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| ING Real Estate purchases shopping center in Yokohama ING Real Estate has announced the purchase of North Port Mall in Yokohama City. The property will be added to ING Real Estate's Asia Retail Fund. The nine-story, newly-built Yokohama shopping center has a GLA of 56,321 m². The center was completed in March and opened April 2007. The city of Yokohama is located 30 kilometers south of Tokyo. It has 3.6 million inhabitants and is the second most populated urban area in Japan after the capital. The mall is located in Kohoku New Town, a well-planned and popular living area which has excellent public transport connections to Tokyo's CBD. ING Real Estate's research confirmed that there is strong demand for a community based shopping mall in the area. There are a number of residential developments surrounding the mall and the population growth in Tsuzuki-ward of Yokohama-City, is the highest in the Kanagawa Prefecture (115.2%, 2006/2001), and the second highest of all Japanese cities. write your comments about the article :: © 2007 Construction News :: home page |