Commission Decision No. 16-M-025/2017 Joint Venture by Federal Land Inc.
and the Joint Venture of Isetan Mitsukoshi and Nomura Real Estate Development Co. Ltd.
Federal Land, Inc., Philippine real estate developer and a wholly-owned subsidiary of GT Capital Holdings, Inc. shall be entering into a joint venture with Isetan Mitsukoshi Holdings Ltd. (“Isetan Mitsukoshi”), a Japanese retail establishment operator, and Nomura Real Estate Development Co. Ltd. (“NRE”), a Japanese real estate developer. The joint venture shall be undertaken by the Parties for the purpose of developing four (4) high-rise residential towers atop a commercial complex located in Bonifacio Global City, Taguig. The commercial complex is intended to be a common podium for all four towers and will house a department store to be led by Isetan Mitsukoshi while NRE shall design the four towers.