Japanese developer expands into ASEAN

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ideo qMitsui Fudosan, one of the largest developers in Japan and a subsidiary of the Mitsui conglomerate, is expanding into Thailand, Indonesia and Malaysia, the company’s group chairman and chief executive officer Kiyotaka Fujibayashi said.

The group will invest around $223 million in residential and retail projects in Thailand, Indonesia and Malaysia.

Specifically, Mitsui Fudosan Residential Company will take on projects in these 3 countries. In Thailand, the company has formed a joint-venture with Ananda Development, Ananda MF Asia, and the first project is to built a condominium complex for $151 million in downtown Bangkok, Ideo Q Rama 4. Ananda MF Asia is also interested in developing office and retail projects in the future.

“We are confident thatASEAN countries’ economies will still grow, especially the ASEAN-5 countries – Thailand, Singapore, Indonesia, Malaysia and the Philippines – by the targeted 5 per cent next year. Although they are facing low growth in the second half of this year, it is a short-term situation,” Fujibayashi said.

In Malaysia and Indonesia, the group is also investing through joint ventures with local partners to develop the both residential and retail projects, Fujibayashi said.

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Reading Time: 1 minute

Mitsui Fudosan, one of the largest developers in Japan and a subsidiary of the Mitsui conglomerate, is expanding into Thailand, Indonesia and Malaysia, the company’s group chairman and chief executive officer Kiyotaka Fujibayashi said.

Reading Time: 1 minute

ideo qMitsui Fudosan, one of the largest developers in Japan and a subsidiary of the Mitsui conglomerate, is expanding into Thailand, Indonesia and Malaysia, the company’s group chairman and chief executive officer Kiyotaka Fujibayashi said.

The group will invest around $223 million in residential and retail projects in Thailand, Indonesia and Malaysia.

Specifically, Mitsui Fudosan Residential Company will take on projects in these 3 countries. In Thailand, the company has formed a joint-venture with Ananda Development, Ananda MF Asia, and the first project is to built a condominium complex for $151 million in downtown Bangkok, Ideo Q Rama 4. Ananda MF Asia is also interested in developing office and retail projects in the future.

“We are confident thatASEAN countries’ economies will still grow, especially the ASEAN-5 countries – Thailand, Singapore, Indonesia, Malaysia and the Philippines – by the targeted 5 per cent next year. Although they are facing low growth in the second half of this year, it is a short-term situation,” Fujibayashi said.

In Malaysia and Indonesia, the group is also investing through joint ventures with local partners to develop the both residential and retail projects, Fujibayashi said.

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