Overseas real estate business
Leveraging our knowledge and networks as a general trading company, we are collaborating with local partners as well as Japanese developers and construction companies to expand overseas. In the United States, ASEAN and China, we are currently involved in a wide range of projects including renting and selling units in large logistics facilities, large rental housing multifamily apartment blocks, data centers and industrial parks and investing in hotels and resorts.
Real estate in the United States
In the United States, we are currently focusing on an initiative for the establishment of a real estate fund to raise funds from Japanese investors to invest in the rental housing multifamily apartment development business. We have already acquired and are currently operating two properties in Texas, Dallas and one in Atlanta, Georgia as seed assets for this fund. ITOCHU plans to utilize the knowledge and experience it has accumulated in Japan in areas such as real estate development and REITs to continue actively expanding in the United States, including creating a value chain spanning real estate development and operation.
Residential real estate in ASEAN
Leveraging our track record of residential housing development in Japan and our knowhow in areas such as product planning and sales strategy, we are working on a condominium development project in Jakarta, with the Sinar Mas Group, one of the largest conglomerates in Indonesia.
Industrial real estate in ASEAN
For 30 years, we have been developing, selling and operating industrial parks to support overseas expansion by Japanese companies. In Indonesia, we have been in partnership with the Sinar Mas Group since 1992 to develop and operate Karawang International Industrial City, which has tenants such as Toyota, Daihatsu, Yamaha, Sharp, Ajinomoto, Unicharm, Kao and P&G. In Thailand and Vietnam, we have formed a capital tie-up with AMATA Corporation, a leading industrial park developer.
Industrial real estate in China
ITOCHU is utilizing its extensive experience of developing logistics facilities in Japan and knowledge of the global logistics business to conduct the logistics facility development business in China in partnership with Mapletree Investments Pte Ltd. Investments, the real estate arm of Singapore government. We have also established an investment fund for building data centers in China with our strategic partner CITIC Group Corp, and we aim to leverage the CITIC Group's knowledge and our knowhow of the real estate development and data center businesses to provide solutions that meet strong data center demand.