Mitsubishi Estate Company, Limited

As rising real estate prices expand unrealized gains at listed companies, 27 firms with unrealized gains on rental properties exceeding 200 billion yen have been identified, and five companies trading below 0.7 times adjusted price-to-book ratio that are expected to post record profits this fiscal year were highlighted as investment candidates. The average selling price of newly built condominiums in Tokyo's 23 wards surged to 136.13 million yen in 2025, and official land prices in the three major metropolitan areas as of January 1, 2026, rose 4.6 percent year on year for all uses on average. Mitsubishi Estate held unrealized gains of 5.5574 trillion yen as of the end of March 2026, and its adjusted price-to-book ratio, calculated by adding 70 percent of after-tax unrealized gains assuming a 30 percent tax rate to shareholders' equity, stood at 0.67 times as of August 12. Although real estate stocks face resistance due to lessons learned from past property boom collapses, the number of stocks trading far below one times adjusted price-to-book ratio after accounting for unrealized gains is increasing, and selective investment is judged to be effective.

AP has announced its readiness to hand over the LIFE Sathorn–Narathiwat 22 condominium, a joint venture project with Mitsubishi Estate valued at 1.8 billion baht, following the completion of construction. This low-rise condo in the heart of the CBD comprises two eight-storey residential buildings and a two-storey facilities building, totalling 416 units. It marks the 25th joint venture project between AP and Mitsubishi Estate. The company expects that opening the project for customer visits will boost confidence and stimulate ownership transfers in the second half of the year.

AP Thailand has launched a new condominium project, LIFE Sukhumvit–Rama 4, valued at 4.5 billion baht. It is the 29th joint venture with Mitsubishi Estate, located on Rama 4 Road, 550 metres from BTS Phra Khanong. The 46-storey tower, under the concept EVERYDAY EXTRAORDINARY, features four sky common area floors spanning over 5,800 square metres. Units range from one large bedroom and one bedroom plus to two bedrooms with two bathrooms, with prices starting at 2.99 million baht. AP targets presales of no less than 70 percent of the units launched for sale. This project is part of AP's Rama 4 condominium portfolio, which has a combined value of over 15.6 billion baht, including LIFE Rama 4–Asoke, which is 83 percent sold, and ASPIRE Sukhumvit–Rama 4, which is 72 percent sold.