Yuchengcos partner with Japan’s Sojitz to develop Makati property

Source: bilyonaryo.com

Bilyonaryo Helen Yuchengco Dee has formed a new partnership with a Japanese trading firm to develop an idle property of her family’s House Investments in Makati.

Bilyonaryo Helen Yuchengco Dee has formed a new partnership with a Japanese trading firm to develop an idle property of her family’s House Investments in Makati.

The HI board chaired by Yuchengco Dee approved on June 25 a joint venture agreement with Sojitz to develop an idle property of San Lorenzo Ruiz Investment Holdings and Services (SLR), a subsidiary of HI.

HI will retain a 60 percent interest in SLR while Sojitz will hold a 40 percent interest under its profit-sharing agreement from the lease revenues of the project.

Sojitz’s investments in the project will be based on the additional floor area ratio to be approved by Special Body of Land Use and Zoning (SBLUZ) of Makati City.

Sojitz is already a partner of HI in Sojitz G Auto Philippines which distributes Geely cars in the Philippine. HI also operates dealerships under Honda and Isuzu brands. Sojitz Group is a general trading company with a worldwide network of 400 group companies and operations in some 50 countries.