The powerhouse of the Group's overseas operations is its condominium business in China, which has recorded stable earnings for many years.
In the case of properties which are scheduled to be newly subdivided, we leverage the expertise we have built up over many years operating in this market to carefully select the best properties. We aim to popularize Japanese levels of quality, not only in the construction of buildings but also in the attendant services.
The quality of the Group's condominiums is steadily becoming more well-known in the Chinese market, and we aim to make active use of this brand recognition over the near term, particularly in Shanghai and the adjacent Yangtze Delta region.
We provide a one-stop service from selection of the best sites through development (marketing, design, management of the construction process) to after-sales service. This is what our brand name is known for. We offer all our customers, for all properties, the Japanese level of quality that they seek.
From 2017 to the end of 2022, the Group handled the development of a total of 4,700 condominium dwelling units*. The steady trend of our business performance in this part of China, has been made possible by stable economic growth and the high demand for housing.
*Includes condominiums under development
Our Chinese condominium business has a number of projects on its books that are scheduled to be handed over to the owners in 2023 and after, notably the Grace Residence. Over the near future, we will continue to meet society's need for high-quality residential environments, to which end we will maintain a steady pace of new project development.