Xymax Corporation is entering the Korean market with the launch of a subsidiary K-MAX Co., Ltd. and the purchase of shares in One Mount Co., Ltd.
Owner-occupied buildings dominate the Asian real estate market. However, over the past thirty years the separation of ownership and occupancy showed progress in Japan.Based on our experiences in Japan as a real estate management company and our analysis, Xymax is on the opinion that the Korean real estate market is likely to follow a path similar to that of Japan in line with the global trend.
The Korean subsidiary was established in October 2012 for the research and marketing of the Korean real estate market to study the feasibility of starting our real estate management services in the country.
Our activities in Korea found a great opportunity. One Mount Co., Ltd., which is currently developing a large commercial complex Onemount in Goyang-si a commuter town near Seoul, requested Xymax to take a stake in the company, and Xymax accepted the offer.
At the same time, K-MAX Co., Ltd. was awarded its first project contract by One Mount Co., Ltd. to provide property management services for the commercial complex.Through the investment and project in Korea, Xymax Corporation will further study the present level of property management in the country and test whether our management system suits the market.
|Registered head office||649, Wondang-daero, Seo-gu, Incheon, South Korea|
|Date of establishment||October 17, 2012|
|Main businesses||Real estate investment, asset management, property management, building maintenance|
|Capital||KRW 6.5 billion|
|Registered head office||18-2,Juyeop-dong, Ilsanseo-gu, Goyang-si,Gyeonggi-do, South Korea|
|Main businesses||Development and operation of Onemount|
|Location||Goyang-si, South Korea|
|Site area||48,028 sq m|
|Gross floor area||161,603 sq m|
|Completion||February 2013 (schedule)|
|Facilities||Shopping mall, water park, indoor skiing park, sports facilities|
|Headquarters||1-1-1, Akasaka, Minato-ku, Tokyo, Japan|
|Representative||Masafumi Shimada, President and CEO|
|Date of establishment||Founded in March 1990 as a group company of Recruit MBO in January 2000|
|Employees||3,666 (consolidated, as of April 2012)|
|Revenue||JPY 71.6 billion (consolidated, FY ending March 2012)|
|Businesses||Asset and property management of office buildings and commercial facilities, real estate consulting, securitization arrangement, brokerage
Buildings under management (as of April 2012)
Property management: 560 buildings (8,512,327 sq m)
Building maintenance: 1,444 buildings