12 Apr 2007
GIC Real Estate Pte Ltd (GIC RE), through its affiliate, has acquired Hawks Town in Fukuoka City, Japan from Colony Capital.
Fukuoka City is in Fukuoka Prefecture which has a population of over 5 million people. It is a major city in Kyushu, Japan’s third largest island, and is one of Japan’s five largest cities, after Tokyo, Osaka, Yokohama, Nagoya and Sapporo.
Hawks Town, spanning an area of 169,157 square metres, consists of Fukuoka Yahoo! Japan Dome, JAL Resort Sea Hawk Hotel Fukuoka and Hawks Town Mall, and is managed by Hawks Town Corporation.
Fukuoka Yahoo! Japan Dome is a multi-purpose indoor stadium with a 35,773- seating capacity. It is the home of the Fukuoka Softbank Hawks, one of Japan’s top professional baseball teams. JAL Resort Sea Hawk Hotel Fukuoka is one of the largest hotels in Japan with 1,052 rooms, and is managed by JAL Hotels Co., Ltd..
Hawks Town Mall is an 81,445-square metre shopping centre consisting of 107 stores. In addition to shopping and dining, the Mall offers a wide array of facilities for entertainment and relaxation, including a natural hot spring, a large concert hall, movie theatres and an amusement centre.
Hawks Town Corporation, led by its Representative Director, Mr Toshio Masui of Colony Capital, will continue to manage the development.
Announcing the transaction, Dr Seek Ngee Huat, President of GIC RE said, We are very pleased to acquire Hawks Town which has established itself as the premier regional centre for entertainment and shopping in Kyushu. This acquisition is in line with our strategy to build a global portfolio of diverse assets with long-term characteristics. We have confidence in Hawks Town Corporation that it will continue to raise the profile of Hawks Town amongst the residents of Fukuoka City, as well as regional and international visitors.