Notice of completion of acquisition of equity interest in “Shangri-La Hotel Kyoto Nijo Castle Project (Tentative Name)”

On 29 March 2021, Samty Group announced a joint venture with Shangri-La Group and also the incorporation of a special purpose acquisition sub-subsidiary company. Samty Asia Investments Pte. Ltd. (hereinafter referred to as “SAI”), together with world-renowned hotel chain Shangri-La Asia Ltd (hereinafter referred to as “Shangri-La Group”, will be joint venture partners in the development of “Shangri-La Kyoto Nijo Castle Project (Tentative)”.

As of 30 November 2021, SAI acquired 49% of the 80% equity interest in the special purpose company and has acquired the remaining 31% equity on 18 April 2022. We are pleased to announce that the transfer of shares has completed and the special purpose company has become a consolidated subsidiary.

Outline of Project

Shangri-La Hotels operated by Shangri-La Group spans over Asia Pacific, the Middle East, the United States and Europe boasts a luxurious 5-star experience in major cities. Following the opening of Shangri-La Tokyo in 2009, this project will be the second in Japan and the first within the Kansai region’s central district.

The proposed hotel will be located on the north side of Nijo Castle, which was registered as a UNESCO World Heritage Site in 1994 and is home to the Ninomaru Palace (National Treasure) and Karamon Gate (Important Cultural Property). This low-rise hotel is set to blend in with the calm and serene cityscape of Kyoto, with easy access to the Kyoto Imperial Palace and other tourist spots and central Kyoto.

Besides being adjacent to a UNESCO World Heritage Site, there is also rich history behind the land as it was once the location of Kyoto Shoshidai and sericulture farming. With the cooperation of the local community, we will provide a special lodging experience that will arouse the intellectual curiosity of guests coming from all over the world and help them feel a sense of unity with the region. We aim to provide high-quality accommodations that will eventually help solve regional issues and revitalize local industries.

Location536-71 Waraya-cho, Takeyacho-dori Omiya Higashi-iru, Kamigyo-ku, Kyoto City
StructureReinforced concrete, 4 floors above ground, 1 basement floor
Site Area5,838.12 ㎡
Total Floor Area11,919.90 ㎡
Number of Guest Rooms77 rooms (minimum area: 50㎡, maximum area: 202㎡ ) (Planned)
FacilitiesRestaurant, bar, fitness room, spa, etc.
Opening DateMarch 2025 (scheduled)
Access10 minutes by cab from JR “Kyoto” Station
9-minute walk from Nijojo-mae Station on the Kyoto Municipal Subway Tozai Line
The above perspective is still under the stage of consideration and may be subjected to changes in the future
The above perspective is still under the stage of consideration and may be subjected to changes in the future
The above perspective is still under the stage of consideration and may be subjected to changes in the future

Future Outlook

The effect of this change of consolidated subsidiary on the consolidated financial results for the fiscal year ending November 30, 2022 is currently under careful examination. If any matter requiring disclosure arises, it will be announced promptly.

Additionally, regarding the development of this project, the declaration of state of emergency and priority measures to prevent the spread of the new coronavirus infection have been lifted. As such, various administrative procedures for real estate development have begun to progress smoothly.

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