Japan's Mizuho Financial Group Inc. and major Chinese real estate developer Greenland Holding Group Co have concluded a business partnership.
Greenland Holding Group one of China’s most prolific overseas real estate investors is committed on adding another country to its portfolio as announced an investment deal with one of Japan’s largest financial corporations this week.
Shanghai-based Greenland said in a statement that it had signed a memorandum of understanding with Mizuho Financial Group to secure the Japanese firm’s assistance in acquiring and developing land in Japan, as well as in helping Greenland to finance deals.
Greenland in 2014 was China’s largest real estate developer by sales has already acquired developments in Australia, Canada, Malaysia, South Korea, the UK and the US in the past three years, meaning it has a presence in more countries than any other Chinese developer.
Government-backed Greenland is reportedly interested in acquiring existing residential or office buildings in Japan, as well as in taking on new urban development projects. According to accounts in the Japanese press, Mizuho is advising the developer on potential targets and a short-list of potential properties has already been drawn up.
Mizhuo made it clear that its role would go beyond investment advisory services to include helping to arrange financing.
