Sumitomo Realty & Development
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Native name | Trụ hữu bất động sản chu thức hội xã |
|---|---|
Romanizedname | Sumitomo Fudosan Kabushiki-gaisha |
| Formerly | Izumi Real Estate Co., Ltd. (1949 - 1957) |
| Company type | Public(K.K) |
| TYO:8830 | |
| Industry | Real estate development |
| Founded | December 1, 1949 |
| Headquarters | Shinjuku NS Building 4-1,Nishi-Shinjuku2-chome,, |
Area served | Japan |
Key people |
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| Subsidiaries |
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| Website | https://www.sumitomo-rd.co.jp/ |
Sumitomo Realty & Development Co., Ltd.is a Japanese real estate development company headquartered inShinjuku,Tokyo.It is a member of theSumitomo Group.
It is one of the three largest real estate developers in Japan, alongsideMitsubishi EstateandMitsui Fudosan.As of 2018, it has the second-largest real estate portfolio in Japan (after Mitsubishi), with a total value of 5.7 trillion yen.[2]
History[edit]
The company was founded asIzumi Real Estate Co., Ltd.in 1949 following the dissolution of theSumitomo conglomerate.It adopted its current name in 1957.[3]
From the early 1960s, Sumitomo was active in developing and sellingcondominiumproperties.[4]
Sumitomo Realty held itsinitial public offeringon theTokyoandOsakastock exchanges in 1970.[3]
The company's first high-rise project was theShinjuku Sumitomo Building,completed in 1974. This building became the company's head office. At the time of its completion, it was the tallest building in Tokyo (but was overtaken by the nearbyShinjuku Mitsui Buildingseveral months later), and its elevators were the fastest in the world.[5]
Sumitomo entered the real estate leasing and brokerage businesses in the late 1970s; commercial and residential leasing now accounts for the majority of its income.[4]
The company's headquarters moved to the 30-storyShinjuku NS Building(a Sumitomo-developed property) in 1982.[3]
Sumitomo actively invested in California and Hawaii real estate during the 1970s.[6]In 1987, Sumitomo acquired the Tishman Building at666 Fifth AvenueinNew York City,which it sold at a loss in 1998.[7]In 1989, Sumitomo acquired the JW Marriott hotel inCentury City,Los Angelesfor $85 million.[8]Sumitomo also set up subsidiaries inWashington, D.C.andSydneyduring the 1980s.[9]
In the mid-1990s, Sumitomo began a home renovation and remodeling business known as Shinchiku Sokkurisan.[4]
Historically, Sumitomo has followed a policy of never selling the properties that it develops.[2]
Notable properties[edit]
Office towers[edit]
Sumitomo owns around 220 office buildings in Tokyo, most of which are located in the city's seven central wards.[2]Its largest developments include:
- Shinjuku Sumitomo Building(1974)
- Shinjuku NS Building(1982)
- Izumi Garden Tower(2002)
- Shinjuku Oak City(2003)
- Tokyo Shiodome Building(2004)
- City Tower Takanawa[10](2004)
- Shinjuku Grand Tower (2011)
- Tokyo Nihombashi Tower (2015)
- Roppongi Grand Tower(2016)
Hotels[edit]
Sumitomo Realty operates the Hotel Villa Fontaine chain, which has a total of 15 properties in Japan (Tokyo, Kobe and Osaka).[11]
References[edit]
- ^"Directors and Executive Officer".Retrieved2024-01-08.
- ^abcMaeno, Masaya (July 26, 2018)."Tokyo real estate market booming ahead of Olympics".Nikkei Asian Review.RetrievedJuly 26,2018.
- ^abc"Our History | Sumitomo Realty & Development Co., Ltd".www.sumitomo-rd.co.jp.RetrievedJuly 27,2018.
- ^abc"At a Glance | Sumitomo Realty & Development Co., Ltd".www.sumitomo-rd.co.jp.RetrievedJuly 27,2018.
- ^"Shinjuku Sumitomo Building, Nikken Sekkei | Tokyo | Japan | MIMOA".Mimoa.RetrievedJuly 26,2018.
- ^"History of SUMITOMO REALTY & DEVELOPMENT CO., LTD. – FundingUniverse".www.fundinguniverse.com.Retrieved2018-07-27.
- ^Cuozzo, Steve (April 18, 2018)."The scandalous history behind Kushner's ritzy Midtown building".New York Post.RetrievedJuly 26,2018.
- ^Yoshihara, Nancy (January 24, 1989)."Japanese Group Buys Marriott Hotel in Century City".Los Angeles Times.ISSN0458-3035.RetrievedJuly 27,2018.
- ^"Duyên cách".Sumitomo Realty.Archived fromthe originalon June 12, 2018.RetrievedJuly 27,2018.
- ^"City Tower at Takanawa | Tokyo, Japan | KTGY Architects".KTGY Architecture + Planning.Retrieved2019-01-30.
- ^"Hotel Villa Fontaine".www.hvf.jp(in Japanese).RetrievedJuly 27,2018.
External links[edit]
Members ofHakusuikaiarebolded.Hakusuikai is an association of the presidents of the Sumitomo companies. *Mitsui Groupcompanies | ||
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| Finance and insurance | ||
| Real estate | ||
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