Filinvest Development Corp (FDC) – a Metro Manila-based multi-service conglomerate with interests across the real estate, resort operation and financial services sectors – has partnered with Japan’s Mitsubishi on the development of a mixed-use office / retail project in Alabang, a rapidly expanding commercial center in the city of Muntinlupa, part of the Philippines’ National Capital Region. Under the terms of the partnership agreement, Mitsubishi will buy a 40% stake in land currently held by FDC subsidiary Filinvest Alabang Inc. (FAI).
Catherine A. Ilagan, FAI’s president, said she remained confident that the two firms’ synergy would produce a development complementary to the growth and vision of Filinvest City. At present, the Filinvest City township is home to a range of tech companies, including several business process outsourcing and knowledge process outsourcing specialists. This new partnership is expected to leverage FAI and Mitsubishi’s respective expertise in the fields of construction, operational management, and urban development.