Singapore investor makes headlines after buying forestry in Gunma

Cabbage fields in Tsumagoi Village.

An investor from Singapore has been the subject of an article in the Yomiuri newspaper after purchasing 44 hectares of forestry in Gunma Prefecture. The land, which is near the source of the Agatsuma River in Tsumagoi Village, was purchased by the investor in September 2011.

An employee from the Tokyo-based real estate agency that brokered the sale said the purchase formed part of the buyer’s overall investment plan, but there was no indication that the buyer was after a water source.

The real estate agent’s relatives and the Singapore investor pooled their funds and purchased the land together [Note: this is strange]. The title was recorded in the Singapore investor’s name as he/she provided the majority of the funds. However, the agent suggested that it would be better if they record the title under his own name [Note: even more strange].

The Singapore investor does not have immediate plans for the land, but said the site had potential to become a campsite or vacation home area in the future.

The total amount of privately-owned forestry in Gunma Prefecture is 228,000 hectares.

Source: The Yomiuri Shimbun, March 9, 2012.

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