Mitsubishi Corporation to Establish Joint Venture for Urban Development Projects in Asia
2018年9月14日 - 5:03PM
JCN Newswire (英)
Mitsubishi Corporation (MC) is pleased to announce that it has
reached an agreement with Surbana Jurong (SJ) to establish a new
joint venture. SJ is a wholly owned subsidiary of Temasek Holdings,
a Singapore government affiliated investment company. The new joint
venture will focus on urban development projects in Asia.
MC and SJ will establish the 50-50 joint venture in Singapore
following approval from the relevant authorities. The joint venture
will operate in Asian countries in which the two companies already
have substantial experience, particularly in Myanmar and Vietnam
but also in other markets such the Philippines, Indonesia, India
and Sri Lanka. The joint venture will begin by investing $500
million to acquire assets of up to $2.5 billion in aggregate over
the next five years, making additional investments over time or
inviting third-party investors as it takes on larger-scale
projects.
In emerging Asian countries, there is an increasing demand for
urban development and improved infrastructure due to rapid economic
and population growth. The new joint venture will primarily engage
in urban development projects that build transportation
infrastructure while at the same time targeting areas surrounding
transportation hubs for developing urban real estate solutions such
as retail outlets, offices, apartments, hotels and hospitals.
SJ originally began by developing public housing and industrial
estates in Singapore, then utilized its global network to deliver
successful projects for over 70 years in more than 40 countries
including Myanmar, Vietnam and India. For its part, MC has built up
a wealth of expertise in the real estate business by developing an
array of assets ranging from industrial complexes and warehouses to
commercial facilities and condominiums, not only in Japan, but also
in South East Asia, China, the United States and other markets
around the world.
Although MC's real estate business previously focused primarily on
developing and selling individual real estate assets, the company
will be making use of its comprehensive strengths and drawing on
its capacity to adopt a holistic view across numerous industries to
execute future urban development projects.
Pooling the collective know-how and track records of both
companies, the new joint venture will work to deliver high-quality
urban development projects that meet local needs and contribute to
economic development in emerging countries while at the same time
keeping in line with MC's aim of simultaneously generating
economic, societal and environmental value.
About Surbana Jurong
The Surbana Jurong Group is one of the largest Aisa-based urban,
industrial and infrastructure consulting firms operating in 40
countries and 110 cities globally. The company has strong ties with
the shareholding company Temasek Holdings[1], and maintains a wide
range of networks including government officials, local companies
and international institutions.
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global
integrated business enterprise that develops and operates business
across virtually every industry including industrial finance,
energy, metals, machinery, chemicals, foods, and environmental
business. Mitsubishi Corporation's current activities are expanding
far beyond its traditional trading operations as its diverse
business ranges from natural resources development to investment in
retail business, infrastructure, financial products and
manufacturing of industrial goods. For more information on
Mitsubishi Corporation, please visit the company's website at
https://www.mitsubishicorp.com/jp/en/.
Source: Mitsubishi Corporation
Contact:
Mitsubishi Corporation
Telephone:+81-3-3210-2171
Facsimile:+81-3-5252-7705
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