Sumitomo Realty & Development Co., Ltd. history, profile and corporate video
Sumitomo Realty & Development Co., Ltd. is a Japanese real estate development company headquartered in Shinjuku, Tokyo, Japan. It was established in 1949 as Izumi Real Estate Co., Ltd., which was the successor to the holding company of the Sumitomo zaibatsu following the breakup of the conglomerate.
In 1957, Izumi Real Estate Co., Ltd. changed its name to Sumitomo Realty & Development Co., Ltd.
In 1963, the company merged with the holding company of the former Sumitomo zaibatsu during its liquidation.
The company operates through the following business segments: Office Buildings, Condominiums, Housing Construction, Apartments, and Hotels.
The Office Buildings segment develops excellent office buildings focusing on redevelopment projects in central Tokyo.
The Condominiums segment involves condominium development and sales.
The Housing Construction segment handles the construction of houses, skeleton renovation business for condominiums, or condominium remodeling.
The Apartments segment involves 4 000 apartments in Tokyo’s premier locations.
The company operates the Hotel Villa Fontaine chain, which has more than 15 properties in Japan.
Major Consolidated Subsidiaries
- Sumitomo Fudosan Tatemono Service Co., Ltd. (established in 1973)
- Sumitomo Real Estate Sales Co., Ltd. (established in 1975)
- Sumitomo Fudosan Syscon Co., Ltd. (established in 1980)
- Sumitomo Fudosan Finance Co., Ltd. (established in 1984)
- Sumitomo Fudosan Esforta Co., Ltd. (established in 1986)
- Sumitomo Fudosan Villa Fontaine Co., Ltd. (established in 1997)
- Sumitomo Fudosan Bellesalle Co., Ltd. (established in 2008)
With more than 13 000 employees, Sumitomo Realty & Development Co., Ltd. is considered one of the largest real estate developers in Japan and it has one of the largest real estate portfolios in Japan. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and www.sumitomo-rd.co.jp/english.
**Video published on YouTube by “Economy Trivia“.