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  • Writer's pictureAdam German

Ken Chan appointed as executive advisor on Karuizawa development by Seibu HD and Nomura Real Estate

On April 26th, Seibu Holdings (hereinafter Seibu HD) hosted a press conference at the Grand Prince Hotel Takanawa in Tokyo to announce the appointment of architect Shigeru Ban as an executive advisor, aimed at bolstering its real estate operations.  


Also present was Ken Chan, CEO of the real estate investment firm Patience Capital Group based in Singapore.  

 

Patience Realty is a proud affiliate of the Patience Capital Group. 


Ken Chan, Shigeru Ban and Goto Takashi Seibu Karuizawa Development Press Release Photo

Courtesy of R.E. Port News. 


They unveiled plans to collaborate on the ambitious Karuizawa Sengataki District Project in the Kitasaku-Gun District of Nagano Prefecture, alongside Seibu Realty Solutions and Nomura Real Estate. 

  

Born in Tokyo in 1957, Mr. Ban is renowned for his pioneering architectural designs utilizing paper tubes and wood. He was awarded the prestigious Pritzker Architecture Prize in 2014, often likened to the Nobel Prize in architecture.  

 

Mr. Chan, born in Tokyo in 1967, previously served as the representative of the Singapore government-owned investment fund GIC Japan, where he spearheaded the development of a diverse portfolio of real estate assets encompassing residential, commercial, logistics, and hospitality properties. 

  

Their appointments are effective from April 16th. 

  

The project aims to transform a 226,853.97 square meter site owned by the Seibu Group in the Sengataki district into a resort destination by 2029.  


Ken Chan Karuizawa Development

Courtesy of Impress Watch, edited by Patience Realty. 


Formerly bustling with activities such as ice skating, hotels, and hot springs, the area now only boasts operational hot spring facilities. Leveraging the expertise of Mr. Ban and Mr. Chan, the project seeks to rejuvenate the area. 

  

The group plans to prioritize development in six areas including Karuizawa, Hakone, Furano, Oiso, Kawana, and Nikko, with Mr. Ban and Mr. Chan involved in all projects.  

 

In Hakone, they aim to open a members-only hotel on the shores of Lake Ashi by 2026. 

  

Goto Takashi, Chairman of Seibu HD and Chairman & CEO, stated, "Traditionally, real estate development focused solely on physical structures. Today, there is a growing emphasis on sustainable development that harmonizes with the environment and local communities. We aspire to significantly contribute to Japan's status as a leading tourist destination by unlocking the full potential of each area through thoughtful real estate development. Rather than relying solely on our internal resources to maximize the value of our real estate holdings, we seek to enhance quality by tapping into the extensive expertise of external professionals." 

 

Sources: 

R.E. Port News (Japanese only) 

 

Impress Watch (Japanese only) 



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