Taisei Corporation has a long track
record of success in large-scale real estate development projects.
In this area, its role goes far beyond facility design and
construction. Addressing projects from multiple perspectives,
the Company provides a wide variety of services, such as project
master planning, assembly of project teams, acquisition of
necessary permits, fund procurement, tenant leasing, and property
management.
Taisei established its Urban Development Division in January
2001 and as of June 2004 was handling real estate development
projects with approximately 300 employees located all across
Japan. Among them were 77 certified redevelopment planners
and as many as 23 urban and regional planning engineers. With
such an in-house staff of specialists, one of the Company's
strengths is the ability to provide wide-ranging, integrated
support for real estate development projects. In the end,
by having clients invest in the most appropriate construction,
the Company gains orders for construction work.
At a time when urban redevelopment has become an important
topic in Japan, redevelopment of urban properties is gaining
attention as a matter of government policy and is expected
to be a promising business area. Taisei has the best track
record in this field among general contractors and has been
involved in approximately 20% of all urban redevelopment projects
in Japan. As of this year, the Company has completed projects
in over 110 areas throughout the country.
For development plans led by Japan's public sector, PFI (Private
Finance Initiative) schemes have become increasingly common
in recent years. As of June 2004, Taisei had been selected
as the PFI contractor for 10 projects and has, as a result,
become one of Japanfs leading companies in this area.
In particular, in April of 2003, Taisei was selected as the
contractor for the Central Government Office Building No.
7 Project, the first full-fledged PFI based operation authorized
as an urban redevelopment project by the Ministry of Land,
Infrastructure and Transport. The Company is currently moving
forward with preparations to start construction in January
2005.
Taisei has also accumulated a wealth of experience in real
estate securitization and various forms of project finance.
REITs (Real Estate Investment Trusts) are one form of real
estate securitization. Taisei invested early on in one (Japan
Prime Realty Investment Corporation) as a general contractor
and has helped to bring outstanding development projects to
fruition.
These are only a few of the ways that Taisei fully applies
its comprehensive strength extending from construction and
civil engineering to areas such as finance and project management
and makes richer, more attractive urban development a reality.
Landmark Tower and Queen's Square Yokohama of the MM21 project, Kanagawa Pref., Japan
