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Capitaland in Joint Venture with Mitsubishi

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Capitaland in Joint Venture with Mitsubishi News Release For Immediate Release 8 August 2012 CapitaLand in joint venture with Mitsubishi Estate for a new residential condominium in Tokyo, Japan Targets launch of new residential development, The Parkhouse Nishi - Azabu Residence in Q4 2012 Singapore, 8 August 2012 – CapitaLand Limited (CapitaLand) is pleased to announce today that it has signed a joint venture (JV) agreement with Mitsubishi Jisho Residence Co., Ltd. (MJR) and SECOM Home Life Co., Ltd (SECOM) for the joint development of The Parkhouse Nishi- Azabu Residence, a 190-unit residential project located in Minato Ward, Tokyo, Japan. MJR is a wholly-owned subsidiary of Mitsubishi Estate Co., Ltd. (MEC) while SECOM is a wholly-owned subsidiary of SECOM. Under the JV agreement, CapitaLand’s share of investment in the project is 20% while MJR’s share is 70% and SECOM owns the remaining 10%. Planned for official launch in Q4 2012, construction has begun and is targeted for completion by Q2 2014. The 24-storey building when completed will be the tallest residential building in the Nishi-Azabu area in Minato ward. Mr Chong Lit Cheong, CEO of CapitaLand Commercial Limited said, “CapitaLand is pleased to be a partner of MEC for The Parkhouse Nishi-Azabu Residence development in Azabu, our second collaboration in Tokyo, Japan after The Parkhouse Shinjuku Tower. MEC is also our strategic partner outside of Japan, with three ongoing joint ventures in Singapore and Vietnam. In Singapore, MEC holds a 25% joint venture stake in Sky Habitat, our iconic residential development in Bishan central, and a 10% joint venture stake in CapitaGreen, our latest Grade A office development in the Central Business District. The repeated collaboration into each other’s development projects reinforces the good relationship between both parties and demonstrates CapitaLand’s belief in developing long term relationships with its key partners.” 1 Mr Chong added, “Japan remains one of top five global cities in the world1. The residential sector was the best performing real estate sector in the country in 2011 and market conditions continue to favour the sector. This joint development, which is located in a prestigious residential area popular with diplomats, senior executives and expatriates, and within walking distance to Roppongi Hills and the Hiroo Station on Hibiya Line of the Tokyo Metrosubway, is an excellent addition to CapitaLand’s presence in Japan. Currently, CapitaLand’s assets under management in Japan include 3,447 units of residential properties, eight retail malls, four serviced residences and one Grade A office building in Tokyo, spreading across Japan from Kyushu to Hokkaido.” Mr Takao Yagihashi, president of Mitsubishi Jisho Residence Co., Ltd said, “Founded in 2011, we set our mission to develop high-quality and environmentally-friendly urban style condominiums. The Parkhouse, our condominium brand, is a promise to our customers of our dedication to the creation of innovative housing guided by their feedback. With the vision, ‘Always, new joy in daily life,’ we hope to build this experience together with CapitaLand, who share the same ambition.” SECOM being the market leader in commercial and residential security and support services system in Japan, has worked jointly with MJR and MEC to develop a comprehensive in-house monitoring and security system with contingency planning features known as Life Eye’s System. This system allows a 24-hour emergency team of both Mitsubishi Jisho Community call center and SECOM control center to respond speedily to any unusual activities or emergencies detected within the units or at common areas, providing homeowners with a peace of mind. The Life Eye’s System has been implemented in all MEC and MJR’s properties and the same security system will be implemented in The Parkhouse Nishi – Azabu Residence. - End - 1 According to AT Kearny and Bloomberg’s 2012 Global Cities Index 2 About The Parkhouse Nishi - Azabu Residence The Parkhouse