International property manager Patience Capital Group (PCG) is planning a major expansion in Japan’s luxury ski industry. Its aim is to transform the Myoko Kogen ski resort into a high-end winter sports destination. This initiative comes against a backdrop of rising investment and tourism in Japan, boosted by the weak yen.
Singapore-based investor Patience Capital Group (PCG) plans to open its $1.42 billion fund to new investors for a luxury ski project in Japan, before the Bank of Japan (BOJ) tightens its monetary policy.
Initially endowed with 35 billion yen ($237 million), the fund is intended to transform Myoko Kogen, a Japanese ski resort, into a premier winter sports destination.
It could reach 60 billion yen ($403 million) thanks to new domestic and foreign investments. This initiative comes against a backdrop of increased investment and tourism in Japan, boosted by the weak yen.
Founded in 2019 by Ken Chan, PCG is focusing on lodging and resort properties to capitalize on these economic trends. According to him, the Bank of Japan plans to begin a process of monetary normalization, bringing to an end nearly twenty years of accommodative monetary policy. This development, combined with possible interest rate cuts by the Federal Reserve, is likely to trigger a rise in the yen, which is currently trading near three-decade lows.
“Clearly, from a macroeconomic point of view, this year is very important for placing funds in yen assets, as the yen is too cheap right now,” said Ken Chan. “I think that over the next few months, investors will continue to position themselves in this market”.
Attractive zone
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