NEWS

By IBT Staff Reporter | International Business Times | September 3, 2026 1:56am JST

KEY POINTS

• Takamatsu Construction starts Philippine operations and forms a real estate venture with Pueblo de Oro
• Pueblo de Oro holds 66.6% of the new company, with Takamatsu Philippine Corporation owning 33.4%
• Philippine business marks Takamatsu’s first overseas step, with longer-term plans to expand into construction and new fields

The Japanese builder set up a local unit in May and signed a venture on Aug. 27 to build a real estate base in the Philippines. (PHOTO: CHARLESDELUVIO)

Takamatsu Construction Co. said on September 2 it had begun operations in the Philippines and signed a shareholders’ agreement to establish a joint venture with local developer Pueblo de Oro Development Corporation, marking the Japanese builder’s first step in overseas expansion.

The Osaka-based company set up Takamatsu Philippine Corporation on May 4 as part of its medium- to long-term growth strategy. The local unit and Pueblo de Oro held a signing ceremony on August 27 for the creation of Pueblo de Oro Takamatsu Development Corporation.

The joint venture will focus on real estate development in the Philippines, where Takamatsu aims to build a business base in the market. Pueblo de Oro will hold 66.6% of the venture and Takamatsu Philippine Corporation will own 33.4%.

Takamatsu Philippine Corporation has capital of 150 million Philippine pesos, equivalent to about $0.94 million, while the new joint venture has capital of 10 million pesos, or about $62,500. The joint venture is located at 17th Floor, Robinsons Summit Center, 6783 Ayala Avenue, 1226 Makati City, Philippines.

Pueblo de Oro is a comprehensive developer engaged in housing and real estate projects in the Philippines. Established on February 13, 1995, it has capital of 678,875,400 Philippine pesos.

Takamatsu said it had been considering expansion into Southeast Asia to support sustained growth and create new business opportunities. It identified the Philippines as one foothold for regional expansion because population growth and economic growth are expected to support opportunities in housing and property development.

Through the partnership, Pueblo de Oro is expected to lead property development using its local experience and network, while Takamatsu Philippine Corporation will support the venture through capital participation and build knowledge of local market conditions, business practices and regulations. Takamatsu also plans to study how to apply construction technology and know-how developed in Japan.

In the longer term, Takamatsu said its Philippine unit aims to expand beyond investment projects into construction and other new business areas.

The Philippines has been one of Southeast Asia’s faster-growing large economies in recent years, supported by domestic consumption, remittances and infrastructure investment, factors that have underpinned housing and real estate demand.

Source: International Business Times

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