Filinvest Alabang, Mitsubishi Corp. To Further Develop Filinvest City
By Alexei Petrenko
Manila, Philippines – Local conglomerate Filinvest Alabang Inc., a subsidiary of Filinvest Development Corp., and Mitsubishi Corporation, one of Japan’s biggest trading companies, are entering a partnership in which they will establish a multi-tower complex with cutting-edge office facilities. The mixed-use development would benefit their employees and tenants and improve their respective business dealings.
The location of the project will be in the central district of Alabang, particularly in Filinvest City.
The joint-venture agreement between Filinvest and Mitsubishi includes the acquisition of 40% of Filinvest’s property, which is measured around 17,000 square meters and is expected to add at least 184,000 square meters of mixed-use Gross Leasable Area (GLA) to the booming business district of Alabang.
“We are very pleased to enter into an agreement with Mitsubishi Corporation and we are looking forward to this partnership. We are optimistic that our synergy will bring forth another first-of-its-kind development that will complement the growth and vision of Filinvest City.” according to Catherine Ilagan, president of Filinvest.
The budget estimated for this venture is P15 billion.