DMCI Homes, the property development arm of engineering conglomerate DMCI Holdings Inc., and Japanese trading firm Marubeni Corp. have collaborated in the development of The Valeron Tower, a residential condominium rising along C5 E. Rodriguez Jr. Avenue in Pasig.
Among those who attended the signing of a memorandum of understanding were DMCI chairman Isidro A. Consunji and Taro Kawabe, executive officer, COO for finance, leasing and real estate business division at Marubeni.
The Valeron Tower, a single-tower dual-wing condominium, is set to become Marubeni’s flagship real estate investment in Southeast Asia, according to Marubeni’s overseas real estate business department senior manager Shinya Matsuo.
The project is targeted to launch within the first three months next year.
Marubeni Philippines Corp. has a 114-year history of doing business in the country and has participated in numerous infrastructure projects, including various collaborations with DMCI.
This partnership extends to various projects, including the LRT Line 2 East Extension Project, the Maynilad Water Services Inc. consortium and recent initiatives in reforestation and plantation development in Negros Occidental.
“We have fostered a strong relationship with DMCI built on mutual trust. Considering the longevity of our partnership, we anticipate that this business venture will also be long-term. This is just the kickoff,” Marubeni Philippines president and CEO Shigeru Shimoda said.
DMCI Homes President Alfredo Austria said the collaboration marks a significant step in merging DMCI Homes and Marubeni’s areas of expertise.
“Our collaboration signifies a joint commitment to further enhancing quality living and providing innovative home solutions for homebuyers in the Philippines,” Austria said.
Focused on expanding into the Philippine real estate sector, Matsuo said DMCI Homes is an ideal partner given its construction expertise, product differentiation and its strong sales team.
“We conducted market research over the years, and as a conclusion, we found DMCI Homes to be the best partner,” he said.
Matsuo bared confidence in expanding its real estate activities down the line given favorable demographic trends and an increasing population, especially among the younger generation.“The location of The Valeron Tower is strategically positioned along C-5, making it very accessible from any point in the metro,” Matsuo said.
