TOKYO, June 1, 2016 /PRNewswire/ -- Nippon Steel Kowa Real Estate Co., Ltd. (hereafter, Nippon Steel Kowa) and Taisei Corporation (TOKYO: 1801) (ISIN: JP3443600006) on June 1 announced the creation of a special purpose company (SPC) in partnership with Hotel Okura Co., Ltd. and another company to provide 64,000 sq m of office space on floors 8 - 25 of Hotel Okura Tokyo's main building high-rise complex.
Construction began on June 1, with completion planned for spring 2019. On March 30, 2016, the SPC received a shared land ownership of the office assets from Hotel Okura and it will complete an acquisition of the office space upon completion in 2019.
Mikito Nagai, president & CEO of Nippon Steel Kowa, said, "Leveraging our office-related know-how developed over many years in this area, we are confident in our ability to deliver high-quality facilities and services."
The SPC has commissioned Nippon Steel Kowa and Taisei to wholly manage the office space business, from planning and tenant recruitment to the office management and maintenance. The two companies will leverage their office development know-how to provide well-managed, high-valued office space in one of Japan's most outstanding luxury hotels.
(Photo:
http://prw.kyodonews.jp/prwfile/release/M102851/201605301110/_prw_OI1fl_945409s1.jpg)
Office Space Business Features Support for Global Business
Inheriting Traditional Beauty
Offering Safety and Security
Providing Rich Greenery
(*) The Akasaka-Toranomon Green Way Council, whose membership includes Nippon Steel Kowa and Hotel Okura, aims to enhance green pedestrian networks within the region through a series of redevelopment projects, including Akasaka Intercity AIR, promoted by Nippon Steel Kowa.
Using Nippon Steel Kowa's Real Estate Prowess to Promote Akasaka-Toranomon Area
Business:
(Documentation:
http://prw.kyodonews.jp/prwfile/release/M102851/201605301110/_prw_OA1fl_3d7B5IVr.pdf)
About Nippon Steel Kowa Real Estate
Nippon Steel Kowa Real Estate Co Ltd., is a full-line real estate company with a business portfolio well balanced between "stable/long-term businesses" (i.e., development, owning and/or management of investment assets) and "short- and medium-term businesses" (i.e., development and sale of condominiums, and other types of assets). Integrated business includes developing and leasing of commercial buildings such as "INTERCITY Series," and of luxury apartments for expatriates such as "Homat Series."
About Taisei Corporation
Since 1873, Taisei Corporation has undertaken notable projects in Japan and overseas. From construction and civil engineering, Taisei has expanded into fields as diverse as the environment, nuclear power, urban development and real estate. For over 140 years, Taisei has been a pioneer of advanced technology, with a passion for construction supporting Japan's modernization and economic development. Building on this success, Taisei is expanding in Asia, North America, the Middle East and Europe, where it seeks to contribute to the international community through large-scale projects such as the Bosphorus railroad tunnel.
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