has already built about 19,000 housing units in Laguna, Batangas, Bulacan, Cavite, Pampanga, and Metro Manila, continues to embark on strategic expansion efforts to further build 15,000 more housing units in the next five years, thereby creating comfortable, safe, and joyful Filipino communities.
P.A. Properties, which has a capitalization of PHP2.8 billion (as of October 2017) and sales of P3.08 billion (in 2016), acknowledges that partnering with Hankyu Realty Co., Ltd. in developing ldesia would not only help the company grow its experience, expertise, and technology, but it will also help the company realize its advocacy of helping ease the more than 6 million housing backlog in the Philippines.
About Hankyu Realty:
Founded on February 17, 1947, Hankyu Realty Co., Ltd. of the Hankyu Hanshin Holdings, Inc. has been known for creating attractive and picturesque developments along the railway lines, adhering to the original philosophy of “Open up a town, build dwellings, and cultivate livelihood.”
Hankyu Realty Co., Ltd. (with a capitalization of JP¥12.43 billion as of August 2017), which line of businesses include land, house, and condominium sales; land use (“minds”); real estate mediation and brokerage; renovation and remodeling; land and building rental management, enters the Philippines through a joint venture agreement with P.A. Properties, as aligned with its full-scale overseas expansion, starting in the Southeast Asian region.
Choosing the Philippines as the third country for Hankyu Realty Co., Ltd. expansion is timely considering the country’s growing economy, which is showing an increased demand for buying a house among the young people, and they see that P.A. Properties is able to address such demand, the company noted.
Overall, Hankyu Realty Co., Ltd. will continue promoting real estate development in ASEAN countries (like Thailand and Vietnam, apart from the Philippines) to make its customers’ dream home come true.
To know more about Hankyu Realty, visit http://www.hankyurealty.jp/company/about/about_e.pdf
To know more about Hankyu Hanshin Holdings, visit http://www.hankyu-hanshin.co.jp/en/
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