MANILA, Philippines — The construction arm of Zobel family-led Ayala Land Inc. has launched a new company with Japanese firm Takenaka Corp. to explore “complex” design and construction projects in the country.
Makati Development Corp. (MDC) on Monday said the formation of MDTK Corp. would help introduce new technologies and methodologies that were expected to boost the local construction industry.
“The MDC community looks forward to collaborating with Takenaka to exchange best design and construction practices and technologies that will benefit both our organizations, the construction industry and, most importantly, the people that we serve,” MDC president and CEO Dante Abando said in a statement. Abando also serves as chair of MDTK.
The companies did not elaborate on the specific projects they would be working on, saying that the joint venture would likewise aid in Takenaka’s goal of further expanding its operations in the Philippines.
800 projects and counting
MDC, a wholly owned subsidiary of Ayala Land, has so far completed 800 projects in the country across commercial, residential, industrial, land development and infrastructure sectors.
Osaka-based Takenaka, meanwhile, provides architectural, engineering and construction services for over 5,400 projects globally.
It has been tapped to help in constructing the 33-kilometer Metro Manila Subway through Takenaka Civil Engineering and Construction Co. Ltd.
“The MDC-Takenaka partnership will become an avenue to advance more innovative and sustainable solutions that will benefit the communities that we serve, especially at this time when the Philippines is primed for exponential economic growth,” said Ayala Corp. and Ayala Land chair Jaime Augusto Zobel de Ayala.
Ayala Land saw its earnings last year grow by 32 percent to P24.5 billion as its core businesses recovered. Net construction revenues from external projects of MDC rose by 56 percent to P6.6 billion. —Meg J. Adonis INQ
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The article was originally published in Inquirer.NET.
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