Federal Land NRE Global Inc. (FNG), a joint venture between Federal Land Inc. and Japan’s Nomura Real Estate Development Co. Ltd., announced plans to launch the second tower of its Mandaluyong township project, The Observatory, by the first half of 2026.
The move follows strong sales of the first tower, named Sora (Japanese for “sky”), which has outperformed the company’s previous best-selling project, The Seasons Residences in Bonifacio Global City (BGC). Sora, with 692 residential units, has already sold 60 percent since its launch in July, according to FNG president William Thomas F. Mirasol.
“It’s selling faster than The Seasons Residences, which is surprising given BGC’s consistent demand,” Mirasol said, noting that Mandaluyong is attracting growing interest, particularly from Japanese buyers.
The Observatory spans 4.5 hectares along EDSA and Pioneer Street, beside Robinsons Land’s development. The master-planned community will eventually include nine towers, retail spaces, and an office building. The first phase covers three residential towers and one office tower.
Units in The Observatory are priced at ₱290,000 per square meter — significantly lower than BGC’s ₱460,000 per sqm — appealing to buyers seeking a BGC-style lifestyle at a more affordable cost.
The project emphasizes a blend of Japanese and Filipino influences, showcased in its 1,700-square-meter sales pavilion. Mirasol said the partnership with Nomura leverages both Japanese innovation and Federal Land’s local expertise, tapping into the strong Filipino affinity for Japanese culture and quality.
