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GRESB Real Estate Assessment

Star Asia Investment Corporation (“SAR”) in evaluation the GRESB Real Estate Assessment in 2023, and acquired “3 Stars” rating (highest rank: 5 Stars).

Furthermore, SAR obtained the “Green Star” for the third consecutive year which indicates that SAR is a participant which excels in both the “Management Component” which assesses the policy and organization structure for promoting ESG as well as the “Performance Component” which assesses environmental performance and tenant engagement of properties owned.

GRESB is an annual benchmarking assessment to measure ESG (Environmental, Social and Governance) integration of real estate companies and funds, as well as the name of organization which runs the assessment. It was founded in 2009 by a group of major European pension funds who played leading roles in launching Principles for Responsible Investment (PRI). Currently, about 150 Investor Members use GRESB data for their investment decision-making and engagement with investees, and several institutions from Japan including Government Pension Investment Fund (GPIF) utilize GRESB Assessment results. In 2023, 2,084 listed or private real estate companies/funds participated in GRESB Real Estate Assessment.
Please refer to the link below to see details concerning 2023 GRESB data.

Acquisition rate of external certifications and Certification Goals

Acquisition rate of external certifications and Certification Goals

Acquisition Rates(As of January 31, 2024)(note 2) Goals for2026
Number of Properties Total Floor Area(㎡) ratio(%) (note 2) ratio(%)
DBJ Green Building Certification 6 91,860.16 15.7
Building-Housing Energy-Efficiency Labeling System (BELS) 8 (note 1) 28,552.39 4.9
Certification for CASBEE for Real Estate 5 136,361.30 23.3
Total 19 256,773.85 43.9 50.0
(note1)  In case when a property holds multiple certifications, number and floor area of one property is included.
(note2)  Ratio of each floor area to the gross floor area of SAR portfolio (585,163.76㎡).

DBJ Green Building Certification

DBJ Green Building Certification System (the “System”) is certification system established in April 2011 by the Development Bank of Japan (DBJ) in order to support environmentally and socially conscious management of real estate (Green Building). In addition to the environmental performance of subject properties, DBJ assesses and certifies real estate demanded socially and economically based on comprehensive assessment including aspects responding to various stakeholders such as disaster prevention measures and attention towards the community.

Property name Asset type Location Total floor area (㎡) Certification rating Certified date (reassessment date)
1 Baraki Logistics Logistics Ichikawa-shi, Chiba 12,471.50 ★★★ Jul. 31, 2021(reassessment date)
2 Honmachibashi Tower office Osaka-shi, Osaka 15,407.83 ★★ Jul. 31, 2021(reassessment date)
3 Urban Park Tokiwadai Koen Residence Yokohama-shi, Kanagawa 15,708.08 ★★ May 14, 2021
4 Urban Park Mitsuike Koen Residence Yokohama-shi, Kanagawa 10,918.37 ★★ May 14, 2021
5 Iwatsuki Logistics Logistics Saitama-shi, Saitama 29,729.72 ★★ Jul. 31, 2021(reassessment date)
6 Urban Park Shinjuku Office Shinjuku-ku, Tokyo 7,624.66 Jun. 21, 2021
Total 91,860.16
(note)  As of January 4, 2024

Building-Housing Energy-Efficiency Labeling System (BELS)

Under the Act on the Improvement of Energy Consumption Performance of Buildings (“Building Energy Efficiency Act”), real estate business operators are required to make efforts to display the energy-saving performance of buildings. BELS is a system in which third-party institutions evaluate the energy-saving performance of buildings based on the evaluation standards set by the Ministry of Land, Infrastructure, Transport and Tourism, and the certification rating is given on a five-star scale (★ to ★★★★★).
For details of BELS, please refer to the following website.
Website on BELS:

Property name Asset type Location Total floor area(㎡) Certification rating Certified date
1 Urban Center Hakata Office Fukuoka-shi, Fukuoka 3,566.56 ★★★ Dec. 17, 2021
2 Urban Park Miyamaedaira(note 2) Residence Kawasaki-shi, Kanagawa 2,039.17 ★★ Dec. 24, 2021
★★ Dec. 24, 2021
3 KOKO HOTEL Hiroshima Ekimae Hotel Hiroshima-shi, Hiroshima 5,370.75 ★★★★ Oct. 25, 2023
4 KOKO HOTEL Kagoshima Tenmonkan Hotel Kagoshima-shi, Kagoshima 4,622.48 ★★★★ Oct. 25, 2023
5 Fino Hotel Sapporo Odori Hotel Sapporo-shi, Hokkaido 3,854.01 ★★★★★ Oct. 25, 2023
6 Best Western Plus Fukuoka Tenjin-minami Hotel Fukuoka-shi, Fukuoka 7,322.03 ★★★★★ Oct. 25, 2023
7 Funabashi Hi-Tech Park Factory Ⅰ(A) Logistics facility Funabashi-shi, Chiba 576.00 ★★★★★ Dec. 20, 2023
8 Urban Park Mitaka Residence Mitaka-shi, Tokyo 1,201.39 ★★★ Jan. 31, 2024
Total 28,552.39
(note 1)  As of January 31, 2024
(note 2)  This property consists of two buildings, each with its own certification.


CASBEE (Comprehensive Assessment System for Built Environment Efficiency) is a system that comprehensively assesses the quality of a buildings, including evaluating features such as interior comfort and consideration towards scenic aesthetics, in addition to consideration towards the environment such as using materials and equipment that save energy or achieve smaller environmental loads
Please follow the link to see the detailed Comprehensive Assessment System for Built Environment Efficiency

Property name Asset type Location Total floor area(㎡) Assessment rating Certified date
1 Higashi-Kobe Center Building office Kobe-shi, Hyogo 25,740.46 S ★★★★★ Jun. 30, 2022
2 Urban Park Daikanyama Residence Shibuya-ku, Tokyo 8,261.29 A ★★★★ Jul. 27, 2022
3 abeno nini (Retail) Retail Osaka-shi, Osaka 4,866.82 A ★★★★ Aug. 1, 2022
4 La Park Kishiwada Retail Kishiwada-shi, Osaka 65,663.02 A ★★★★ Dec. 11, 2023
5 Seiyu Minakuchi Retail Koka-shi, Shiga 31,829.71 S ★★★★★ Dec. 11, 2023
Total 136,361.30
(Note) As of December 11, 2023