The Nomura Real Estate Group comprises Nomura Real Estate Development and other Group companies, and operates in the Residential Development Business, Urban Development Business, Investment Management Business, Property Brokerage & CRE Business, Property & Facility Management Business, and Other Business.
The Residential Development Business Segment is engaged in development and sales of condominiums and detached housing. By taking advantage of our integrated development and sales operation, we are developing the "PROUD" brand primarily in the Tokyo Metropolitan area, offering condominiums and detached housing. In addition, we launched a new brand named "OHANA" in August, 2011 for operations in the suburbs of the Tokyo Metropolitan area. We are also developing elderly housing with services under the "OUKAS" brand.
The Urban Development Business Segment owns and leases office buildings such as Shinjuku Nomura Building and Hamamatsucho Building (Toshiba Building), and commercial facilities such as Lazona Kawasaki Plaza and bono Sagamiono Shopping Center. This business segment is also engaged in the development of profit-generating properties including "PMO" office buildings, commercial facilities, and logistics facilities for investors. We are also developing and managing hotels and fitness clubs.
The Investment Management Business Segment is engaged in investment management under the consignment by investment corporations and private funds. In October, 2011, the Nomura Real Estate Group's three investment management companies merged to form one of the largest single real estate investment management company in Japan with over ¥1 trillion in assets under management. And we provides access to UK real estate market to various investors through Lothbury's funds.
In property brokerage services for individual customers, the Property Brokerage and CRE Business Segment is satisfying its customers' needs for relocation by having enhanced its website and the network of branch offices in the Tokyo Metropolitan area. For corporate property brokerage, this business segment has taken advantage of direct networks with more than 5,000 corporate clients which have so far been developed to find and conclude deals. In addition, based on Singapore, we offer real estate trading, rental brokerage and other services for Japanese companies.
The Property & Facility Management Business Segment is engaged in property management of housing and office buildings by utilizing the knowhow elaborated through long years of operation and strives to increase the asset value and profit of buildings.