REAL ESTATE developer Ovialand, Inc. has teamed up with Japanese real estate firm Takara Leben to expand its portfolio and offer more premium affordable homes to Filipino families, its president announced on Monday.
The first project under the partnership will be the 6.5-hectare Savana South development in Laguna, Pammy Olivares-Vital, Ovialand president and chief executive officer, said during a briefing.
The project will have 657 homes that are expected to generate P1.97 billion worth of sales over four years.
Ovialand and Takara Leben will establish a joint venture company to serve as project developer.
In a separate interview, Ms. Vital said that Ovialand and Takara Leben are aiming to develop at least five projects within three years.
“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,” Ms. Vital said.
“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,” she added.
Under a memorandum of understanding, Ovialand and Takara Leben will open projects across locations determined in accordance with the property developer’s plan to have a nationwide presence by 2030.
Takara Leben Director Hiroshi Iwamoto said the partnership with Ovialand is part of the company’s growth strategy in Southeast Asia.
“Our 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.
Ovialand has developments in Southern Luzon and Bulacan. Some of its developments include Savana, Santevi, and Sannera in Laguna; Caliya in Quezon; and Terrazza de Sto. Tomas in Batangas; as well as Seriya in Bulacan.
Established in August 1989, Takara Leben is a Japanese company involved in the development and sale of condominiums, leasing of real estate, and distribution of real estate. — Revin Mikhael D. Ochave