Mitsui Fudosan to Establish Local Subsidiary at a Third Location in China, in Guangzhou City
July 22, 2011
Mitsui Fudosan Co., Ltd.
Mitsui Fudsosan Co., Ltd has announced that it has established a local subsidiary in Guangzhou City in Guangdong Province in the People's Republic of China, and that it will start business operations from August 22, 2011.
The Mitsui Fudosan Group has positioned its overseas business as a growth field in its long-term management plan. In this context, fast-growing East Asia has been designated as a strategic area for business growth.
The background is that in December 2005, Mitsui Fudosan established the Shanghai Representative Office, which became a local subsidiary in August 2009, and then in August 2011 a local subsidiary was established in Beijing, all with the view to strengthening its structure for capturing business opportunities in central, northern and northeastern China.
The Group has now newly established the subsidiary in Guangzhou City with the view to strengthening its structure for capturing business opportunities in southern China. Guangzhou City, the provincial capital of Guangdong Province, and is the political, economic and cultural center of the region. It had a permanent population of approximately 10.33 million at the end of 2009, with its GDP per person in 2010 being the second highest in China. Guangzhou City lies at the heart of one of China’s three major economic hubs, the Pearl River Delta economic zone, which encompasses the cities of Shenzhen, Dongguan, Foshan and Zhuhai. As such, Guangzhou City has continued to grow.
Looking ahead, the Group is leveraging its subsidiaries in the key urban cities of Shanghai, Beijing and Guangzhou, and will actively develop its residential and retail property businesses, as well as multi-purpose development projects, one of its key strengths.
|Mitsui Fudosan Consulting (Guangzhou) Co., Ltd.
|Room 1405, R&F CENTRE, No.10,
Huaxia Road, Zhujiang New Town,
Guangzhou, 510623 China
|April 30, 2011
|Started Business Operations
|August 22, 2011
|Hiroyuki Shinozuka, President
|30 million yen (wholly owned subsidiary of Mitsui Fudosan Co., Ltd.)
|Main Business Lines
|Capturing business opportunities, supporting business development