TOKYO — Japan’s Sumitomo Realty & Development will invest 2.5 trillion yen ($16.6 billion) in projects in Tokyo and India, with the aim of boosting pretax profit by half to over 400 billion yen in a decade, the company announced on Friday.
Sumitomo Realty will spend 500 billion yen on a mixed-use development in Mumbai, and 2 trillion yen on large-scale redevelopment projects in the Roppongi and Yaesu districts of Tokyo over 10 years through March 2035.
