Japanese investors infuse P600 M into CDC projects

MANILA, Philippines - The local unit of Japanese property guru Yozo Hasegawa has pooled close to P600 million worth of investments in choice projects of real estate developer CDC Holdings Inc.

Philippines Foreland, an affiliate of Hasegawa’s Foreland Holdings, said it has gathered investors to infuse financing in CDC Holdings’ Rivergreen Residences and Citadines Millennium Ortigas. 

Foreland  is the foremost realty broker for foreign properties for sale to Japanese investors residing in Japan and to those based overseas.  It has offices in Singapore, Malaysia, and now in the Philippines. 

Under a memorandum of agreement (MOA) signed recently, Philippines Foreland will assemble and manage Japanese investors who will put in a total of P300 million worth of investments in Rivergreen Residences, which is equivalent to 200 units.  In addition to the condominium, Philippines Foreland is also set to arrange the purchase of four floors, or 60 units in total, from the Citadines Millennium Ortigas property.   The additional acquisition will further give another P300 million investment to CDC Holdings’ Ortigas project.  

“CDC Holdings has an outstanding track record in property development and management.  This is evident in the success of its Somerset Millennium Makati property,” said Philippines Foreland president Yoshimi Hirooka.  “Our company has an established network across Asia.  We have seen how CDC Holdings is able to maintain the success of Somerset and we want to affiliate our company with an organization like CDC Holdings.”

He said Japanese investors are getting more interested in investing in Philippine properties lately due to the deprecia-ting value of the Japanese yen and the steady exchange rate of the Philippine peso. They have been active investors in Singapore, Bangkok, and Malaysian properties, which have appreciated shortly compared to the value of Philippine properties, which are still seen as attractively priced. 

Rivergreen Residences is one of the upcoming projects developed by CDC Holdings that embodies the perfect trifecta of history, nature and accessibility.  Definitely one of CDC Holdings’ fast selling projects, Rivergreen Residences homeowners can look forward to live green by the stream as it is located right beside the historic Pasig River.  Its strategic location in Sta. Ana, Manila makes the project accessible to schools, commercial areas, and even business districts.

According to CDC Holdings president and CEO Elsie Chua, the support of Philippines Foreland to their projects “definitely sets a very positive momentum for our company.”

“Our track record precedes us, and Foreland’s support is just a proof that our projects is being entrusted not only by our Filipino buyers but the foreign market, as well.  We are proud that we are continuing to deliver through the projects that we develop and the service that we provide.”

Another proof of confidence entrusted to CDC Holdings is its new project in Ortigas. Carrying the Citadines Apart’hotel name, the serviced residen-ces brand under the Ascott Limited group, a member of CapitaLand, this new property promises to bring to life vibrant global living, staying true to what Citadines has been known for globally.  Standing tall at the center of the Ortigas central business district, Citadines Millennium Ortigas has incorporated greening features into its design to meet Singapore’s BCA Greenmark Assessment criteria.  

“We are very excited about this new project. Citadines brings the highlights of the city right to its doorstep, which is fitting for those who value an independent way of living.  Citadines is a prime investment for both urban professionals, as well as for families and those searching for something truly innovative, and we are proud that Philippines Foreland believes the same,” CDC Holdings executive vice president for sales and marketing Charlene Chua – Sy said.