SYLA Technologies Announces Sale of Condominium Development Site in Shimo-Meguro, Tokyo
30 Agosto 2023 - 2:30PM
SYLA Technologies Co., Ltd. (NASDAQ: SYT)
(“SYLA” or “the Company”), operator of Japan’s largest
membership real estate crowd-funding platform, Rimawari-kun,
announced its subsidiary, SYLA Co., Ltd. (“SYLA Co.”) has sold a
condominium development site in Shimo-Meguro 3-chome, located in
Meguro-ku, Tokyo, Japan, on June 30, 2023.
As part of SYLA Co.’s real estate development
and management strategy, it undertakes third-party projects and
provides a comprehensive service for condominium development,
leasing, and building management. In September 2021, SYLA Co.
obtained a license for its Special Construction Business, which
allows it to contract construction for other third-party
condominium projects. Following the market strategy, SYLA Co.
provides construction contracting services for new properties and
planning proposals utilizing its condominium development
capabilities and expertise.
Property Information and Sale Details
- Summary of the Land SoldLocation: 3-chome,
Shimo-Meguro, Meguro-ku, TokyoAccess Point: 10-minute walk from
Meguro Station (JR Yamanote Line)
6-minute
walk from Fudomae Station (Tokyu Meguro Line)Site Sizing Area:
652.68 m2 (measured area) (including road setbacks)Zoning:
Commercial zone; 80% Building-to-land ratio; 500% Floor-area
ratio
- Buyer and Sale PriceDue to a confidentiality
agreement with the buyer, SYLA Co. will not disclose the buyer and
the sale price.
- Future ProspectRevenue from this land sale has
already been included in the consolidated earnings forecast for the
fiscal year ending December 31, 2023.
- Additional NoteAfter acquiring this site of
approximately 213.8 square meters in February 2022, SYLA Co.
expanded the site to approximately 652.7 square meters by September
2022.
About SYLA Technologies Co., Ltd.Headquartered
in Tokyo, Japan, our company consists of SYLA Technologies Co.,
Ltd. and its consolidated subsidiaries (SYLA Co., Ltd., SYLA Solar
Co., Ltd., SYLA Brain Co., Ltd., and SYLA Biotech Co., Ltd.). The
Company owns and operates the largest membership real estate
crowd-funding platform in Japan, Rimawari-kun, which targets
individuals, corporate and institutional investors, as well as high
net worth individuals. Their mission is to democratize real estate
investment around the world through technology and asset management
through the Rimawari-kun platform. They are engaged in the overall
investment condominium business, including planning, development,
construction, sales, rental management, building management, repair
work, and the sale of properties. Additional information about the
Company’s products and services is available at
https://syla-tech.jp/en
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act and other securities laws. Words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates”
and similar expressions or variations of such words are intended to
identify forward-looking statements. For example, the Company is
using forward-looking statements when it discusses the expected
gross proceeds and the closing of the offering. Forward-looking
statements are not historical facts, and are based upon
management’s current expectations, beliefs and projections, many of
which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management’s expectations,
beliefs and projections will be achieved, and actual results may
differ materially from what is expressed in or indicated by the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements. For a more detailed description of the
risks and uncertainties affecting the Company, reference is made to
the Company’s reports filed from time to time with the Securities
and Exchange Commission (“SEC”), including, but not limited to, the
risks detailed in the Company’s annual report on Form 20-F, filed
with the SEC on April 18, 2023. Forward-looking statements speak
only as of the date the statements are made. The Company assumes no
obligation to update forward-looking statements to reflect actual
results, subsequent events or circumstances, changes in assumptions
or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws. If the
Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release.
Contact Information
Gateway Group, Inc.John Yi and Thomas
ThayerSYLA@gateway-grp.comTel +1 (949) 574-3860
A photo accompanying this announcement is available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad523af2-1a87-4a2b-9922-91761663652f.
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