Mitsui Fudosan is a well-established Luxury real estate developer based in Tokyo, Japan, originally established in 1673 with the opening of the Echigo-ya clothing store in Nihonbashi by Takatoshi Mitsui, founder of the House of Mitsui.

The Mitsui Company real estate section was founded in 1914 and became a separate entity in 1941 as the Mitsui Fudosan Co Ltd with 3 million Yen and wholly owned by the Mitsui family. 1961 saw the beginning of their foray into residential and vacation property and subsequently they building of Japan’s first skyscraper, the Kasumigaseki Building.

Japan’s First Skyscraper

The company has been at the forefront of luxury property development in Japan, building both residential and commercial properties. Notable properties include, but are not limited to:

• LaLaport Funabashi, Japan’s first large-scale regional shopping center, now called LaLaport Tokyo-Bay in 1981.
• Tokyo Disneyland by Oriental Land Co., Ltd., a joint-venture company set up in partnership between Mitsui Fudosan and Keisei Electric Railway Co., Ltd in 1983.
• Tsurumi Hanaport Blossom, the first factory outlet mall in Japan (Osaka) in 1995
• Nihonbashi 1-Chome Building (Coredo Nihonbashi) (Tokyo) in 2004.
• Mitsui Garden Hotel Ginza (Tokyo) in 2005.

Mitsui continues to grow, expanding into overseas ventures. Two upcoming projects are the St Regis Hotel & Residences in Singapore (planned completion 2008) and The Oceanfront@Sentosa Cove, a luxury condominium development East of Sentosa Island in Singapore.

The Oceanfront comprises five towers, 12 to 15 storeys high, each with a special curtain wall feature, exemplified by curve lines and planes that create a dynamic yet contemporary space. All 264 exquisitely designed apartments, ranging from spacious two-, three-, four-bedroom units to penthouses (Villas, Sky Suites and Sky Villas) feature full-height glass panels in the living and dining rooms to best take advantage of the magnificent waterfront views. All apartments will have a private lift lobby and most will include balconies. The early bird average price was set at $1,300 per square foot and sold 85% in the first four days of being offered. Prices for individual condominiums ranged from $1.5 million to more than $8 million. Completion of this project is expected 2009.

Mitsui Fudosan

Sentosa Cove is a luxury residential development on Sentosa Island, Singapore. Once building is complete,  eventually housing about 2,500 units. The Island is mostly made of reclaimed land and the development is it is being marketed as a "exclusive oceanfront residential community.”

The master developer of the site is Sentosa Cove Pte Ltd, which is a subsidiary of Sentosa Development Corporation. SDC purchased the site from the Singapore Land Authority for a sum of about S$800 million.

The idea was originally conceptualized by Bernard Spoerry (Port Grimmaud, France) then updated by McKerrell Lynch. The first offering of apartments were apparently sold out within the first few days of being offered, which makes it surprising that so many luxury real estate agents are still offering them for sale.

Sentosa Cove represents the first, and thus far, only opportunity, for foreign investors to own residential land in Singapore,. Sentosa Cove investors receive a variety of financial benefits, in addition to 48 hour fast-track approval when purchasing properties or plots. The marina and associated berths attached to luxury waterfront housing estates will ultimately cater for more than 700 boats, of which ten of the marina berths will house 50 meter mega-yachts.

Sentosa Cove Home Page

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