Mainboard-listed IPC Corporation has bought a 77-unit uncompleted condominium project in Tokyo for about S$21 million. IPC said it has also agreed to pre-sell the units to two unnamed Japanese real estate companies when the project, named Uraga, is completed. The company said the project's foundation level has been completed and the building is scheduled to be completed in February or March next...
Japan Property
Mapletree Investments has acquired an industrial property IXINAL Monzen-Nakacho Building in Tokyo from Itochu Corp, Japan. The property is a five-storey light industrial building that is home to a corporate headquarters, information systems development and operations cum data centre. Mapletree did not disclose the amount it paid for the building. Completed in September 2009, this freehold property is...
CapitaLand's wholly-owned serviced residence business unit The Ascott will open its second Citadines property in Japan on March 8. The new Citadines Kyoto Karasuma-Gojo follows the successful opening of Ascott's first Citadines serviced residence in Japan, the Citadines Tokyo Shinjuku, in March last year. The 124-unit serviced residence is a short walk from Kyoto's business district and tourist belt,...
Mapletree Investments has signed a Memorandum of Understanding (MOU) on a joint venture with Japan's ITOCHU Corporation to undertake "Build-to-Suit" development projects for logistics tenants in Japan. The companies agreed to extend their collaboration on investment and development of logistics, retail, industrial and commercial real estate projects in Japan, Singapore and the rest of Asia. The extension...
Singapore's Mapletree Industrial has acquired a property in Tokyo, Japan. Sun East Shinonome Building is Mapletree's first industrial property in Japan. The company, which invests in industrial real estate across Asia, said the acquisition has enabled it to diversify the fund's country portfolio. The Sun East Shinonome Building is a freehold light industrial building with a gross floor area of about...
Tokyo has been ranked as the top property investment city in the Asia-Pacific, according to a survey by Washington-based Urban Land Institute and PricewaterhouseCoopers. But while investors see plenty of opportunities in the regional property sector, financing may prove to be a key challenge in the coming year. Together with Tokyo, Singapore, Hong Kong, Bangalore and Shanghai round up the list for the...
CapitaLand said land prices in Vietnam and India have fallen by as much as 15 per cent this year, making it easier to get sites now than a year earlier. There may be more opportunities in “greenfield sites”, chief investment office Kee Teck Koon said at a property conference held here yesterday. CapitaLand is also looking at expanding in Japan, where it may acquire properties and set up funds for...
Parkway Trust Management , the manager of Parkway Life Real Estate Investment Trust, is investing in two nursing homes in Japan for some S$34m. One of the homes is located in Yokohama City, Kanagawa Prefecture and the other is in Ibaraki City, Osaka. The vendor of both properties is nursing home operator ZECS Community Co. Under the sale and leaseback agreements, ZECS CC will lease back 100% of the...
THE Government of Singapore Investment Corporation (GIC) will buy the Westin Tokyo luxury hotel (picture) for 77 billion yen ($1 billion) from Morgan Stanley, the Nikkei business daily reported yesterday. The parties plan to complete the deal by the end of the month, having agreed on a basic outline on the purchase of the land and the building located in Tokyo’s prime Ebisu district, the newspaper...
The Government of Singapore Investment Corp (GIC) has agreed to buy the Westin Tokyo luxury hotel for 77 billion yen (723 million US dollars) from Morgan Stanley, a newspaper said Sunday. The parties have reached a basic accord on the purchase of the land and the building located in Tokyo's high-end residential and commercial district of Ebisu, the Nikkei business daily said. They plan to complete the...