Sumitomo Mitsui unit steps up property investments in Asia

TOKYO — Japan’s Sumitomo Mitsui Finance and Leasing will invest an additional 2.5 billion yen ($17.3 million) in a real estate subsidiary in Singapore, looking to expand the portfolio of properties and other assets in the Asia-Pacific region.

With the capital boost, SMFL Mirai Partners (Singapore) will launch a full-scale real estate investment business in July. The parent is dispatching five people to the unit.