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Daiwa House Industry Co Ltd said Tuesday it will commence the Chicago North Clark Project, a high-rise rental housing project in Chicago, Illinois.
The Chicago North Clark Project is the third joint project with major U.S. real estate company Lincoln Property Co, the other two projects being the Berkeley and the Water's Edge.
Daiwa House Industry plans to purchase and develop 150 billion yen worth of rental real estate over the next three years through 2016 via its U.S. subsidiary Daiwa House Texas, with the goal of achieving annual net sales in the United States of 50 billion yen by fiscal 2020.
Key Data
- High-rise rental housing with 31 stories above ground and a total of 373 units
- Located close to central business district and commercial facilities in Chicago
- Targeting middle- to high-income earners among the Generation Y segment
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elkarlo
They should have started doing this years ago. 50B yen really isn't much. For companies to survive, they need significant international sales