Hongkong Land eyes entering Japan's property market with billion-dollar deals: Bloomberg

Hongkong Land is in discussions to enter Japan's property market, eyeing mixed-use complexes in prime Tokyo locations worth more than US$1 billion (HK$7.8 billion), Bloomberg reported on Thursday.

The move marks part of its parent Jardine Matheson's strategy of repositioning itself as an investment-focused group, according to the report.

Hongkong Land is seeking to invest in mixed-use properties featuring high-end office, retail, and hospitality spaces in Japan, but it's hard for the company to secure suitable properties and co-investment partners amid the country's challenging real estate investment cycle.

The property development, investment, and management firm has held talks with Blackstone and Hulic, involving two properties in Tokyo's central business district - Tokyo Garden Terrace Kioicho and Otemachi Place, with each valued at billions of US dollars.

It's unclear whether Hongkong Land's interest in the properties has advanced further, the report said, adding that the talks are at an early stage and may not ultimately reach any cooperation or deals.

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