Real estate development business in the United States

Residential land development stretching over 2,400 acres

In Houston, Texas, the fourth largest city in the United States, a large-scale residential land development is under way.
The size of this residential land, which is to be divided into 2,880 lots, is about 2,400 acres roughly the same size as Tokyo's Chuo-ku. Under the development, the land will become a complete town with elementary and junior high schools, commercial facilities, and even a large man-made lake. Development is expected to take around 10 years.

We are capable of undertaking such a large-scale development due to the strong trust and the U.S.-wide networks we have established through the continuous business experience in the U.S. real estate market.

It was in 1982 that Sumitomo Corporation made full-scale inroads into the U.S. real estate business. Our first move was to acquire an existing office building in New York City to be used as the headquarters of Sumitomo Corporation of America. Later, we expanded into residential land development, and ever since our U.S. real estate business has stood on two pillars—office building management and residential land development.
Our turning point was in the 1990s when we launched a residential land development business in Atlanta located in the northwestern part of Georgia.

Some residential land developments take the form of what is known as the Master-Planned Community, which is a large community built in a manner that enhances the property value of the entire town by encompassing everything from a golf course to man-made lakes and other amenities. Our first residential land project in the United States, which was located in Atlanta, was a Master-Planned Community, in which a golf course and other amenities were constructed along with 2,200 pieces lots for housing, resulting in a town with extremely high value. Judging from the fact that the houses built by house-building firms after the pieces of land had been sold were in a medium to high price range, the community was successfully received as a quality residential town.
Building on this success, we are currently undertaking residential land development in Houston.

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