Japan top developer discovers defects in its project
[TOKYO] Mitsui Fudosan, Japan's largest property developer by sales, reported defects in a residential complex being built by Shimizu Corp and will start repairing those parts this month, Kawasaki City said in a statement.
Shimizu last month found cracks in the concrete of some columns on the fourth floor of the building that will be 47 storeys when completed next year in Kawasaki City, the city's urban development department said in the statement on its website on Monday.
Mitsui Fudosan is the latest company to report defects at a residential building after Mitsubishi Estate said that one of its complexes in central Tokyo, built by Kajima Corp, will be scrapped and rebuilt after construction flaws were found.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co