Titijaya signs MOU with Tokyu Land Corporation

Both parties are to share and exchange knowledge and expertise in real estate industry.

13 January, KUALA LUMPUR – Titijaya Land Berhad (Titijaya or Company or Group), a Bursa Malaysia Main Market Listed Company involved in property development, in furtherance to the announcement on 29 November 2017 in connection with the proposed share subscription by Tokyu Land Corporation, Titijaya is pleased to announce that the Company has today entered into a Memorandum of Understanding (MOU) with Tokyu Land Coporation (TLC) to establish a provisional collaboration to share and exchange their respective knowledge and expertise in the real estate industry, with the intention of further revolutionising their real estate development, and to explore potential collaborations for any property development projects that either of them may undertake.

Founded in 1953, TLC is a real estate company involved in urban development, wellness and overseas business. It is a core subsidiary of the Tokyu Fudosan Holdings Group, a Japanese company listed in the First Section of the Tokyo Stock Exchange (Stock Code: 3289). Tokyu Fudosan is also one of the companies in the Nikkei 225 Index, which refers to the price-weighted average of the 225 top-rated Japanese listed companies.

Titijaya Land Berhad Group Managing Director Tan Sri Dato’ Lim Soon Peng said: “We are delighted to welcome TLC from Japan as our new partner. By entering into the MOU, we are able to leverage on TLC’s strength to further revolutionise our business. In return, TLC as parts of its plan for international expansion, it is to establish itself in the Malaysia property development sector by capitalising on Titijaya’s current and upcoming market. This partnership will certainly complement the businesses of both groups and potentially build new business opportunities and further collaborations in various areas. We are looking forward to that.”

TLC is well known for its technology, expertise, creativity, and innovative knowledge in developing and marketing real estate with an edge, putting it a class ahead in the urban property development realm. This includes multiple large-scale projects in Shibuya (birthplace of TLC), Ginza, Takeshiba, and other urban areas. Its development in Shibuya is a transit-oriented development (“TOD”) concept with a bus terminal as well as tourist support facility that supports the activities of local and international visitors. TLC also has a good track record in property management with its major facilities located in the Tokyo Metropolitan Area and Kansai Area.

“We value the skill and knowledge transfer from TLC’s vast experience in the property development business, particularly in transit oriented development (TOD) and property management. Going forward, Titijaya will be focusing on this type of development, as the TOD concept will help a country to reduce carbon footprint while becoming more productive and livable. On the other hand, this concept will bring senior living experience to a higher level, as such living experiences will be catered to discerning individuals who have an affinity for actively engaging in all that life has to offer. With that, TLC is the perfect partner for this objective,” Tan Sri Dato’ Lim added.

According to the MOU, Titijaya and TLC are desirous of collaborating in real estate development areas such as, but not limited to, residential, office, transit oriented development, senior housing, urban hotels and other forms of hospitality, commercial and retail properties. It also includes property management and operations, as well as the establishment of or investments in real estate investment trusts (REITs).

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