Sumitomo Forestry enters Southeast Asian market

SGGP November 26, 2023 06:28

Japan's Sumitomo Forestry, which specializes in building environmentally friendly homes, is aggressively expanding its business, shifting its focus from the US market to Southeast Asia, which is experiencing a population boom.

Under a plan to build 7,000 homes in Southeast Asia over five years, the company will start building 150 homes in October 2024 on a 3.2-hectare plot of land near Indonesia’s capital, Jakarta. The project will cost about 1 billion yen ($6.7 million) and is expected to be delivered in 2027.

The 130 square ^meter houses will be sold for around $200,000, two to three times the average price of a house in Indonesia. Sumitomo will apply construction methods that reduce solar radiation, install solar panels... According to Nikkei Asia, not only Sumitomo, other construction companies, such as Nomura Real Estate Development, are also increasing their focus on Southeast Asia.

Source: https://www.sggp.org.vn/sumitomo-forestry-lan-san-thi-truong-dong-nam-a-post715739.html