Sales of logistic centres have been the main focus considering the expansion of online shopping particularly during the pandemic
Japan’s leading real estate companies are increasing sales of properties to investors amid the bullish property market, reported Japan Property Central.
During this pandemic-induced slowdown, sales have been ramping up and proceeds will go towards new investments and shareholder returns.
Mitsui Fudosan is anticipating a 42 percent rise in operating profit for the year ending March 2022, with sales to investors expecting to exceed JPY111 billion (USD1 billion).
The company also plans for total revenues for the year ending March 2022 to surge by 3 percent to JPY400 billion (USD3.6 billion) via the sale of office buildings to REITs and foreign funds.
Mitsui acquired Tokyo Dome earlier this year and has boosted its asset holdings by 44 percent over the past five years to more than JPY7 trillion (USD70 billion). It plans to invest another JPY600 billion in real estate this coming financial year.
Meanwhile, Mitsubishi Estate is expecting a profit increase of 25 percent from the previous year to JPY64 billion (USD580 million) by March 2022, through the sales of commercial properties in and outside of Japan.
Sales of logistic centres have been the focus of the company, seeing that the expansion of online shopping has favoured such sector.
Tokyu Fudosan Holdings is expecting a 14 percent rise in sales revenue and a 29 percent rise in gross profit for the year.
The Property Report editors wrote this article. For more information, email: [email protected].
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