Invested in Black Sand Capital Opportunity Fund II L.P., a closed-end private investment fund that makes opportunistic real estate investments in Hawaii.

We have invested in and participated in a value-up project for the commercial and office complex "Waikiki Galleria Tower," which is being led by Black Sand Capital LLC,. We are acquiring "Waikiki Galleria Tower," which faces Waikiki's main street, Kalākaua Avenue, in the resort area of Honolulu, and are carrying out a value-up project by replacing tenants and changing the use of the property.

We have signed a business partnership agreement with Seven Signatures International Co., Ltd., Black Sand Capital LLC, and Kobayashi Group, LLC. We will be responsible for sales support and marketing of properties in Japan and will operate a gallery in ES-CON JAPAN Ltd. Tokyo office.
Ālia, scheduled for completion in 2026, will have one of the largest site areas (approximately 15,000 ㎡) in the actively developing Kakaako district, and will be one of the tallest condominiums on Oahu, standing over 400 feet tall.

Following Ālia, we are providing sales support and marketing for "Kuilei Place" in Japan. Approximately 60% of the total is available to local residents, and the remaining 40% is available for purchase by overseas residents, including Japanese. It is a large-scale condominium with a total of 1,005 units, consisting of two residential towers, one 43 stories and one 12 stories above ground, on a site of approximately 13,200㎡.

We are participating in the "KNIGHTSBRIDGE SUKHUMVIT THEPHARAK" condominium development project by Origin Property PCL, located in a city about 12km southwest of central Bangkok. Located just a one-minute walk from the MRT Yellow Line station, the condominium will house 474 residential units and one store in an area expected to develop further, with commercial facilities and international schools in the surrounding area.

We are participating in a detached house development project being carried out by Britania Public Company Limited. Based on the Eastern Economic Corridor Plan promoted by the Thai government, we are developing a total of 232 detached houses in a location that will be a key transportation hub to central Bangkok.

We are participating in the "Origin Place Chaengwattana" condominium development project being carried out by Origin Property PCL in Nonthaburi Province adjacent to Bangkok. This area is home to government agencies, private companies, educational institutions, commercial facilities, general hospitals, etc., and has become even more convenient with the opening of the MRT Pink Line. We will develop a large-scale condominium with 700 units on 28 floors, featuring duplex units with ceiling heights of 4.2m and an open feel, as well as being pet-friendly.