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Mitsui Fudosan Residential Accelerates Housing Sales Business Projects in Southeast Asia
Decides to Participate in First Condominium and Detached Housing Projects (Approx. 4,200 Units) in Thailand and Indonesia

August 29, 2013
Mitsui Fudosan Residential Co., Ltd.

Mitsui Fudosan Residential Co., Ltd. today decided to participate in 3 projects to develop and sell 2,321 condominium units and 1,875 detached homes in Bangkok, the capital of Thailand, as well as Jakarta, the capital of Indonesia, together with the adjoining city of Tangerang. Mitsui Fudosan Residential will participate in these projects through Mitsui Fudosan (Asia) Pte. Ltd. (headquartered in Singapore), which is a joint venture of both Mitsui Fudosan and Mitsui Fudosan Residential.

In Southeast Asia, the Mitsui Fudosan Group has been engaged in housing sales and hotel businesses together with the Hong Leong Group, a local business conglomerate in Singapore, for over 40 years. In Malaysia, the Group is making steady strides with the Mews Project, a condominium project in Kuala Lumpur that the Group joined in March 2013, and an outlet mall project. We will be participating in projects for the first time in Thailand and Indonesia. We see both countries as promising markets offering strong prospects for expansion in their respective housing markets, based on the growing ranks of middle-income earners driven by steady economic growth. While maximizing the expertise we have acquired in housing development, marketing and other areas in Japan, Singapore and Malaysia, we will press ahead with these development projects in line with local business practices.

In Thailand, we have joined forces with Ananda Development Public Company Limited, a leading local housing developer, to develop a 1,875-unit condominium project called Rama IV (tentative name). The planned site is located next to the Silom-Sathorn area, which lies at the heart of the Thai capital Bangkok's central business district. It offers excellent access, located just a 4 minute walk from Sam Yan Station, which is just one station away from Bangkok's main Silom Station. The areas surrounding the site are home to many educational institutions and medical institutions, including Chulalongkorn University, one of Thailand's leading universities. This site also boasts a highly convenient location for daily life, with easy access to Lumphini Park, a gathering place for residents, and Siam Paragon, one of Bankgok's foremost retail facilities.

In Indonesia, we will jointly develop two projects with the Ciputra Group, one of the country's leading local developers with a strong track record in large-scale township developments. The first project is a 446-unit condominium project called CitraGarden City / Citra Block 6. The second project is an 1,875-unit detached housing sales business project called Citra Raya / Ecopolis Block. Both properties are large-scale township developments undertaken by the Ciputra Group over the long term. Township development refers to large-scale integrated urban development projects based on comprehensive urban planning, including infrastructure development.

Furthermore, Mitsui Fudosan (Asia) Pte. Ltd. has become a joint venture of both Mitsui Fudosan and Mitsui Fudosan Residential. Mitsui Fudosan has increased its investment in the company, while Mitsui Fudosan Residential has become a new investor. Looking ahead, Mitsui Fudosan (Asia) will be positioned as a core company for promoting business in Southeast Asia. Accordingly, the Mitsui Fudosan Group will accelerate business development centered on housing sales business projects, where growing demand is anticipated on the back of economic growth and continuing urbanization, and on retail facilities projects, which are set to capture growth in personal consumption.

Rama IV (tentative name)
(Artist's impression)

CitraGarden City Citra Block 6
(Artist's impression)

Southeast Asia Regional Map

Project in Thailand

Plan outline

Location Bang Rak District, Maha Phruettharam, Bangkok, Thailand
Access A 4 minute walk from Sam Yan MRT Station
Site area Approx. 9,452 m2
Tenanted area Condominiums: Approx. 48,129 m2; Retail: approx. 633 m2
Structure: 42 floors above ground
Number of units Condominiums: 1,875 units; One retail zone
Schedule Fall 2013: Sales scheduled to start
2014: Start of main construction
2016: Units scheduled for delivery to customers

About Ananda Development Public Company Limited

  • Established in 1999, Ananda Development Public Company Limited is a leading Thai housing developer that listed its shares on the Stock Exchange of Thailand in December 2012.
  • Ananda has built a distinctive value chain with its own housing management company, real estate brokerage company, and construction company within the group. It also manages a membership organization whose members are potential customers.
  • Ananda is proposing comfortable urban residential lifestyles via the mass media, concentrating on properties close to urban mass transit stations.
  • Ananda has a market capitalization of 26.0 billion yen (as of July 2013) and revenues of 16.0 billion yen (fiscal 2012).

Location map

Projects in Indonesia

(1) CitraGarden City Citra Block 6

1. Location CitraGarden City Citra Block 6, Jakarta, Indonesia
2. Number of condominiums 446
3. Buildings 4 condominium buildings; Each building has 14 floors above ground, 1 underground floor.
4. Site area 12,504 m2
5. Total floor area 44,798 m2
6. Sales area 29,198 m2
7. Schedule (tentative) 2014: Start of main construction
2014: Start of sales
2019: Completion of project

Configuration map

(2) Ecopolis block in Citra Raya

1. Location Part of the Ecopolis block in Citra Raya, Tangerang, Indonesia
2. Number of units 1,342 detached homes, 533 shop-houses (homes with store space)
3. Land area 671,525 m2
4. Sales area 330,068 m2
5. Schedule (tentative) Fall 2013: Start of sales (Phase 1 sales block)
2014: Start of main construction
2024: Completion of project

Artist's impression

Outline of joint business partner
About the Ciputra Group

  • A corporate group led by PT Ciputra Development Tbk. (established in 1981), a publicly listed real estate development company in Indonesia.
  • Since the 1980s, Ciputra Development has been promoting the development of townships on the outskirts of Jakarta. In recent years, the company has been developing projects in regional cities outside Jakarta, as well as projects in Vietnam, Cambodia, and China.
  • Ciputra Development has a market capitalization of 156.0 billion yen (as of July 2013) and revenues of 32.0 billion yen (fiscal 2012).

Location map

Mitsui Fudosan Group's project history in Southeast Asia

(1) Singapore

In Singapore, Mitsui Fudosan has been engaged in the housing sales business and hotel business for more than 40 years, through TID Pte. Ltd., a joint-venture company that we established together with the Hong Leong Group, a local business conglomerate. (Number of condominiums supplied: Approx. 8,300)

Condominium The Oceanfront @ Sentosa Cove (Completed in 2010)

Mixed-use development (luxury hotel and high-end residences) St. Regis Hotel & Residences (Fully completed in 2008)

(2) Malaysia

Condominium “The Mews”
Plan Outline

Location Yap Kwan Seng Road Kuala Lumpur, Malaysia
Access A 10 minute walk from KLCC Station, LRT Line
Site area Approx. 5,211 m2
Condominium area Approx. 27,786 m2
Number of condominiums 256
Structure 38 floors above ground, 1 underground floor
Schedule April 2013 Start of advance sales
2014 Start of main construction (planned)
2017 Completion (planned)

Artist's impression

Outlet mall Mitsui Outlet Park Kuala Lumpur International Airport (KLIA) (Tentative Name)
Plan Outline

Location On the premises of Kuala Lumpur International Airport
Phase 1
Store floor space
Number of stores

Approx. 25,000 m2
Approx. 140
Start of construction in 2013
Opening in early 2015
Final Phase
Store floor space
Number of stores

Approx. 46,300 m2
Approx. 260
Details of the second phase and beyond have not yet been determined.

Artist's impression