SYLA Technologies Announces the Beginning of the Sale of SYFORME NAKANO Condominium Units
TOKYO, Japan, Oct. 26, 2023 (GLOBE NEWSWIRE) — SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or “the Company”), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, announced its subsidiary, SYLA Co., Ltd. (“SYLA Co.”) has begun selling the SYFORME NAKANO condominium units (“Property”) for investors as of Wednesday, October 11, 2023.
SYFORME NAKANO is centrally located in the evolving Nakano area in convenient proximity to public transport stations that is one stop away from the heart of Shinjuku city center. The nine-story, 25 unit condominium was collaboratively developed by SYLA Co.’s in-house development, construction, sales, and management teams synergistically working together, resulting in the Company’s first sale of its own fully constructed building. In the face of economic challenges, particularly the surge in material prices, this endeavor takes on a revolutionary approach within the real estate sector. By leveraging internal expertise in real estate, construction, and advanced technology, SYLA Co. aims to forge a new path in real estate development that prioritizes enhancing business productivity while delivering properties of the highest added-value, safety, and security in primed Japanese regions; SYLA Co. also expects this renewed approach to result in cost savings and higher productivity of the SYFORME Series.
Property will be completed by the end of November 2023, with move-in dates set in early December 2023. For more information about the Property, please visit the Property website here.
About SYLA Technologies Co., Ltd.
Headquartered in Tokyo, Japan, our company consists of SYLA Technologies Co., Ltd. and its consolidated subsidiaries (SYLA Co., Ltd., SYLA Solar Co., Ltd., SYLA Brain Co., Ltd., and SYLA Biotech Co., Ltd.). The Company owns and operates the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, which targets individuals, corporate and institutional investors, as well as high net worth individuals. Their mission is to democratize real estate investment around the world through technology and asset management through the Rimawari-kun platform. They are engaged in the overall investment condominium business, including planning, development, construction, sales, rental management, building management, repair work, and the sale of properties. Additional information about the Company’s products and services is available at https://syla-tech.jp/en.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the expected gross proceeds and the closing of the offering. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F, filed with the SEC on April 18, 2023. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
SYLA Technologies Investor Relations Contact :
Gateway Group, Inc.
John Yi and Steven Shinmachi
SYLA Technologies Company Contact :
Head of SYLA USA
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/501e8df3-0794-4220-a8a5-6917603b80ef
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