Meiho Enterprise Co., Ltd. (Meguro-ku, Tokyo: Representative Director: Mitsuru Yabuki, hereinafter referred to as "Meiho Enterprise"), which supplies over 150 "newly built single-building investment rental housing" mainly in Tokyo's 23 wards, held individual business meetings in Singapore on March 7th and 8th, 2024 with the cooperation of local intermediaries with the aim of strengthening sales to overseas investors. Since March 2023, Meiho Enterprise has been gradually expanding its sales routes in Asia, including Taiwan, and this is its first foray into Singapore.
■Background
Meiho Enterprise has been expanding its sales routes in Asia since holding a seminar in Taiwan in March 2023. A seminar was also held in Taiwan in November of the same year, and the number of properties purchased by overseas investors in Asia is doing well, with 12 properties purchased in the July 2023 period (August 2022 to July 2023), and 7 properties purchased as of August 2023 to February 2024.
Japan's commercial real estate market is worth approximately 4 trillion yen per year, of which approximately 1 trillion yen is purchased by overseas investors, including foreign real estate funds. Singapore, where we have recently entered, accounts for approximately 45% of that, or 450 billion yen. In addition, due to the recent accelerated depreciation of the yen in the foreign exchange market and the recovery of inbound demand, demand for Japanese real estate investment in Singapore is showing a further upward trend.
In response to this, Meiho Enterprise held individual business meetings for its flagship product, the EL EL FARO investment rental apartment brand, targeting institutional and individual investors in Singapore, primarily with local intermediaries, in order to further expand its sales routes within Asia.
*1 (Survey conducted by Nikkei Research Institute on November 24, 2023)
Explaining the company and product details to a local staff member of a Japanese intermediary
* "EL EL FARO" series
■ Meiho Enterprise 's overseas sales expansion strategy
In Singapore, there is a lot of interest in Japanese real estate, and there is a high demand for bulk purchases of not just one building but multiple buildings at once, creating a need for a continuous, long-term supply of properties.
Meiho Enterprise has the advantage of having an integrated system in which group companies handle everything from land acquisition to development, sales, construction and management, and plans to supply 50 buildings per year, enabling it to provide a stable supply in line with the needs of investors and market trends in Singapore.
Harashima Shinya, Sales Department Manager at Meiho Enterprise who participated in this business match event, said, "Singapore is one of the most important countries for our overseas sales strategy. During this business trip, we conducted many business meetings, mainly with institutional investors, and all of the investors showed a high interest in investing in Japanese real estate. We received an overwhelming response, with some investors even reaching concrete business negotiations and requesting to come to Japan to view properties. We will continue to engage in proactive overseas sales activities in order to expand our business."
Aiming to further expand its overseas sales routes, Meiho Enterprise will continue sales activities to individual and institutional investors in Taiwan and Singapore, while also strengthening sales within the Asian region.
In April of this year, we plan to set up a department dedicated to overseas sales activities and create a management system for dealing with non-residents, and to hold individual business meetings in Hong Kong in May.
<<Customer Inquiries Regarding the Next Hong Kong Individual Business Meeting>>
Contact: Meiho Enterprise Sales Department, Yamaguchi, Nagashima, Shimizu Phone number: 03-5434-7657
メールアドレス:hanbai@meiho-est.co.jp
About Meiho Enterprise
Meiho Enterprise was founded 56 years ago and is a Tokyo Stock Exchange listed developer with a reputation for reliability and a proven track record of manufacturing. We have supplied over 150 "newly built single-building investment rental housing" mainly in Tokyo's 23 wards. We value lifelong relationships and the passion to pass on to the next generation.
Our newly built investment rental apartments "EL EL FARO" and "MIJAS" are located mainly in the Jonan and Josai districts, where the ground is strong and the asset value is unlikely to fall. Both series have an average occupancy rate of approximately 97% (as of February 2024), and are supported by customers as stable investment products that are effective for asset protection and inheritance tax measures, while achieving high and long-term occupancy with excellent locations, attractive designs, and high-quality facilities and specifications.
*"MIJAS" series
■ Company Profile Meiho Enterprise Co., Ltd.
Representative: Representative Director Mitsuru Yabuki
Headquarters: Tokyo Meguro-ku Meguro 2-10-11 Meguro Yamate Place 4F,5F,9F
Established: September 9, 1968
Homepage: https://meiho-est.com/
Business: Real estate development