The large-scale renovation of 1271 Avenue of the Americas, a major office building in Manhattan’s Midtown area owned by RGII, was completed in December 2019. As part of the renovation, we increased the window areas of the office space by approximately 60% to enhance its open feel and upgraded the building’s facilities, including air-conditioning equipment and elevators. As of July 2020, the tentative contract rate for the building stood at over 95% and the gradual moving in of tenants was underway.

In March 2019, the 8 Bishopsgate project broke ground in London, the U.K. The new 51-story high-rise office building will replace the two existing office towers, 6–8 Bishopsgate and 150 Leadenhall Street, and offer approximately 2.8 times more leasable floor space than the two existing towers combined.

In July 2020, we joined a residential development project in the center of Sydney, One Sydney Harbour Residences One, in cooperation with Lendlease, an Australian real estate and construction company. Located in the most popular development area in Sydney, this project is a large-scale development that comprises 72 stories and 317 units and which will further enhance our presence in Australia.