Our source of legitimate Japanese news, Nikkei Asian Review, reports that the operator of Isetan, Shinjuku’s trendsetting department store (visit the exquisite basement food hall when you’re in the area), will open a branch plus four 40-storey mixed-use condominium buildings in Metro Manila by 2022.
“The property will be built in a suburb of the capital, Manila,” says the report. “Project costs are seen totaling around 50 billion yen ($497 million).” It will have over 1,500 residential units.
Though we already have Uniqlo, Daiso, Ministop and Lawson in the Philippines, it’s the first time the country will have a Japanese department store.
(The 1980s-era, Jorge Go- and John Gobenghuy-owned Isetann on CM Recto Avenue, a revived version of the supermarket chain Joymart, is in no way affiliated with Japan).
Isetan Mitsukoshi Holdings will work with Nomura Real Estate Holdings and partner with a local developer.
