Housing developer Ovialand Inc. may have found the right partner in listed Tokyo-based Takara Leben in expanding its footprint and in bringing more premium affordable homes to Filipino families.
Pammy Olivares-Vital, president and chief executive officer of Ovialand, said for the past two years, the company has actively explored ways to expand its access to capital to support its growth plans.
“The motivation for this is very simple and straightforward: We want to build more premier quality homes in more areas of the country,“ Olivares-Vital said,
At the formal announcement of the partnership on January 29 in Makati City, Olivares-Vital said for Ovialand, working with Takara Leben goes beyond access to capital, and working with a company with similar values. “We are also looking forward to learning from Takara Leben, adapting the precision and attention to detail which the Japanese work ethic is revered. “
Olivares-Vital considers Ovialand lucky “ to have found a partner that shares our deep commitment to the homebuyer.”
‘Ovialand says its partnership with Takara Leben goes beyond access to capital as it looks forward to working with a company with similar values.’
“This is the most integral component of our partnership with Takara Leben: our shared understanding of this mission,” she said.
Ovialand and Takara Leben will establish a joint venture company that will serve as the developer of the projects. Takara Leben will serve as a key partner in various projects Ovialand will pursue throughout its strategic regional expansion plans.
“Takara Leben is an experienced developer with a proven track record across various segments of the real estate industry, and we are pleased to be their partner in the Philippines as they continue expanding their presence in Southeast Asia,” Ovialand said.
Hiroshi Iwamoto, director of Takara Leben, for his part said the company’s growth strategy in Southeast Asia involves partnering with housing developers that have differentiated themselves from competitors and are yet to fully realize their potential.
“Ovialand fulfills this criteria through their rapid turnover of high-quality and affordable homes to clients and their ambitious goals of expanding nationwide,” Iwamoto said. “We are excited about what the future holds for our joint venture as we are fully aligned with Ovialand’s core value of bringing the Premier Family Living experience to Filipinos.”
Takara Leben also has presence in Vietnam and Thailand.
At last Monday’s ceremonies, the partners launched their first project, Savana South, a 6.5- hectare development in San Pablo City, Laguna.
The first phase offers 657 homes that will generate P1.97 billion in sales over four years.
Olivares-Vital said the project targets the premium affordable price range of P2.8 million to P4 million per unit.
Lot sizes are at 60 to 80 square meters. All of the houses are three-bedroom units with two toilets and bath with one carport.
Olivares-Vital said what makes Ovialand projects unique is the use precast system that allows the developer to build homes in just one day.
“That’s why we are able to deliver the houses to our homebuyers in just three to six months,” Olivares-Vital said.
Development of Savana South started last week. The first houses will be turned over starting in October.
Under an MOU, Ovialand and Takara Leben will seek to open other projects together. Their locations will be strategically determined in accordance with Ovialand’s goal to have a nationwide presence by 2030.
Ovialand’s portfolio is concentrated in Southern Luzon – particularly Savana, Santevi, and Sannera in Batangas; Caliya in Quezon; and Terrazza de Sto. Tomas in Batangas.
The company also has developments in Bulacan through Seriya.
Ovialand has so far delivered 2,800 homes to Filipino families since 2014.
The partnership between Ovialand and Takara Leben was arranged by SB Capital Investment Corp, acting as advisor to Ovialand.
“ SB Capital and Security Bank continue to look for creative products and services which add long-term value for our clients. We are confident that this alliance between Ovialand and Takara Leben will lead to continued success for both companies in the future,” said Virgilio Chua, president and CEO of SB Capital .
Olivares-Vital said Ovialand’s joint venture with Takara Leben marks its commitment “to continue expanding beyond the core markets we serve and build on the successes we have achieved throughout the years.”
Ovialand is making homeownership an easy, seamless and pleasant experience for the Filipino homebuyer.
“We are working towards making owning a brand-new home as easy as owning a brand new car: come in, pay a light down payment, get approved for financing and in just three to six months, be able to move into your quality assured brand-new home,” Olivares-Vital said.
By 2033, Ovialand aims to have a nationwide presence.
Takara Leben is involved in the development and sale of condominiums, leasing of real estate, and distribution of real estate. It is a subsidiary of Mirarth Holdings Inc., which is involved in other industries such as energy and finance and is listed in the Tokyo Stock Exchange under the ticker 8897.
Established in August 1989, Takara Leben has since diversified its presence to include the operation of a hotel chain, building offices, and reconstruction of old homes. The company also has a global presence, primarily in Southeast Asian countries where it has pursued partnerships with local players to build real estate such as condominiums and office buildings.
Takara Leben’s value proposition is multifaceted – such as having a vertically integrated model with materials such as cement and steel to maintain quality, prioritizing environmental friendliness in its real-estate portfolio, and the ability to pursue large-scale projects in Japan and abroad. As such, the company maintains a competitive edge over its competitors within the markets it operates in.
