Boutique housing developer Ovialand Inc. has partnered with listed Tokyo-based real estate firm Takara Leben to expand its portfolio and bring more affordable premium homes to Filipino families.
Ovialand and Takara Leben are forming a joint venture company that will serve as developer of projects. Takara Leben serves as partner in various projects Ovialand will pursue throughout its strategic regional expansion plans.
“The motivation for this is very simple and straightforward. We want to build more premier quality homes in more areas of the country for the prosperity and happiness of more Filipino families. Ovialand is making homeownership an easy, seamless and pleasant experience for the Filipino homebuyer we are working towards making owning a brand new home as easy as owning a brand new car,” Pammy Olivares-Vital, the company’s president and CEO, said.
Its first project is the Savana South which will complement Ovialand’s market presence in Laguna. Savana South is a 6.5-hectare development of 657 homes that will generate P1.97 billion in sales over four years.
Under the agreement, Ovialand and Takara Leben will open projects together. Their locations will be strategically determined in accordance with Ovialand’s goal of having a nationwide presence by 2030. This year, the company eyes two projects with its new Japanese partner.
The Ovialand and Takara Leben partnership was arranged by SB Capital Investment Corp. as advisor to Ovialand.
Ovialand’s portfolio is focused in Southern Luzon, particularly Savana, Santevi, and Sannera in Batangas; Caliya in Quezon; and Terrazza de Sto. Tomas in Batangas.
The company also has developments in Bulacan through Seriya.
“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,” Vital said.
Hiroshi Iwamoto, Takara Leben director, said the company’s growth strategy in Southeast Asia involves partnering with housing developers that have differentiated themselves from competitors and are yet to fully realize their potential.
“We are excited about what the future holds for our joint venture as we are fully aligned with Ovialand’s core value of bringing the premier family living experience to Filipinos,” he said.
