8th December 2023

Participation in the Cabuyao 2 Project,
the sixth project in the Philippines～The number of units overseas surpasses 54,000～
Hankyu Hanshin Properties Corp. (Head Office: Kita-ku, Osaka; President: Morotomi Ryuichi) will jointly promotethe "Cabuyao 2 (provisional name) Project" in the Philippines with PA Alvarez Properties, a real estate developerin the Philippines (Head office: Province of Laguna, Chairman: Romarico T Alvarez, hereinafter referred to as"PA").

From left PA：Jonathan (Vice Chairman), Alvarez (Chairman)
Hankyu Hanshin Properties Corp.：Morotomi (President), Matsuda (Director)

The "Cabuyao 2 (provisional name) Project" in the Philippines encompasses an estimated total of 1,600
detached houses. It is strategically positioned approximately 900m east of the "Idesia Cabuyao" development,
in which we have participated in the year 2019. The sales progression of the aforementioned "Idesia Cabuyao"
development has demonstrated positive momentum. Cabuyao, located within the Province of Laguna, is thegeographical area responsible for promoting both projects. It is situated approximately 35 km south of the centralManila. Over time, the city has transformed into a residential suburb catering to individuals employed in theindustrial parks within and surrounding central Manila. Our joint venture partner, PA, has successfully developedand sold over 10,000 units within this evolving region. Furthermore, this particular project holds the potential toenhance convenience for residents due to the planned development of schools, hospitals, and commercial facilities
in close proximity to the area.
Moreover, with this project, our housing subdivision business in the Philippines will consist of 6 projects (about5,960 units), and the overall overseas housing business will consist of 53 projects (about 54,620 houses).
1◆Overview of the overseas housing business:
Currently, our company is actively engaged in implementing diverse initiative to strengthen our real estatebusiness in ASEAN countries and other regions. Among these initiatives, our housing projects are being developed
and launched in five countries: Thailand, Vietnam, the Philippines, Indonesia, and Malaysia.

Countries

No. of projects

No. of units

Thailand36 projects

Approx. 29,890 units

Vietnam

6 projects

Approx. 13,990 units

The Philippines

6 projects

Approx. 5,960 units

Indonesia

4 projects

Approx. 3,930 units

Malaysia

1 project

Approx. 850 units

Total

53 projects

Approx. 54,620 units◆”Cabuyao 2 (provisional name) “ Project overview【Project Type】
Detached houses【Location】
City of Cabuyao, Province of Laguna, Republic of the Philippines【Site Area】
Approx. 19.5ha【Completion】
2025 onwards（tentative schedule）【No. of Units】
Approx. 1,600 units【Project Revenue】
Approx. 4.85 billion Philippine Pesos（Approx. 12 billion yen) （tentative）※1 Philippine peso=2.6 yen◆Project Location【The Philippines】★indicates the “Cabuyao 2 (provisional name) Project”●Indicates Hankyu Hanshin Properties Corp.’s housing
projects, all of which are joint ventures with PA.

© OpenStreetMap contributors（opendatacommons.org）（Partially modified）

2

About Hankyu Hanshin Properties Corp.
【Company Name】

Hankyu Hanshin Properties Corp.

【Head Office】

Hankyu Terminal Bldg., 1-1-4 Shibata, Kita-ku, Osaka【Representative】

Morotomi Ryuichi【Paid-in Capital】

12.4 billion yen【Revenue】
126.8 billion yen (As of March 2023)【Lines of Business】 Leasing of office and commercial facilities, Real estate development,
Area Management, Real estate funds, Sales of condominiums・landed properties・
residential land plots, Brokerage, Refurbishment, Rental management, Land use
optimization and others【No. of Employees】 Approx. 900 (as of March 2023)◆About P.A. ALVAREZ PROPERTIES AND DEVELOPMENT CORPORATION【Company Name】

P.A. ALVAREZ PROPERTIES AND DEVELOPMENT CORPORATION【Head Office】

No. 1250 National Highway, Brgy. Nueva, San Pedro, Laguna,Philippines 4023

【Representation】

Romarico T. Alvarez【Paid-in Capital】

2.1 billion Philippine pesos (Approx. 5.46 billion yen)

【Revenue】

1.9 billion Philippine pesos (Approx. 4.94 billion yen)
（As of December 2022）【Lines of Business】 Sales and management of condominiums, detached houses, and townhouses.
【No. of Employees】 Approx. 550（As of October 2023, including the group companies）*News releases written in Japanese are treated as official releases.

3