FNG eyes completion of Riverpark Uniqlo hub in Cavite this year

FEDERAL LAND NRE Global, Inc. (FNG) is set to complete the construction of a Uniqlo logistics facility at Riverpark North in Cavite by the end of the year, a company official said.

“We’re developing for Uniqlo Philippines. I think it’s going to be their biggest in the country. It’s coming along very well, and it should be ready by the end of this year,” Federal Land, Inc. Vice-Chairman William Thomas F. Mirasol told BusinessWorld Editor-in-Chief Cathy Rose A. Garcia as part of BusinessWorld One-on-One’s online interview series.

The human-centric logistics facility is being developed in partnership with Fast Retailing Philippines, the local arm of the global company that operates Uniqlo.

The hub is located at Riverpark North, a 6.9-hectare mixed-use district in General Trias, Cavite, slated for completion by 2027.

FNG plans to launch its second batch of commercial lots at Riverpark North by early 2026, after fully selling out its first batch, Mr. Mirasol said.

“We already have one major locator that’s going to be there, and we’ll be in a position to disclose that as soon as the contract has been signed,” Mr. Mirasol said, adding that the new locator is a major Philippine-Japanese company.

FNG is also set to launch two model homes at Yume at Riverpark, an 18-hectare Japanese-inspired neighborhood within the Riverpark township, Mr. Mirasol said.

“Nomura Real Estate is a big home builder in Japan as well as a high-rise condominium builder. So, we’re leveraging their experience, their technology in this to offer the same thing here in the Philippines,” he said.

The model homes will feature clean lines and efficient layouts, Mr. Mirasol added.

“We do expect that the living experience, which again is always the most important thing for us, is something that I think the Philippine market will value.”

FNG is a joint venture between listed conglomerate GT Capital Holdings, Inc.’s subsidiary Federal Land and Japanese real estate developer Nomura Real Estate Development Co., Ltd.

On Monday, shares of GT Capital fell by 1.65% or P11 to close at P654 apiece. — Beatriz Marie D. Cruz