September 27, 2021
Real Estate

Sumitomo Corporation : Group – Participating in logistics real estate development business in the US

The Sumitomo Corporation Group will enter the logistics property development business as part of its real estate business in the US. In June 2021, with US developers and other parties, Sumitomo Corporation of Americas (SCOA) committed to invest 24 million US dollars (approx. 2.6 billion yen) in two logistics facilities located close to points of consumption in Dallas, TX. Starting from this investment, our Group will expand investment in the logistics property development business in the US.

In the US, as in Japan, the logistics real estate market is continuously expanding on the back of the rapid development of the e-commerce sector, and it is expected to continue growing for years to come. In particular, Dallas, along with the adjacent city of Fort Worth, is favorably located to provide easy access to other regions of US and Latin American countries, making the city a major…

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