Japanese department store operator Isetan Mitsukoshi plans to expand their ventures to the Philippines.
According to the Nikkei Asian Review, Isetan Mitsukoshi Holdings plans to establish four 40-story condominiums in the metro and commercial facilities including a department store in the lower levels of these condos.
The project would be in partnership with Nomura Real Estate Development Co. and aims to tap demand from Asia at a time when the domestic market is shrinking.
Shin Kong Mitsukoshi, an affiliate firm of Isetan Mistsukoshi Holdings, operates 13 department stores in Taiwan. Isetan Mitsukoshi also operates 31 other shops overseas through its group businesses, including in Europe, the United States and China.