The Philippine Star

Fed­eral Land on track to open Phl’s first Mit­sukoshi Mall

- — Iris Gonzales Real Estate · Cosmetics · Business · Beauty · Fashion & Beauty · Philippines · Grand Central Railway · Bonifacio Global City · Japan · Southeast Asia · Asia · Singapore · Thailand · Malaysia · Taiwan · China · Italy · United States of America · ASDA Wal-Mart Supercentre · Metropolitan Bank and Trust Company · Toyota Motor Corporation · Mitsukoshi · Grand Central Terminal · Isetan Mitsukoshi Holdings · Isetan

Fed­eral Land Inc., the real es­tate de­vel­oper of Ty-led GT Cap­i­tal Hold­ings Inc., is on track to open the Philip­pines’ first Mit­sukoshi Mall in 2021. In a re­cent in­ter­view with

The STAR, Fed­eral Land pres­i­dent Pas­cual Gar­cia III said devel­op­ment is on­go­ing and would soon pave the way for the turnover of the re­tail spa­ces to the dif­fer­ent ten­ants.

Ten­ants in­clude Ja­pa­nese gi­ants in cloth­ing and ap­parel, beauty and cos­met­ics as well as other unique re­tail con­cepts.

The mall will have a wide range of mer­chant se­lec­tion rang­ing from de­signer la­bels to fa­mous Ja­pa­nese brands as well as other brands. There will also be both lux­ury cos­metic brands and also af­ford­able Ja­pa­nese cos­metic prod­ucts.

There will also be a Ja­pa­nese su­per­mar­ket and a port­fo­lio of culi­nary op­tions of­fer­ing Ja­pa­nese food, Gar­cia said.

“This will be the first in the Philip­pines,” Gar­cia said.

The iconic Ja­pa­nese mall brand is part of a Ja­pane­sein­spired mixed use pro­ject to rise in Fed­eral Land’s 10-hectare Grand Cen­tral Park Devel­op­ment in Fort Boni­fa­cio Global City.

“It will be worth the wait,” Gar­cia said.

Fed­eral Land part­nered with two Ja­pa­nese gi­ants No­mura Real Es­tate Devel­op­ment Co., a lead­ing res­i­den­tial com­pany es­tab­lished in 1957 and Ise­tan Mit­sukoshi Hold­ings Ltd., a top re­tail ser­vice group in Ja­pan for the sprawl­ing devel­op­ment.

Mit­sukoshi will an­chor The Sea­sons Res­i­dences, an up­scale Ja­pa­nese-in­spired con­do­minium of­fer­ing one to three bed­room units.

Mit­sukoshi was founded in 1673 while Ise­tan was founded in 1886 be­fore they merged in 2008.

The pro­ject would be the first in the Philip­pines to re­al­ize a “Ja­pan Con­cept” which at the same time would be af­ford­able and would fit the taste of Filipino con­sumers.

No­mura and Ise­tan are en­ter­ing the Philip­pines for the first time.

The Philip­pines is Ise­tan Mit­sukoshi’s fourth over­seas busi­ness in South­east Asia and the re­tail brand’s 56th out­let in the world.

At present, the gi­ant depart­ment store chain Ise­tan Mit­sukoshi has over­seas stores in Sin­ga­pore, Thai­land, Malaysia, Tai­wan, China, Italy and the US.

GT Cap­i­tal has led the way in es­tab­lish­ing part­ner­ships that brings Ja­pa­nese tech­nol­ogy, de­signs and the knowhow to the Philip­pines.

GT Cap­i­tal, founded by the late ty­coon Ge­orge SK Ty, has busi­ness in bank­ing through Metrobank, prop­erty devel­op­ment through Fed­eral Land, in­fra­struc­ture and util­i­ties through Metro Pa­cific In­vest­ment Corp., au­to­mo­tive as­sem­bly through Toy­ota Philip­pines.

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