DEAR LIFE Acquires Land for New Apartment Project Near Tokyo Metro Station

TOKYO, Jul 29 (Pulse News Wire) – Dear Life CO.,LTD. (3245.T) announced today that it has acquired land for a new apartment development near the Akabane-Ibara Station on the Tokyo Metro Yurakucho Line and Fukutoshin Line.

The site, located within walking distance of major business districts such as Ikebukuro, Kanda, and Shibuya, offers excellent accessibility and convenience. The property spans approximately 414.87 tsubo (about 1,382 square meters). It includes a vibrant local shopping street and easy access to various amenities like convenience stores and drugstores. The area also features numerous parks, enhancing the quality of life for residents. Dear Life plans to develop a condominium project targeting singles and young couples, known as the Akabane III Project.

The building will consist of 66 units across five floors, constructed with reinforced concrete. Each unit will cover around 820.05 tsubo (approximately 2,720 square meters). Details of the acquisition, including the seller and purchase price, remain confidential due to a non-disclosure agreement. The company expects the project to contribute to sales revenue in fiscal 2029 but does not anticipate significant impact on the current fiscal year's performance. Any future developments that could affect earnings will be promptly disclosed.