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Keppel Corp inks MOU with Filipinos conglomerate to develop urban solutions
KEPPEL Corporation has inked a non-binding memorandum of understanding (MOU) with Filinvest Development Corporation (Filinvest), a conglomerate in the Philippines, to develop solutions for sustainable urbanisation in the country.
The MOU was signed by Keppel Urban Solutions, a wholly owned unit of Keppel Corp, and Filinvest during the Philippines Business Forum held in conjunction with the 32nd Asean Summit in Singapore.
Keppel Corporation and Filinvest will explore cooperation opportunities in developing and enhancing urban solutions for Filinvest's development portfolio.
This includes Filinvest City in Alabang and Filinvest New Clark City in Central Luzon, as well as office developments that are built upon the needs of technology-based companies engaged in Business Process Outsourcing (BPO) and Knowledge Process Outsourcing (KPO) in Metro Manila.
Filinvest City is a fully-integrated and self-contained 244-hectare prime property south of Metro Manila that is home to a large number of BPO offices, residential enclaves, leisure destinations, an education zone as well as a medical and wellness hub.
As for Filinvest New Clark City, it is envisioned to pioneer the development of a global and smart business community in a 288-hectare property north of Metro Manila.
The partnership seeks to leverage the strengths of Keppel Urban Solutions, an end-to-end integrated master developer of urban developments that brings together the Keppel group's diverse capabilities in energy, property, infrastructure, data centres and connectivity to create highly liveable, smart and sustainable communities.
Cindy Lim, managing director of Keppel Urban Solutions, said: "The Keppel group has been involved in the Philippines for more than 40 years. We are pleased to work with a like-minded partner, Filinvest, to explore opportunities to provide solutions for sustainable urbanisation and strengthen our presence in the Philippines."
Filinvest director Andrew Gotianun said the company believes that Keppel's expertise will further advance Filinvest's aim to develop more sustainable green buildings and communities.