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Philippines' GT hopes Japan property tie-up can emulate Toyota magic

Joint venture with Nomura Real Estate spans projects worth $5.2bn

GT Capital Holdings and Nomura Real Estate have four development projects planned, estimated to cost a total of $5.2 billion. (Photo courtesy of Nomura Real Estate )

MANILA -- Conglomerate GT Capital Holdings, a leading player in the Philippines' banking and auto markets, is now looking to tap the country's real estate boom as its next big growth driver, leveraging the latest in a long line of tie-ups with Japanese partners.

Group company Federal Land recently teamed with Nomura Real Estate to set up joint venture Federal Land NRE Global (FNG). The business has four development projects in the pipeline in the Manila metropolitan area and Cebu, spanning around 50,000 housing units and 6.8 million sq. meters of office space, estimated to cost a total of 750 billion yen ($5.2 billion).

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