Seibu Group Emphasizes Real Estate Business Readers may be aware that the Seibu Group is involved in the hotel, golf course, and ski resort businesses in addition to the railroad business. In its new medium-term management plan starting from fiscal 2024, the Seibu Group has positioned the real estate business as a “key driver of growth. One of the characteristics of the Seibu Group is that it operates businesses not only along its own railroad lines and in their vicinity, but also in prominent resort areas throughout Japan. These began in Karuizawa (since 1918) and Hakone (since 1919). The more major ones are Oiso, Naeba, and Furano, which “have created Japan’s resort culture,” according to the company. In Karuizawa, in particular, the company is the largest asset holder in the private sector. Currently, in central Tokyo, Takanawa and Shinagawa, Shibakoen, and Shinjuku. The company also has various other assets in Furano, Towada, Karuizawa, Shiga Kogen, Tsumagoi, Nikko, Izu, Hakone, Shonan, and other locations from Hokkaido to Kyushu. The key driver of the real estate business is how to utilize and add value to the potential of these assets.
Resort Development in Harmony with Local Communities Rather Than Building Bases Mr. Goto commented, “In the 1980s, there were many resort developments that built only structures. Today, however, there is a need for more harmony with local communities and the natural environment. Harmony between urban development and resort development is necessary. We also want to reflect the knowledge and insights of users and local residents,” he says. If we think about it simply, it is natural to talk about “real estate development concepts that are not bound by conventional thinking” and “creating a world-class resort that is uniquely Japanese and communicates this to the world. However, this is only from the perspective of the developer. When considering coexistence and harmony with the local community, it is necessary to take the viewpoint of “development that gives local residents more pride and satisfaction,” and of course, it should also contribute to the local economy and employment. People do not just flock to the area during certain times of the year, but people visit on a continuous basis throughout the year. We would like to see such a mechanism. In addition, we need to add value to the people who visit the resort in the form of “providing excitement to customers” and so on. In developing the resort, the Seibu Group wanted to bring in outside perspectives in addition to internal resources. This is where the two executive advisors came in.
Profile of the two advisors Mr. Shigeru Ban was born in Tokyo in 1957. In addition to working as an architect, he is also involved in activities such as contributing to disaster relief around the world through the Voluntary Architects’ Network (VAN), an NGO he founded in 1995, and volunteering in disaster-stricken areas. Mr. Ban commented on the relationship between resort development and local communities, “When Japan is hit by a disaster, the Seibu Group’s facilities must become a shelter where people can stay. We would like to help make the facility a place that can provide safety and security to the local community,” he said. If there is an accommodation facility, it would be a place to sleep and eat, but that is not all. If there is a hot spring, it could also provide things like bathing assistance. The reason behind this suggestion is that Mr. Saka has been involved in activities such as providing partitions to protect privacy at evacuation centers in the event of a disaster. At first, it was difficult to get people to understand this idea, but now, he says, they are able to respond quickly by signing disaster prevention agreements with local governments in the normal course of events. Seibu Group explains that this “pursuit of the role that architecture can play in addressing social issues is in line with the Group’s philosophy. Rather than simply constructing a single building and calling it a day, the group is “solving clients’ issues through architecture,” “being close to the community and its people,” and “having knowledge and ideas from the broad perspective of urban development. Ken Chang, on the other hand, was born in Tokyo in 1967 and lived in Japan until the age of six. After that, he spent his high school years in Singapore and his college years in the United States. After that, he started working in Japan and worked at a securities company before moving to the Government of Singapore Investment Corporation (GIC), where he last served as the representative of GIC Japan. Seibu Group is “convinced that Mr. Chan is an indispensable partner in the development of our group’s real estate strategy,” given his long experience in the real estate investment and real estate business field and his global network, the group explained. Mr. Chan has been involved in a variety of real estate investments, including office, retail, residential, logistics, and baseball stadiums, as well as land development. Based on this background, he is expected to offer suggestions on how to create and add value to high-value assets.
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