Last Update: 05/18 2021 15:00 JST

Tokaido REIT to list in June with Y30.3bn AUM

Tokaido REIT obtained approval for listing from the Tokyo Stock Exchange on May 14. As the name implies, this REIT will invest heavily in the Tokaido region, especially in industrial region centered on Shizuoka (Shizuoka, Aichi and Mie prefectures). The REIT will be listed...

Daiwa House to develop rental apartment in Ueno

Daiwa House Industry will construct a rental apartment in Higashi-Ueno, Taito-ku. Completion is targeted for April 2023.

Ube, Mitsubishi Material formed company leasing at Iino Building

A new company established through the integration of the cement business divisions of Ube Industries and Mitsubishi Material will locate its headquarters in Iino Building in Uchisaiwaicho, Chiyoda-ku.

Tokyu Corp, LVMH group to redevelop flagship department store

Tokyu Corporation, Tokyu Department Store and L Catterton Real Estate agreed to demolish the Tokyu Department Store Honten Store (main store) in Shibuya and develop a new facility. Demolition of the main store’s building will start in spring 2023 or after.

Mitsubishi and TBS developing high-rise buildings in Akasaka

Mitsubishi Estate and Tokyo Broadcasting System Holdings (TBS) will construct two high-rise buildings with 221,000 m2 of aggregate gross floor area. Construction will start in fiscal 2022, with completion and start of use targeted for fiscal 2028.

Sotetsu, Mercuria Investment to join Thailand condominium development project

Yokohama City based Sotetsu Real Estate, which is a unit of the Sotetsu Group, and Chiyoda-ku based Mercuria Investment will participate in a for-sale condominium development project in Bangkok, Thailand.

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WHAT'S IN THE MONTHLY REPORT: MAY 2021

Past Monthly Reports
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Transactions: 1Q 2021

Signs of Buyers Willing to Invest

Sales transaction volume down, but supported by corporate asset sales
We are about one year into the coronavirus (Covid-19) pandemic and in the first quarter of 2021, another state of emergency was declared. Although not as chaotic as the first time, the sales transaction amount fell 38% year-on-year, with hotel and retail transactions dropping significantly. On the other hand, office building and logistics facility transactions were relatively strong and while the market outlook remains uncertain, buyers’ willingness to invest might not have diminished.
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