M'bishi Estate Residence to launch 1st Philippine housing project
MANILA, NNA - Mitsubishi Estate Residence Co. is embarking on its first housing project in the Philippines to cash in on growing demand for luxurious homes in Metro Manila.
Mitsubishi Estate Residence, a subsidiary of major developer Mitsubishi Estate Co., said in a statement on Wednesday that it is partnering with local developer Vista Land & Lifescapes Inc. to build a 40-story, 1,036-unit condominium in the capital.
The Japanese firm said without mentioning investment amounts that it will hold a 40 percent stake in the housing project. Vista Residences, a condo development arm of Vista Land, will hold the remaining 60 percent.
Construction will begin in 2020, and the condo is scheduled for completion in 2024, Mitsubishi Estate Residence said. (NNA/Kyodo)