Nishi - Azabu Residence when completed in Q2 2014 will be a modern 24- storey residential tower located in the Minato ward - one of three core wards in Tokyo, Japan (Chiyoda, Chuo and Minato) - where business headquarters, foreign companies and embassies are located. The property will comprise 156,673 square feet of net floor area (inclusive of balcony spaces) with one retail and 190-residential units. This development is a joint venture between CapitaLand Limited (20%), Mitsubishi Jisho Residence Co., Ltd. (70%), a wholly owned subsidiary of Mitsubishi Estate Co., Ltd. (MEC) and SECOM Home Life Co., Ltd (10%), a wholly owned subsidiary of SECOM. About CapitaLand Group (www.capitaland.com) CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe. The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments，spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region. The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust. About Mitsubishi Jisho Residence Co., Ltd. (MJR) (http://www.mec-r.com/) Mitsubishi Jisho Residence Co., Ltd. was founded in January 2011 to further reinforce the residential segment of the Mitsubishi Estate Group. Having developed condominiums predominantly in the Tokyo metropolitan area, as well as in Sapporo, Sendai, Nagoya, Osaka, Hiroshima and Fukuoka, MJR is the No.1 condominium supplier* in Japan. The mission of MJR as the leading company is not only to stably supply high quality condominiums, but also to consistently pursue the ideal living environments, to listen to the feedback from customers, and to provide high-quality housing for the future. 3 With the brand “The Parkhouse,” MJR aims to provide a variety of housing in wide range prices, and pursues the best both in terms of service and quality. * 2011, Real Estate Economic Institute Co., Ltd. About SECOM Home Life Co., Ltd. (SECOM) (www.secom-shl.co.jp) SECOM Home Life Co., Ltd. is a subsidiary of SECOM Co., Ltd, the pioneer and leading security company in Japan. Secom Home Life develops the ‘Glorio’ brand of condominium in Japan that place emphasis on peace of mind and comfortable living. All the condominiums developed under the Glorio series are equipped with SECOM Security systems. Secom Home Life provides one-stop housing service ranging from condominium development to property management. 4 Annex A The Parkhouse Nishi-Azabu Residence Artist’s Impression Property Details The Parkhouse Nishi-Azabu Residence Joint Developers Mitsubishi Jisho Residence Co., Ltd. (70%) CapitaLand Limited (20%) SECOM Home Life Co., Ltd. (10%) Location 39-1 ,4-chome, Nishi-Azabu, Minato-ku, Tokyo 5 Transportation 6 minutes walk from "Hiroo" Tokyo Metro・ Hibiya Line 12 minutes walk from "Roppongi" Toei Oedo Line ・Tokyo Metro Hibiya Line 14 minutes walk from "Nogizaka" Tokyo Metro Chiyoda Line 17 minutes walk from "AzabuJuban" Toei Oedo Line・Tokyo Metro Nanboku Line Land Tenure Freehold Site area 3,031 square metres (sq m) 32,625 square feet (sq ft) Total units 190 unit Car parking 87 lots Types of Unit Ranging from studio units to units with 3-bedrooms + living room + dining room + kitchen (3LDK) Residential Unit Area 42.0 sq m ~ 124.5 sq m or 452 sq ft – 1,340 sq ft Balcony area: 3.4 sq m ~ 20.5 sq m or 36.6 sq ft – 220.7 sq ft Estimated completion 2nd Quarter 2014 Unique Features Lush landscape Spacious common space Emergency supplies storage for disaster Well ground supported for quake resistance. Built using advance anti-earthquake construction method Unblock view of Tokyo Tower Website http://www.mecsumai.com/tph-azabu/index.html 6 Annex B Location Map of The Parkhouse Nishi - Azabu Residence 12 mins walk to Roppongi (Toei Oedo Line) View of Mt Fuji View of (clear day) Tokyo Tower 6 mins walk to Hiroo Station (Hibiya Line) ____________________________________________________________________________ Issued by CapitaLand Limited (Company registration no.: 198900036N) CapitaLand Limited Media Contact Analyst Contact Ho Mei Peng Harold Woo Communications Investor Relations DID: (65) 68265586, Mobile: (65) 96688290 Tel: +65 6823 3210 Email: [email protected] Email: [email protected] 7 .
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