Industrial & Infrastructure Fund Investment Corporation $(IIF)$ has announced an extension project for the IIF Shonan Health Innovation Park, located in Fujisawa-shi, Kanagawa. The project, led by KJR Management, IIF's asset manager, involves a basic agreement with Mitsubishi Corporation Urban Development, Inc. as the developer. The development will focus on a research and development facility for the life sciences sector, covering an approximate land area of 20,000 m² with a total floor area of 38,000 m². Construction is scheduled to be completed by winter 2028. IIF aims to secure future growth opportunities by utilizing a bridge scheme for acquiring the extension building post-completion. The project responds to increasing demand for business extensions in the drug discovery field, with fixed-term building lease agreements already reaching preliminary stages with major tenant candidates.
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