An Asian development firm has announced its entry into the UK property market.
Developer Group, which has development projects in Asia and is backed by several Japanese companies, is looking to focus on redeveloping residential properties in London.
It follows news of George Osborne’s trip to China last week when the Chancellor encouraged business leaders to invest billions in the UK property market.
Akinari Tokuyama, Chief Investment Officer and Chief Financial Officer of Developer Group, said the company was focusing on newer international markets with a London launch scheduled to take place by the end of this year.
“In the initial phase, Developer Group will focus only on redevelopment projects but subsequently also intends to enter into [the] development of green field projects,” said Akinari.
“Developer Group will be launching funds for the UK realty market. In [the] course of time, we will expand our footprint to other lucrative European markets, too.
“We shall strive to be the bridge between UK and European business opportunities with other parts of the globe.”
Last November, Developer Group announced a joint venture with Tama Home Corporation to create Tama Home, a Japanese realty company which focuses on bringing efficient and high quality methods to real estate development.
Leave a comment