AYALA-LED Makati Development Corp. (MDC) has formed a joint venture (JV) with Japanese general contractor Takenaka Corp. for new projects.
MDTK Corp. was launched on March 21, listed property developer Ayala Land, Inc. (ALI) said in a statement on Monday.
A wholly owned subsidiary of ALI, MDC is engaged in engineering, procurement, construction, and construction management.
The JV, which brings over 400 years of architecture, engineering, and construction experience, will open opportunities for MDC and Takenaka Corp. to take on complex design and construction projects and introduce new technologies and methodologies, ALI said.
“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,” ALI and Ayala Corp. Chairman Jaime Augusto Zobel de Ayala said.
Based in Osaka, Takenaka Corp. provides architectural, engineering, and construction services. The company took part in the construction of Ninoy Aquino International Airport Terminal 3 and Bacolod-Silay Airport.
Through its group company Takenaka Civil Engineering & Construction, the Japanese contractor is engaged in constructing the Metro Manila Subway and the Davao City Bypass projects.
On Monday, ALI shares rose by 3.10% or P1 to P33.25 apiece. — Revin Mikhael D. Ochave
