INTERNATIONAL BUSINESS

Overview

The Mitsubishi Estate Group’s International Business began with the establishment of a company in the United States in the early 1970s. Its geographical coverage has since expanded to include the United Kingdom, mainland Europe, and Asia and Oceania. We have been strengthening our portfolio with both management properties predicated on returns from rental fees and properties for sale premised on raising their value under a capital recycling business model. We are promoting business expansion with respect to the real estate trading rules and business customs of each country. We seek to apply optimal business models for each market based on macroeconomic data and analysis of capital and real estate markets to identify the right time to enter.

Overview

Revenue from Operations,Operating Income / Operating Income Ratio

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Competitive Advantages

United States

  • The sourcing power of Rockefeller Group International, Inc. (RGI), and its development know-how and track record, as well as the name recognition it brings.
  • TA Realty’s networks and track record in raising the value of properties.

Europe

  • The sourcing power based on business achievements over a long period.
  • The establishment of development teams and operational effectiveness.
  • Europa Capital’s networks and track record in raising the value of properties.

Asia and Oceania

  • Development know-how gained in the business in Japan.
  • Acclaim the Group has won for its track record in Japan among businesses in leading cities in Asia excluding those in Japan.
  • Relationships with leading local partners.
  • The networks Pan Asia Realty Advisors (PA Realty) has established together with CLSA Real Estate Partners (CLSARE), which handles the real estate fund management business in Asia and Oceania.
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Business Strategies

United States

  • We are pursuing hands-on development centering on RGI.
  • We aim to promote rental business based on two flagship office buildings owned in Manhattan and the development of properties in the United States under our capital recycling business model.
  • We intend to strengthen investment with the Hybrid Investment Model* utilizing TA Realty’s resources.

Europe

  • We aim to develop business particularly in markets where different functions are handled by separate professional enterprises as an asset manager responsible for overseeing all aspects of projects.
  • We intend to expand our portfolio by acquiring properties with a view to redevelopment, centering on management properties in the Office Building Business.
  • We aim to strengthen investment with the Hybrid Investment Model* utilizing Europa Capital’s resources.

Asia and Oceania

  • We are expanding and diversifying our investment and development business jointly with leading local partners.
  • In countries and regions where high and stable growth can be expected, we are focusing on asset types–and particularly property for sale–that are likely to see strong demand given the particular characteristics of different areas.
  • We aim to expand investment with our Hybrid Investment Model* through PA Realty, our joint venture with CLSARE.

* Hybrid Investment Model: Funds structured by the Group companies that combine Mitsubishi Estate’s and third-party equity.

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TOPICS

United States

We have made progress with the Hybrid Investment Model utilizing TA Realty’s resources. As of March 2018, we had established a portfolio of 28 properties in the United States, including office buildings in Boston and Washington, with a combined asset value of around ¥250 billion. We expect this to generate steady income gains. Meanwhile, we have been making good progress with a major renovation project at RGI’s flagship office building in Manhattan, 1271 Avenue of the Americas, with a view to completion in December 2019.

Europe

We have been steadily expanding our portfolio of office building properties in Europe. We own seven office buildings in the United Kingdom (with another project currently under development), and in June 2017 we acquired an office building in Munich, Germany’s largest office building market, giving us a second property in mainland Europe after the building we already own in Paris.

Asia and Oceania

In July 2017, we decided to undertake the joint development in Singapore of CapitaSpring together with CapitaLand, Asia’s largest real estate group. The project is expected to cost approximately ¥145 billion. In November 2017, we also decided to participate in our first Australian residential development project, Melbourne Quarter East Tower, in partnership with Lendlease, Australia’s leading real estate and construction company. The 44-story project in the center of Melbourne will contain 719 apartments.

Picture: Feringastrasse 10–12, Munich

Feringastrasse 10–12, Munich

Picture: CG rendering of CapitaSpring when completed

CG rendering of CapitaSpring when completed

Picture: CG rendering of Melbourne Quarter East Tower when completed

CG rendering of Melbourne Quarter East Tower when completed

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CORPORATE INFORMATION

  • A MESSAGE FROM THE MANAGEMENT
  • ABOUT MITSUBISHI ESTATE
  • PROFILE OF MITSUBISHI ESTATE
  • CORPORATE BRAND
  • SAFETY AND SECURITY
  • CORPORATE GOVERNANCE
  • GROUP COMPANIES