Makati Development Corporation, Takenaka form joint venture in Philippines

Makati Development Corporation (MDC) and Takenaka Corporation have concluded an agreement to establish a joint venture company in the Philippines, named MDTK Corporation. The launch event to celebrate this milestone was held on 21 March 2024.

MDC is a wholly owned subsidiary of Ayala Land, Inc. (ALI), a leading engineering, procurement, construction and construction management (EPCCM) company in the Philippines. ALI is part of the Ayala Group.

Takenaka is one of the five major general contractors in Japan, offering architectural, engineering and construction services. The company has been involved in various projects in the Philippines, including the construction of Ninoy Aquino International Airport Terminal 3 and Bacolod-Silay Airport in the 2000s. Currently, through its group company Takenaka Civil Engineering and Construction, it is building the Metro Manila Subway and the Davao City Bypass projects.

“The MDC community looks forward to collaborating with Takenaka to exchange best design and construction practices and technologies that will benefit both our organisations, the construction industry, and most importantly, the people that we serve. Through MDTK, we look forward to using our combined expertise, learnings and resources to enhance land and enrich the lives of Filipinos,” said Dante M. Abando, SVP of ALI, president and CEO of MDC, and chairman of MDTK.  

“Our company has long held a dream of expanding our operations in the Philippines, focusing on the potential of the country’s future and the trust built on the historical exchange of nationalities and cultures between the two nation,” added Shoichiro Shibuta, executive managing officer of Takenaka Overseas Construction Business. “With shared values and trust, establishing a joint venture with MDC from the Ayala Group, known for their innovative urban development projects in Makati, BGC and nationwide, is a significant honour and we are grateful for it.”

The joint venture brings together more than 400 years of extensive architecture, engineering and construction experience and expertise to the country. The partnership signals a significant milestone that will open opportunities for the two companies to take on complex design and construction projects, and introduce new technologies and methodologies that will benefit the Philippine construction industry and local people.

“MDTK will be driven by a vision of becoming the trusted partner of our customers and stakeholders by delivering value-adding solutions through advanced design and build expertise. We aim to create sustainable developments and contribute to nation-building through innovation and technology, construction excellence, and extraordinary teams,” said Robert N. Baffrey, president of MDTK.

“This is a wonderful opportunity for our teams to integrate best practices into our developments. 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 Jaime Augusto Zobel de Ayala, chairman of Ayala Corporation and ALI.

Image: Ayala Land