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Tuesday, 4 July 2017, 15:09 HKT/SGT

Source: Mitsubishi Corporation
Realizing the Vision of "Next-Generation Suburban Town Planning" "DRESSER WISE Tama-Plaza" to be Completed in September 2018
Court A (88 units) immediately sold out through membership priority sales. Guest Salon to open later this month.

TOKYO, July 4, 2017 - (JCN Newswire) - Tokyu Corporation, Mitsubishi Corporation, Mitsubishi Jisho Residence Co., Ltd., and Obayashi-Shinseiwa Real Estate Co., Ltd. are pleased to announce that "DRESSER WISE Tama-Plaza", a condominium designed based on the WISE City concept, will be delivered in September 2018. The WISE City concept is outlined in the "Next-Generation Suburban Town Planning" framework elaborated by the public and private interests, and is meant to foster the development of suburban communities in which the daily needs of residents are available within walking distance while providing a safe living environment.

At just four minutes' walk from Tama-Plaza Station on the Tokyu Den-en-toshi Line, which connects Tokyo and Yokohama, the property is at a prime location and provides a total of 278 units across three towers - Courts A, B, and C. The lower level will include "CO-NIWA Tama-Plaza", a multi-purpose facility equipped with a co-working space, nursery, after-school child care facility, community cafe, and event space, which will also be open to non-residents. The residential complex will provide a safe living environment for the elderly, and encourage interaction between generations by including facilities attractive to younger generations.

Court A was sold through priority sales to home seekers registered in the proprietors' real estate member database from February to April 2017. All 88 units were immediately sold out. Approximately 70 percent of the buyers are currently living in surrounding areas such as Yokohama's Aoba Ward. The home ownership rate among them was 80 percent, which demonstrates that there is high demand among home owners considering relocating to a more convenient spot within the same area. General sales, including requests for documents and pre-booked information sessions, have been taking place since late April, and the grand opening of the Guest Salon, a showroom and consultation corner, is scheduled to take place on July 8.

The northern area of Tama-Plaza Station, where the property is located, has been a part of a framework for "Next-Generation Suburban Town Planning" being executed by the City of Yokohama and Tokyu Corporation since 2012. The plan is aimed at solving a number of issues faced by suburban residential communities and falls with the context of increased collaboration between public, private, industrial, and academic sectors. "DRESSER WISE Tama-Plaza" is expected to play an integral role in making the "Community Living" concept where all residents have access to essential facilities and can live in a safe and wholesome environment, a reality.

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About Mitsubishi Corporation

Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry, including industrial finance, energy, metals, machinery, chemicals, and daily living essentials. MC's current activities have expanded far beyond its traditional trading operations to include investments and business management in diverse fields including natural resources development, manufacturing of industrial goods, retail, new energy, infrastructure, finance and new technology-related businesses.

With over 200 offices and subsidiaries in 90 countries and regions worldwide and a network of approximately 1,300 group companies, MC employs a multinational workforce of over 70,000 people.

For more information, visit

Mitsubishi Corporation
Telephone: +81 3 3210 2171 
Facsimile: +81 3 5252 7705

July 4, 2017 15:09 HKT/SGT
Source: Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058)

Topic: Press release summary
Sectors: Real Estate
From the Asia Corporate News Network

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