SYLA Launches First Joint Project with CUMICA in OmiyaCondominium Development Leveraging Synergies between the Two Companies

SYLA Co., Ltd. (Head office: Shibuya-ku, Tokyo; CEO: Yoshiyuki Yuto), a wholly owned subsidiary of SYLA Technologies Co., Ltd. (Head office: Shibuya-ku, Tokyo; CEO: Hiroyuki Sugimoto; NASDAQ: “SYT”), and CUMICA CORPORATION, a general real estate company engaged in the development, construction, and sale of family condominiums primarily in the Tokyo metropolitan area (Head office: Soka City, Saitama; TSE: 8887; "CUMICA"), will develop a designer condominium in Omiya City, Saitama Prefecture (the “Joint Project”) as their first joint project.

First Joint Project after Capital and Business Alliance
SYLA Technologies and CUMICA signed a capital and business alliance agreement on January 23, 2024. Under this partnership, SYLA, a subsidiary of SYLA Technologies, and CUMICA began developing a designer condominium in Omiya, Saitama City, Saitama Prefecture on June 14, 2024, as their first joint project. This collaboration leverages CUMICA's extensive experience in condominium development in Saitama Prefecture and technical capabilities and SYLA's planning and design expertise in condominium development.

Construction will be managed by CUMICA, while SYLA will contribute to the design and planning aspects, ensuring the creation of high-quality housing that adds new value to the community. The development site, located at 3-chome, Nakamachi, Omiya-ku, Saitama City, is an 8-minute walk from JR Omiya Station, providing convenient access to central Tokyo and the Shinkansen bullet train. Situated in a quiet residential area near the city hall, the location offers high living convenience.

Through this joint project, SYLA and CUMICA aim to enhance corporate value and significantly contribute to solving social issues. The companies will continue to create additional value and undertake projects that contribute to the local community through the ongoing collaboration.

CUMICA CORPORATION is a company dedicated to manufacturing. Marking its 31st year in the condominium market, CUMICA offers development, construction, and after-sales support, leveraging its extensive expertise in condominium development. CUMICA takes pride in its accumulated construction technology and high-quality standards. Prioritizing quality above all else, CUMICA strives to deliver products that ensure safety, satisfaction, and trust. One of CUMICA's competitive advantages lies in its self-formed cooperation network, which allows for effective cost control and stringent quality management, enabling the company to provide high-quality services at low costs.

About SYLA
SYLA Co., Ltd. is engaged in the real estate sales business for individuals and real estate companies. The Company develops, constructs, sells, and manages new investment condominiums centering on its own brand, SYFORME Series, targeting the 23 wards of Tokyo and the Yokohama and Kawasaki areas. SYLA Co., Ltd. also provides total solutions for investment condominiums, from the sale of used investment condominiums to the renovation of living spaces. The Company’s one-stop service, including new construction, used condominiums, and condominium management, enables the selection of locations and the design of buildings that meet ever-changing needs. This approach allows us to provide compact condominiums with true value that generate stable, long-term earnings. Guided by the philosophy of creating properties that reflect its aspirations, SYLA Co., Ltd. is steadfast in its commitment to maintaining its position as the premier partner in asset formation through housing.

SYLA Technologies Company Contact
Takeshi Fuchiwaki
Director, Chief Growth Officer
[email protected]