P.A. ALVAREZ Properties & Development Corp. (P.A. Properties) has forged two new deals with Japan’s Hankyu Hanshin Properties Corp. (HHPC) for development projects in Laguna and Bulacan.
In a recent statement, the Laguna-based property firm said it signed its fourth and fifth joint venture agreements (JVAs) with the Osaka-based firm to continue expanding its community development project Idesia.
“The JVAs will cover the development of Idesia in Cabuyao, Laguna and in San Jose del Monte, Bulacan,” it said.
The past three JVAs of P.A. Properties and HHPC were for Idesia Dasmariñas Phase 1, Idesia Dasmariñas Phase 2 and Idesia Heights. The two firms previously said they were aiming to launch two to three projects every year through 2023.
The joint venture of P.A. Properties and HHPC’s Hankyu Realty Co., Ltd. started in 2017 and is known as P.A. Properties Hankyu Hanshin Corp.