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Not bad..92 cents already..only 8 cents down from IPO..given its earnings, yield, potential - i think this one will reach $1 v.soon
We are talking about the second largest economy in the world whose currency and real estate is grossly undervalued and have been steadily moving up the past 2 years..this year has seen alot of foreign investments moving in solely for property as its probably the only country today u can get good yields..Capital appreciation on property and currency appreciation...
got 4lots - duno how - cos they say that above 20K bidding then can get.
but is the Japan real estate coming up?
Both Goldman Sachs and Morgan Stanley began investing in Japan's real estate market a decade ago when prices were still distressed and have continued to buy high-profile properties, despite eyebrow-raising prices.
Goldman Sachs, which has already invested Y1,500bn ($13.67bn) in Japan, recently spent Y156bn to acquire Simplex, a real estate developer, in partnership with Aetos, an independent investment management firm. Goldman earlier acquired the Tiffany building in Ginza, Tokyo's upscale shopping district, for Y38bn, a record price by area for a Japanese property.
Morgan Stanley, which has invested Y2,000bn in Japan, this spring acquired 13 hotels from All Nippon Airways for Y281.3bn in Japan's largest-ever property deal.
Last week, LaSalle Investment Management, a unit of Jones Lang LaSalle, said it would take control of eAsset, a Japanese real estate investment trust (J-Reit).
In addition to US funds, Australian retirement funds and Singapore's Government Investment Corp have also been conspicuous investors.
Pierre Rolin, chief executive of Strategic Real Estate Advisors, expects to see growing investment in Japanese real estate from wealthy European and Middle Eastern investors. "I don't think we have seen the tip of the iceberg of Gulf investment in Japan," Mr Rolin says.
Japan property is going to be hot again..this riet is considerbly cheap..outside of tokyo means that your yield is better..see todays article in US Financial Times..to read full..(
http://www.msnbc.msn.com/id/21756847/)
Japan's solid foundations for investors
updated 5:40 p.m. PT, Mon., Nov. 12, 2007
This summer, a ski and golf resort on the northern island of Hokkaido quietly changed hands in a rare Japanese property deal between two foreign parties.
Hanazono Ski Resort, a sprawling development in the booming Niseko community, was bought by Richard Li, the Hong Kong tycoon, from Harmony Resorts, an Australian developer that had acquired the property less than three years ago.
Foreign investors such as Mr Li have continued to invest in Japanese real estate in spite of signs that prices in some areas have risen rapidly. The overall value of real estate transactions in Japan rose 16 per cent in the first half of this year to more than $30bn and comprised 55 per cent of all transactions in the Asia-Pacific region, according to Jones Lang LaSalle, the property services and investment management group.
Saizen's main portfolio is residential units outside Tokyo, which is not quite a gd fetch
Can anyone enlighten me what's TK agreement, operator, and blah blah written in prospectus? I was studying how they distribute their income to the investor. I came across this TK operator, some practice relate to Japanese real estate.
I can't recall any REIT/trust falling this much on IPO. Guess this is even worse off than BBSF.
The stock would prob fall further this week until institutional investors and BBs are forced to defend it.
Doesn't look promising at all ...
dropping further for next week...
it was oversubscribed and has good institutional investors behind it..
i think it was just a causality of wrong timing IPOing..
do you guys see this as recovering or dropping further?
First day launched, lost 14%, is this unit trust worth to keep or invest?
