Pueblo de Oro Development Corporation (Pueblo de Oro) and Takamatsu Philippine Corporation (TPC), the Philippine subsidiary of Japan-listed Takamatsu Corporation, have established a joint venture to pursue real estate investment opportunities in the Philippines, beginning with the expansion of Pueblo de Oro Townscapes Malvar, Batangas.
The joint venture was established following the signing of a shareholders’ agreement between Pueblo de Oro and TPC at a ceremony last month at Dusit Thani Manila in Makati City.
The partnership brings together Pueblo de Oro’s local experience and network in residential and real estate development with Takamatsu’s expertise in construction, real estate development, including residential properties, developed through more than a century of business in Japan. The companies will explore the potential application of Takamatsu’s construction technologies and expertise developed in Japan.
Pueblo de Oro Chairman & CEO Guillermo D. Luchangco welcomes this strategic partnership between two significant players in the real estate development industry of Japan and the Philippines.
“Takamatsu is a partner with significant industry expertise, and we are confident that they will make valuable contributions to Pueblo de Oro in terms of technology, experience, and understanding of our industry as we continue to expand our presence in the local real estate market,” Luchangco said.
He also expressed his appreciation to Mizuho Financial Group of Japan and Investment & Capital Corporation of the Philippines (ICCP) for helping bring the two companies together and facilitate the joint venture partnership. ICCP acted as financial adviser to Pueblo de Oro and Mizuho introduced Takamatsu to ICCP in its search for a joint venture partner for Pueblo de Oro.