P.A. Properties boosts tie-up with Hankyu Hanshin

PLANS are moving forward for the latest residential communities to rise in Dasmariñas City, Cavite, and Lipa City, Batangas, with the signing of the 2nd and 3rd joint-venture agreements between P.A. Alvarez Properties & Development Corp. (P.A. Properties), a Laguna-based property developer, and Osaka-based Hankyu Hanshin Properties Corp. (HHPC).

In December 2017, the partnership broke ground for Idesia Dasmariñas Phase 1, an 11-hectare master-planned community in Dasmariñas, Cavite.

This announcement marks the expansion of Idesia Dasmariñas into a sprawling mixed-used development that would include areas for commercial and residential units alongside public amenities such as green open spaces, jogging paths, biking trails, sports and recreation facilities — practically all the comforts and convenience of modern living. The ultimate goal of the partnership is to offer a community designed to the highest standards where people would truly enjoy living in.

The new joint-venture agreements are part of the five-year plan of HHPC to launch two to three projects every year with P.A. Properties up to year 2023. The 2nd joint-venture agreement, in particular, covers the development of a 26-hectare property into a residential and commercial township.

Idesia Dasmariñas will be connected by a bridge and access road to and from Aguinaldo Highway to Governor’s Drive, providing relief to that congested intersection of Dasmariñas Cavite.

Taking advantage of the strong demand for housing, the joint venture will launch its third project, Idesia Lipa, a 17-hectare mixed-use development in Barangay Inosluban, by June 2019. It will include 16 hectares devoted for residential development of 1,144 housing units and 0.9-hectare of commercial area.

The partnership believes that the projects have the essential ingredients for a successful joint-venture, mixed-use development. Moreover, the joint venture’s location strategy focuses on sites in mature submarkets benefiting from expanding infrastructure and stable economic growth as well as a significant growing, unfulfilled demand for housing in promising neighborhoods.

On the part of HHPC, Masahiko Toda, Hankyu Hanshin Properties Overseas Business Division general manager had this to say: “We are excited to continue our partnership with P.A. Properties in this endeavor. We have been closely watching the Philippine residential market for quite some time and are pleased to bring the experience we have acquired in developing high-quality houses across Japan, to this venture.”