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P.A. Properties, Hankyu Realty break ground of joint venture development

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P.A. Properties Chairman Romarico T. Alvarez and President Jonathan G. Lu (13th and 15th from left) lead the groundbreaking ceremony for Idesia, its joint venture project with Japan’s Hankyu Realty Co., Ltd. Present during the occasion are Hankyu Realty’s Deputy General Manager Toda Masahiko (11th from left); Pag-IBIG Fund Vice President Corporate Sales Group Elmer Gabriel Tugade (9th from left) and Dasmariñas Mayor Elpidio Barzaga Jr (10th from left), other officials from both companies, and other VIPs.

The joint venture between the Laguna-based P.A. Alvarez Properties and Development Corporation (P.A. Properties) and Japanese real estate firm Hankyu Realty Co. Ltd. has borne fruit as the two companies broke ground of the first phase of their Idesia township project in Dasmariñas, Cavite.

Breaking ground on Dec. 9, 2017, the 11-hectare, Phase 1 masterplanned community seeks to attract middle-income Filipinos, particularly starting couples, growing families, young professionals, and overseas Filipino workers and their families. Offering about 900 residential houses comprised of three different model units, Idesia will bring together modern Asian aesthetics and environmentally friendly features.

The houses, single detached, single attached, and townhouse units, are characterized by their clean and contemporary look. Gaia, the two-storey single detached model offers 63 square-meter total floor area and a 100 square-meter lot area. The two-storey single attached Talia, meanwhile, offers a 52.25 square-meter total floor area and an 80 square-meter lot area. Finally, Aria, a two-storey townhouse unit, covers 42 square-meter total floor area and a 60 square-meter lot area.

P.A. Properties President Jonathan G. Lu (left) leads the capsule laying for Idesia, the company’s first project with its joint venture with Japan’s Hankyu Realty Co., Ltd. on Saturday, December 9 in Dasmarinas, Cavite.

Amenities to be developed in Idesia comprise of different zones. An active zone will include the basketball court, covered badminton courts, a children’s playground, and a jogging path. The recreation zone will feature the swimming pool, a clubhouse with function rooms, indoor and outdoor gyms, an activity area, and a provision for an open-air cinema. The Idesia garden, picnic and pond areas, a reading area and a leisure games area are built for the relaxation of the township’s residents.

The Idesia project’s location in San Agustin, Dasmariñas, Cavite is defined as mixed-used zone, with industrial parks, educational and medical institutions, and commercial/office/retail establishments like neighborhood centers, supermarkets, shophouses, and malls. The township is located near the Coastal Road and the South Luzon Expressway.

The joint venture between P.A. Properties and Hankyu Realty was created out of a mission to realize the dreams of the people to “live in a place they truly want to live in.” Hankyu Realty, which was founded in 1947 and is the property arm of Japanese conglomerate Hankyu Hanshin Holdings, Inc., chose the Philippines as the third country after Thailand and Vietnam for its expansion.

P.A. Properties Chairman Romarico T. Alvarez (left) leads the capsule laying for Idesia, the company’s first project with its joint venture with Japan’s Hankyu Realty Co., Ltd. on Saturday, December 9 in Dasmarinas, Cavite.

Choosing the Philippines as the third country for Hankyu Realty’s expansion is timely considering the country’s growing economy, which is showing an increased demand for buying a house among the young people, and they see that P.A. Properties is able to address such demand, the company noted.

“This will be our first project here in the Philippines,” Hankyu Realty Deputy General Manager Toda Masahiko told reporters through an interpreter following the groundbreaking event. “Since we have a very long experience in building housing in Japan, we would like to partner with [P.A. Properties] here in the Philippines and combine with their know-how or knowledge to provide better houses.”

With the new township project, P.A. Properties, which has already built about 19,000 housing units in Laguna, Batangas, Bulacan, Cavite, Pampanga, and Metro Manila, seeks to realize its advocacy of helping ease the more than six million housing backlog in the Philippines. The company pledged to embark on strategic expansion efforts to further build 15,000 more housing units in the next five years, creating comfortable, safe, and joyful Filipino communities.

P.A. Properties hopes to complete all the remaining phases of the Idesia development around 2025.

To know more about Idesia, visit its website http://www.idesia.com.ph/. Follow Idesia on Facebook, https://www.facebook.com/idesiaph/; Intstagram, https://www.instagram.com/idesiaph/; and Twitter, https://twitter.com/idesiaph.

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