News Releases

* Information contained in this news release is current as of its date of announcement. Be aware that information contained herein is subject to change without notice.

Mitsui Fudosan Group Plans Sanchong Zhongxing Bridge Project (tentative name)
as First for Built-for-Sale Housing Joint Venture with Panasonic Group in Taiwan

August 7, 2018
Mitsui Fudosan Co., Ltd.
Mitsui Fudosan Residential Co., Ltd.
Panasonic Homes Co., Ltd.

Key Points of the Project

  • Mitsui Fudosan Group and Panasonic Group established their first built-for-sale housing joint venture in Taiwan
  • The first project in Taipei will fully leverage both group’s housing expertise honed in Japan and overseas
  • Both groups aim to continually expand their housing businesses in Taiwan

Tokyo/Osaka, Japan, August 7, 2018 ? Mitsui Fudosan Co., Ltd., and Mitsui Fudosan Residential Co., Ltd., leading global real estate companies headquartered in Tokyo, and Panasonic Homes Co., Ltd., announced today that they are planning the first project for Sanmatsu Development and Construction Co., Ltd., the first joint venture established in 2017 between Mitsui Fudosan Group and Panasonic Group to promote their built-for-sale housing business in Taiwan.
The planned project is tentatively named the Sanchong Zhongxing Bridge Project, and it is expected to pave the way for their continued growth in the housing business in Taiwan going forward.

Sanmatsu Development and Construction brings together the housing business expertise of both Mitsui Fudosan and Panasonic groups honed in Japan and overseas to offer high-quality, sophisticated living spaces that Japanese companies are so renowned for. The joint venture will offer Taiwanese customers a new lifestyle in light of actual living conditions, and contribute further to improving housing in Taiwan by striving to differentiate itself from local companies.

The planned site of the first project is situated in a rezoning district approximately 1.8 miles (3 km) from Taipei Station in the center of the city. The closest MRT station is Sanchong (approximately 5 minutes from Taipei Station), where there are strong prospects for future development given the planned redevelopment around the station.
In addition to its close proximity to the city center and ample future potential, the site offers a living environment surrounded by greenery with the Tamsui River and Taipei Metropolitan Park only a short distance away. Moreover, the project plans to add originality and ingenuity unique to these industry-leading companies given their strong track record in Japan and overseas, including a Japanese-style color selection plan, periodic after-sales services, and the installation of Panasonic’s smart condominium system.

Perspective drawing of completed Sanchong Zhongxing Bridge Project (tentative name)

Business Format

Operating Company Overview

Name Sanmatsu Development and Construction Co., Ltd.
Location 26F, No. 66, Section 1, Zhongxiao West Road, Zhongzheng District, Taipei City, Taiwan
Representative Chairman Ichiro Shimomachi (Managing Director of Mitsui Fudosan Taiwan Co., Ltd.)
Date of establishment July 6, 2017
Capital 40.00 million NTD (approx. 150 million yen) *1 NTD: 3.6 yen (exchange rate as of end of July 2018)
Investors Mitsui Fudosan Taiwan Co., Ltd., Panasonic Homes Taiwan Co., Ltd.

First Project Overview (Provisional)

Name Sanchong Zhongxing Bridge Project (tentative name)
Location Zone 417, Sanchong Section, Sanchong District, New Taipei City, Taiwan
Access Around 3,000 feet (950 meters), or 12 minutes on foot to MRT Sanchong Station,
3 minutes on foot to Chongxin Bridge bus stop
Site area Approx. 33,130 ft2(3,078.17 m2)
Total floor area Approx. 191,750 ft2(17,814.45 m2) (including underground area)
Structure / Scale Steel-reinforced concrete, 19 floors above ground, 3 floors below ground
Number of units 137 (including landowners’ units)
Schedule Construction start: autumn 2018
Construction completion: 2021

Location Map

Map of the surrounding area

Click map to enlarge

Detailed map

Click map to enlarge