Hankyu Hanshin Properties to develop 2 more projects near Manila
MANILA, NNA - Japan’s Hankyu Hanshin Properties Corp. will enhance local partnerships to develop two additional projects to build detached and town houses in Philippines, starting in 2020.
With total cost of about 3.1 billion pesos ($61 million), Hankyu Hanshin and P.A. Alvarez Properties and Development Corp. will work on two projects on the outskirts of Manila to accommodate a total of more than 1,700 houses, the Japanese firm said Thursday.
The 500 million-peso Idesia Cabuyao project in Cabuyao of Laguna Province will build 101 detached houses and 185 town houses in the 4-hectare land. The construction starts in January 2020 and completes in 2021.
The housing demand in this area, where the local developer has already built more than 10,000 housings, is expected grow in the future, given that a school, a hospital and commercial facilities are planned to be built.
The Idesia San Jose Del Monte project in San Jose Del Monte of Bulacan Province will cost about 2.6 billion pesos to build 313 detached houses and 1,124 town houses in the 16-hectare land. The project, which will be under construction in September 2020, is scheduled to be completed in 2022.
Together with the local partner, the Japanese real estate developer has been in involved projects in the Philippines to build more than 4,000 housings including the two new tasks.