Dear Life (TYO:3245) said it acquired a 360.94-square-meter land parcel in Chuo Ward to develop a new office building in Tokyo, Japan, according to a Tuesday filing on the Tokyo Stock Exchange.
The Japan-based real estate company said the acquisition is funded through a combination of internal capital and borrowings, and it plans to construct an 11-floor office building at the Higashi-Nihombashi site.
Dear Life expects the project to contribute to sales in the fiscal year ending Sept. 30, 2029.