Tokyo, Feb 10, 2006 - (JCN Newswire) - PhillipCapital, an integrated financial services group headquartered in Singapore, announced today the establishment of PhillipCapital Real Estate Japan YK (President, C. Jeffrey Char) to enter the Japanese real estate investment market.
The new company will focus on investing in residential properties in central Tokyo and funds for these investments are being raised from Singaporean investors. The initial size of the fund is estimated to be approximately 10 billion yen, but the company may increase the fund depending on market circumstances and investor sentiment.
In November 2005, the company already purchased an apartment building in the upscale Nishi Azabu area of central Tokyo. The company expects to aggressively step up its investments in prime properties with the assistance of its asset manager, Mori Urban Planning Corporation. According to Mr. Char, "Real estate investment represents an exciting opportunity for us to expand into a new business area and increase our activities in Japan. We look forward to working closely with Mori Urban Planning to achieve our goals."
About PhillipCapital Real Estate Japan YK
PhillipCapital Real Estate Japan YK invests in prime residential properties in central Tokyo. PhillipCapital Real Estate Japan was founded in 2005 and is a member of the PhillipCapital group of Singapore. The Company is located in Tokyo, Japan.
About The PhillipCapital Group
PhillipCapital is an integrated financial services provider offering a full range of quality and innovative financial services to retail, corporate and institutional customers. The group's members employ approximately 3000 staff in Asia and Europe and have total shareholders' funds in excess of US$700 million. The Group holds customer funds in excess of US$8.5 billion and has over 500,000 customers worldwide. In Japan, member companies include PhillipCapital Japan, PhillipCapital Real Estate Japan, Phillip Financials, Phillip Futures (member of TOCOM) and Naruse Securities (member of TSE).
Contact:
C. Jeffrey Char
PhillipCapital Japan KK
Tel: +81-3-3595-3631
Fax: +81-3-3595-3630
E-mail: info@phillip.co.jp
http://www.phillip.co.jp
Feb 10, 2006
Source: The PhillipCapital Group
The PhillipCapital Group
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Establish New Company
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