Office cum residential development, Tokyo

In 2007, CapitaLand invested in its first major development project in Japan. CapitaLand is collaborating with leading real estate developers Mitsubishi Estate Co., Ltd (MEC) and Heiwa Real Estate Co., Ltd to develop a commercial cum residential site in Tokyo’s prime Shinjuku business district. The investment of a 20% stake (JPY32.0 billion) in the development is in line with the Group’s strategy to establish partnerships with major local developers to build and manage prime real estate projects and to reinforce its presence as a long term player in Japan. CapitaLand had earlier established partnerships with MEC in the Japan residential and serviced residence sectors.

The approximately 155,000 square foot freehold site enjoys a strategic location near the Tokyo Metropolitan Government Office and Shinjuku Central Park, and is close to the main subway lines. The site is also within walking distance from the Shinjuku Station, which is the largest station in Japan and the busiest station in the world catering to daily commuter traffic of 3.5 million people. It is also a three-minute walk from the Nishi-shinjuku Station, which is directly connected to the main Tokyo Station.

Shinjuku is one of the key business districts in Tokyo and is currently home to leading Japanese manufacturing firms, IT companies and multi-national corporations like Nihon Texas Instruments, Apple Computers, Microsoft, Pfizer and Aventis Pharma. The developers plan to build a 35-storey office tower and a 20-storey condominium on the site. When completed in 2011/2012, the development will cater to the increasing demand for quality offices and residential space in the city.