Jun. 26, 2019
Sumitomo Corporation
Full-scale commercial facility development consulting and property management businesses to be launched in China
Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) will be underwriting a capital increase for Shanghai Chamberlee Property Management Co., Ltd. (Head Office: Shanghai, China; Representative: Sun Hao; hereinafter, “Chamberlee”), a Chinese commercial property management company, as part of a full-scale move into the commercial facility development consulting (Note 1) and property management (Note 2) businesses in China.
Sumitomo Corporation has been providing consulting services on commercial facility development for the past three and a half years since establishing Shanghai Chamberlee Tomosho Property Management Co., Ltd. (hereinafter, “Chamberlee Tomosho”), as a joint venture with Chamberlee in November 2015, garnering in the process a certain degree of knowledge, experience and name recognition in China’s commercial facility business.
By directly investing in Chamberlee and dispatching a number of personnel, including a full-time vice president, Sumitomo Corporation will be taking active part in proposing strategies and expanding business operations, utilizing Chamberlee as a platform for acquiring commercial facilities and renovating existing facilities.
Many new shopping centers have been opened in China in recent years, but quite a few of these lack adequate planning, marketing and operational management, noticeably widening the disparities among these facilities. Given the need for differentiating and efficiently operating appealing facilities, growing attention is being focused on Japan’s know-how in commercial facility development, operation and renovation, considered among the most advanced and highest in quality in Asia.
Chamberlee is involved in operating/managing the Suzhou Olympic Sports Center (Suzhou), MORE MEE (Shanghai) and a broad range of other commercial facilities centered in East China, which is enjoying high income levels and ongoing economic development, and it has cultivated a wealth of experience and know-how in such areas as commercial facility renewal, asset management, and tenant leasing.
Sumitomo Corporation, together with its wholly-owned subsidiary Sumisho Urban Kaihatsu Co., Ltd. (Head Office: Chuo-ku, Tokyo; President and CEO: Toshihiko Takano; hereinafter, “Sumisho Urban Kaihatsu”), has shown particular strength in developing and operating a wide variety of commercial facilities, among them being Terrace Mall Shonan, one of the largest shopping centers in the Shonan area and winner of the Gold Award in the 2015 Japan SC Awards, GINZA SIX, one of Japan’s leading luxury malls, and MOMO Terrace, a renewal project involving the conversion of a department store into a shopping center.
Sumitomo Corporation has long been part of condominium projects in China, and it will be utilizing the know-how it has fostered in both Japan and China to actively pursue future projects, with an eye on developing commercial facilities as well as residential and commercial complexes.
(Note 1) The commercial facility development consulting business entails planning/developing commercial facilities at the behest of the owner, and includes conceptual planning, leasing, design supervision, and pre-opening preparations of these facilities as well as area marketing research.
(Note 2) The property management business entails managing/operating commercial facilities at the behest of the owner, and includes operation/management, tenant support, marketing and sales promotions as well as facility management.
Sumitomo Corporation has been providing consulting services on commercial facility development for the past three and a half years since establishing Shanghai Chamberlee Tomosho Property Management Co., Ltd. (hereinafter, “Chamberlee Tomosho”), as a joint venture with Chamberlee in November 2015, garnering in the process a certain degree of knowledge, experience and name recognition in China’s commercial facility business.
By directly investing in Chamberlee and dispatching a number of personnel, including a full-time vice president, Sumitomo Corporation will be taking active part in proposing strategies and expanding business operations, utilizing Chamberlee as a platform for acquiring commercial facilities and renovating existing facilities.
Many new shopping centers have been opened in China in recent years, but quite a few of these lack adequate planning, marketing and operational management, noticeably widening the disparities among these facilities. Given the need for differentiating and efficiently operating appealing facilities, growing attention is being focused on Japan’s know-how in commercial facility development, operation and renovation, considered among the most advanced and highest in quality in Asia.
Chamberlee is involved in operating/managing the Suzhou Olympic Sports Center (Suzhou), MORE MEE (Shanghai) and a broad range of other commercial facilities centered in East China, which is enjoying high income levels and ongoing economic development, and it has cultivated a wealth of experience and know-how in such areas as commercial facility renewal, asset management, and tenant leasing.
Sumitomo Corporation, together with its wholly-owned subsidiary Sumisho Urban Kaihatsu Co., Ltd. (Head Office: Chuo-ku, Tokyo; President and CEO: Toshihiko Takano; hereinafter, “Sumisho Urban Kaihatsu”), has shown particular strength in developing and operating a wide variety of commercial facilities, among them being Terrace Mall Shonan, one of the largest shopping centers in the Shonan area and winner of the Gold Award in the 2015 Japan SC Awards, GINZA SIX, one of Japan’s leading luxury malls, and MOMO Terrace, a renewal project involving the conversion of a department store into a shopping center.
Sumitomo Corporation has long been part of condominium projects in China, and it will be utilizing the know-how it has fostered in both Japan and China to actively pursue future projects, with an eye on developing commercial facilities as well as residential and commercial complexes.
(Note 1) The commercial facility development consulting business entails planning/developing commercial facilities at the behest of the owner, and includes conceptual planning, leasing, design supervision, and pre-opening preparations of these facilities as well as area marketing research.
(Note 2) The property management business entails managing/operating commercial facilities at the behest of the owner, and includes operation/management, tenant support, marketing and sales promotions as well as facility management.
| <Reference> | ||
| ■ Profile of Chamberlee | ||
| Established | : | February 2007 |
| Nature of business | : | Commercial facility development/operation consulting and property management (PM) in China |
| Representative |
: | Sun Hao, Representative Director and President |
| Employees | : | 85 full-time employees |
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to “Contributing to the Development of Local Communities and Industries” and “Establishing a Foundation for Comfortable and Enriching Lifestyles”.
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