GIC moving to bigger office in Tokyo finance zone
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The company will leave its current place in Pacific Century Place Marunouchi and move into Shin Marunouchi Building in early January.
PHOTO: ST FILE
Follow topic:
- GIC, Singapore's sovereign wealth fund, is relocating to a bigger Tokyo office in January to expand its Japanese presence.
- The move to Shin-Marunouchi Building reflects GIC's increasing interest in Japan's attractive financial market due to regulatory reforms and inflation.
- Despite decreased portfolio allocation in 2024, GIC plans to enlarge its Japan-focused team and pursue "good, risk-adjusted returns" (Bloomberg).
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TOKYO - Singaporean sovereign wealth fund GIC is moving to a larger office in Tokyo’s main financial district, strengthening its presence in Japan as the country’s financial markets gain momentum.
The company will leave its current place in Pacific Century Place Marunouchi, a building in which it owns a stake, and move into Shin Marunouchi Building in early January, according to people familiar with the matter, asking not to be identified discussing private matters. A GIC spokesperson confirmed the firm is moving, adding that space will more than double.
Owned by Mitsubishi Estate, the building is a 38-story mixed-use office tower that is sandwiched between Tokyo Station and the Imperial Palace.
The area, called Marunouchi, is one of the most prestigious office addresses in Tokyo, and commands some of the highest per-unit rents in the capital city.
Other tenants in Shin Marunouchi include Carlyle Group, SMBC Nikko Securities and Neuberger Berman Group. Mitsubishi Estate did not immediately comment.
GIC has said in recent years it is more interested in opportunities in Japan as regulatory reform and the return of inflation have made the market attractive for deals and real estate investment.
The company said it sees significant bottom-up opportunities in the region, and it is sourcing for deals that “can generate good, risk-adjusted returns”, the company said in an e-mailed statement to Bloomberg.
Still, Japan exposure as a proportion of GIC’s overall portfolio had fallen to 4 per cent as of March 2024 compared with 12 per cent in 2019. GIC did not provide an updated figure for Japan investments in its annual report in 2025.
In 2024, GIC’s chief investment officer Bryan Yeo said in an interview that the firm plans to grow the team of 40 staff looking at deals related to Japan and expects the pipeline to get bigger. BLOOMBERG
