December 9, 2019
Takashimaya Co., Ltd.
Toshin Development Co., Ltd.
Shimizu Corporation
In November 2019, Toshin Development Co., Ltd. (Head office: Tokyo; President: Shinsuke Kuramoto), a consolidated subsidiary of Takashimaya Co., Ltd. (Department store, Head office: Osaka; President: Yoshio Murata) and Shimizu Investment (Asia) Pte. Ltd. (Head office: Singapore; President: Haruhiko Sumi), a consolidated subsidiary of Shimizu Corporation (Head office: Tokyo; President: Kazuyuki Inoue) jointly acquired the shares of Hanoi Residential and Commercial Centre - HRCC Limited, which owns and operates INDOCHINA PLAZA HANOI, a commercial and office building complex in Hanoi, Vietnam. The equity interest of the two companies is 60% for Toshin Development and 40% for Shimizu Investment (Asia) Pte.Ltd.
The building complex faces Xuan Thuy St. in the Cau Giay district of Hanoi, which is being developed as a new urban center. It is located easily accessible to airport and close to Vietnam National University Station which is now progressing construction on Line 3 of the Hanoi Metro. A Japanese school is located close by and the area is highly popular among Japanese people and their families stationed in Hanoi.
In June 2019, Toshin Development has joined to two lots of the STARLAKE Project, which is also developed in Hanoi. The company is expanding its business in Vietnam, where further growth is projected in the future, and is expanding its overseas business, which is an area of growth for the Takashimaya Group.
Shimizu Corporation has positioned Vietnam as one of the main markets in Asia for its investment and development business. We will continue to develop offices, hotels, and residences in Vietnam.
≪For Reference≫
Project Profiles
INDOCHINA PLAZA HANOI is commercial, offices, and residential complex. Takashimaya and Shimizu have acquired the commercial and office part. In the future, we will utilize the expertise of the two companies to increase added value of the property by renovating the commercial section and other efforts. The operation company of this building complex is also affiliated with us the acquisition of the property and we will utilize the expertise of this organization in our development business in the future.
Takashimaya Co., Ltd. and Shimizu Corporation regard their alliance with good business partners as the basic strategy for overseas business and thus entered this joint project.
Property Profile
| Location | Cau Giay, Hanoi, Vietnam |
|---|---|
| Site area: | 16,619m2 |
| Total floor area | Commercial section：24,900m2 Office section：17,400m2 |
| Leasable area | Commercial section：18,600m2 Office section：13,300m2 |
| Scale | Commercial section：Floors 1-5, above ground Office section：Floors 5-15, above ground |
| Investment interest | Toshin Development Co., Ltd., 60%; Shimizu Corp., 40% |
| Year completed | 2012 |
The commercial facilities and offices are on the left, and the two residential sections are on the right.
The information contained in this news release is the current information on the date of publication. Please be aware that this information may have changed by the time you view it. Please contact the company to inquire for further details.