In its bid to boost its competitiveness as a real estate developer and services provider, Daiichi Properties has acquired Ascendas Services Philippines Corporation (Ascendas), the local unit of the Ascendas-Singbridge Group of Singapore, the company said.
“The acquisition allows Daiichi Properties to leverage on Ascendas’ expertise in the property management business, which was built up by its own experience in the Philippines as well as the best-in-class practices of the Ascendas-Singbridge Group in managing its own properties across the Asia-Pacific region,” Daiichi Properties Senior Vice President Charmaine Uy said in a statement.
Uy explained that Daiichi’s objective is to provide world-class projects to their tenants and investors by partnering with international architectural design firms, engineering consultants, and service providers who are largely considered the best in their respective fields.
“Daiichi Properties continues this mission with its acquisition of Ascendas as its property management arm,” she added.
Ascendas Philippines was the local subsidiary of the property management arm of the Singapore-based Ascendas-Singbridge Group, which describes itself as “a leading provider of sustainable urban solutions.” Ascendas-Singbridge lists projects in townships, mixed-use developments, and business/industrial parks in 29 cities across 10 countries in the Asia-Pacific region.
“With this development, Daiichi Properties, a leading office space developer in the Philippines, now moves into the property management business, complementing its property development, sales and leasing services,” Uy said.
Boasting 27 years’ experience in real estate development, Daiichi Properties currently has a total of 228,000 square meters of office space built or being developed. The company has acquired, designed, and developed commercial, residential, and industrial real estate properties since 1989.
The company recently topped off The Finance Centre, its third award-winning office development. The building is in Bonifacio Global City together with Daiichi’s two other award-winning buildings, One World Place and World Plaza.
The Finance Centre was given the Five-Star Best Office Development award by the Asia Pacific Property Awards last year.