Sumitomo Corporation
From Taighde
Sumitomo Corporation Construction and Real Estate Division is one of the largest investors, developers and managers of residential, retail and office properties and large-scale mixed-use urban redevelopment projects in Japan. They also have a large real estate fund management business. Their assets are located mainly in the Tokyo Metropolitan and Kansai regions.
Sumitomo Corporation has sold over 30,000 condominiums in the Kansai & Tokyo metropolitan area over the last 40 years. In the office building business, Sumitomo Corporation operates about 330,000 square meters of office space in Tokyo and Osaka.
Their retail department manages about 410,000 sqm of gross floor area of retail space in over 10 locations spread across the Tokyo Metropolitan, Kansai and Sendai regions. Their properties include tourism-centred retail facilities, shopping centres linked to train stations, mixed-use development projects and suburban malls. Their subsidiary, Sumisho Urban Kaihatsu, provides property management services for these retail facilities. In addition to their direct real estate businesses, Sumitomo Corporation, as a trading company, has businesses in a variety of industries. In the retail industry, they have business interests in supermarkets (Summit Stores), cinemas (United Cinemas), drugstores (Tomod's brand operated by Sumisho Drugs), etc, though they are also active in the cable television business and brand management business.
In May 2007, the Sumitomo Corporation entered into a joint venture worth at least JPY 150 billion (about US$1.3 billion) with GIC Real Estate Pte Ltd concerning investment opportunities across Japan.
