Sumitomo Forestry Co. Establishes Joint Venture for Full-Scale Entry Into UK Real Estate Market
Tokyo-based Sumitomo Forestry Co., Ltd. announced on February 1st that it has jointly established three companies—Bywater SFC Holdings, Bywater SFC Management, and Bywater SFC Investments (hereinafter collectively Bywater SFC)—with British real estate developer Bywater properties.
With a shared business vision to realize decarbonization, Sumitomo Forestry and Bywater are jointly developing a 6-story mass timber office building in London. The establishment of Bywater SFC will serve to further strengthen the relationship of these two companies. It also marks Sumitomo Forestry’s full-scale entry into the UK real estate development market to promote environmentally conscious properties and mass timber construction in Europe.
Bywater specializes in the development, planning, and management of real estate properties, primarily offices. It has developed mass timber and environmentally conscious properties in major UK cities, such as London, Manchester, Glasgow, and Belfast.
Bywater SFC will develop real estate properties under the Bywater brand name. Its quick expansion into the European market is planned to include developing mass timber multi-family dwellings, refurbishing buildings, and several environmentally conscious projects using existing construction methods.
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