Sovereign wealth fund GIC has just bought a prime property in the heart of Tokyo’s business district. The 32-storey mixed-use Pacific Century Place Marunouchi is close to the Tokyo Imperial Palace. GIC bought the office portion of the building. The price tag? In the region of US$1.7 billion.
Here’s a look at what else is in GIC’s Japan property portfolio:
Terrace Mall Shonan
This popular regional shopping centre was developed by GIC and Sumitomo Corporation.
Completed in 2011, it features a Cath Kidston’s café, a food court featuring food shops from the Shonan area as well as the usual Japanese and international fashion brands. Terrace Mall Shonan is directly connected to Tsujido station, which is about a 50-minute train ride from Tokyo station. It is about 50km south-west from central Tokyo. Westin Tokyo
GIC acquired the asset in 2008.
The 438-room, five-star hotel is located in the heart of Tokyo, a stone's throw from the entertainment area of Roppongi and the shopping streets of Shibuya and Harajuku streets.
The hotel sits within the elegant Ebisu neighbourhood and adjoins the Yebisu Garden Place complex. The Westin marked its 20th anniversary this year. Shiodome City Center
This 42-storey, Grade-A office tower located in Shiodome, next to the Ginza district was completed in 2003.
The Hilton Fukuoka and Fukuoka Hawks Town
This comprises a 1053-room, prime oceanfront hotel and a 45,400-sqm retail complex.