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Friday, April 19, 2024

MDC, Takenaka form venture for real estate developments

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Makati Development Corp., (MDC) the construction arm of Ayala Land Inc. (ALI), said Monday it finalized an agreement with Japan’s Takenaka Corp. to establish a joint venture company called MDTK Corp.

Takenaka said in a statement posted in its website the joint venture would contribute to “urban creation” in the Philippines by undertaking landmark projects centered on ALI’s properties such as the reconstruction of a shopping mall in Makati.

The joint venture brings together more than 400 years of extensive architecture, engineering, and construction experience and expertise to the country, ALI said in a statement.

Ayala Corp. and ALI chairman Jaime Augusto Zobel de Ayala said the tie-up would enable both parties to integrate best practices into their planned developments.

“The MDC-Takenaka partnership will become an avenue to advance more innovative and sustainable solutions that will benefit the communities that we serve, especially at this time when the Philippines is primed for exponential economic growth,” Zobel de Ayala said.

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Meanwhile, the partnership will also open opportunities for the two companies to take on complex design and construction projects and introduce new technologies and methodologies that will benefit the Philippine construction industry. Jenniffer B. Austria

“Our company has long held a dream of expanding our operations in the Philippines, focusing on the potential of the country’s future and the trust built on the historical exchange of nationalities and cultures between the two nations. With shared values and trust, establishing a joint venture with MDC from the Ayala Group, known for their innovative urban development projects in Makati, BGC, and nationwide, is a significant honor and we are grateful for it,” said Takenaka overseas construction business executive managing officer Shoichiro Shibuta.

Takenaka is one of the five major general contractors in Japan. The company provides architectural, engineering and construction services and has its headquarters in Osaka. It has completed over 5,400 projects across the globe.

The company took part in the construction of Ninoy Aquino International Airport Terminal 3 and Bacolod-Silay Airport early in the 2000s.

It is engaged in constructing the Metro Manila Subway and the Davao City Bypass projects through its group company Takenaka Civil Engineering and Construction.

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