KUALA LUMPUR, October 20 — AMCORP Properties Bhd’s investment in Japan’s real estate is close to Japanese Yen 2.9 billion or RM102.2 million.
AMCORP’s most recent venture was its co-investment partnership with Grosvenor Asia Pacific Ltd and Nan Fung to successfully acquire 14 office and three retail units totalling about 39,000 square feet comprising about eight% of the net rentable area in a 44-storey residential-cum-commercial high rise building.
Located in Nishi Shinjuku which is also known as the “Skyscraper City of Tokyo”, the properties enjoy good connectivity with Tochomae subway station connecting it to the main Shinjuku station, it said in a statement.
Further, it has good access to public amenities such as Shinjuku Chuo Park as well business facilities such as Hilton Hotel and Hyatt Regency, all within a short walking distance.
It is anticipated that on-going redevelopments in the vicinity led by large Japanese developers such as Mitsubishi Jisho Residence and Sumitomo Realty would enhance the value of the properties, it said.
In recent years, AMCORP has been growing its overseas property portfolio.
The group made its debut into London with the acquisition of 40/50 Eastbourne Terrace, a prime freehold office building in Paddington, central London.
Following this, the group continued to embark on property projects in prime central London including 99 Baker Street, Pavilion D of NEO Bankside, Burlington Gate in Mayfair, 4B Merchant Square in Paddington and Campden Hill in Kensington.