SYLA Technologies Launches a Second Condominium Brand SYFORME NEXT
Secures Property Management and Building Maintenance Services Contract for Projects Owned by a Private Fund Managed by BlackRock’s Real Estate Business
TOKYO, Oct. 24, 2024 (GLOBE NEWSWIRE) — SYLA Technologies Co., Ltd. (Nasdaq: SYT) (“SYLA” or “the Company”), operator of the largest membership real estate crowdfunding platform in Japan, Rimawari-kun, announced that its subsidiary, SYLA Co., Ltd (Head office: Shibuya-ku, Tokyo; CEO: Yoshiyuki Yuto) (“SYLA Co.”), has launched its new condominium brand, SYFORME NEXT.
In addition, SYLA Co. has been contracted to provide property management and building maintenance services (“the Collaboration”) for multiple SYFORME and SYFORME NEXT properties owned by a private fund managed by BlackRock’s Real Estate business (“BlackRock”).
Launch of New Brand and the Collaboration
SYLA Co. has launched a new brand SYFORME NEXT as the second line of its SYFORME-branded condominiums. In addition, SYLA Co. has been contracted to provide property management and building maintenance services for multiple SYFORME and SYFORME NEXT properties owned by a private fund managed by BlackRock’s Real Estate business, including SYFORME NEXT MUKOJIMA, with plans for further expansion in the future.
In December 2023, SYLA Co. entered into a collaboration agreement with BlackRock’s Real Estate business, and later sold four SYFORME buildings to BlackRock in January 2024.
Through the Collaboration, SYLA Co. will continue to unlock opportunities for BlackRock’s Real Estate business to invest in real estate projects in Japan and accelerate strategic real estate development and investments in line with market needs.
Property Overview
SYFORME NEXT MUKOJIMA
Location: 5 Mukojima, Sumida-ku, Tokyo, Japan
About the SYFORME Series
Guided by the philosophy of crating condominiums that reflect our aspirations, SYLA’s own condominium brand SYFORME series is designed in extensive collaboration with design, construction, and surveying firms, along with our esteemed partners. Our stringent commitment involves selecting materials through meticulous examination, tactile assessment, and subsequent approval. We are dedicated to creating designs that embody elegant simplicity while maintaining enduring, timeless appeal, transcending the next two decades.
Explore our property gallery at our website: https://syla.jp/business/gallery
About SYLA Technologies Co., Ltd.
Headquartered in Tokyo, Japan, SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or “the Company”) owns and operates the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, which targets individuals, corporate and institutional investors, as well as high net worth individuals. SYLA’s mission is to democratize real estate investment around the world through technology and asset management through the Rimawari-kun platform. SYLA is engaged in the overall investment condominium business, including planning, development, construction, sales, rental management, building management, repair work, and the sale of properties. Additional information about the Company’s products and services is available at https://syla-tech.jp/en.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the expected gross proceeds and the closing of the offering. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F, filed with the SEC on May 15, 2024. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
SYLA Technologies Company Contact
Takeshi Fuchiwaki
Director, Chief Growth Officer
irpr@syla.jp
