Japanese rigour, Dubai ambition: Why Kasumigaseki Capital chose UAE for its next growth chapter

Dubai: Kasumigaseki Capital - a Tokyo Stock Exchange (TSE: 3498)-listed Japanese real estate developer and investment manager with a focus on logistics facilities, hotels, healthcare facilities, fund management, and international real estate investments - has established its regional headquarters in Dubai as part of its long-term international growth strategy. Mohammad Khalifa Majid Alabbar Alfalasi, Local Chairman of Kasumigaseki Capital MENA, explains why Dubai emerged as the natural base for the company's Middle East operations, discusses its investment philosophy, and shares how Japanese operational excellence can contribute to the UAE's evolving real estate sector. What strategic factors made Dubai the natural hub for Kasumigaseki Capital's Middle East operations? Mohammad Khalifa Majid Alabbar Alfalasi: Dubai was never really in question, and I say that as someone who has watched this city build itself. But let me answer from Kasumigaseki Capital’s perspective, because the process was quite deliberate. The group has a very specific way of assessing a market before committing capital for the long term. Instead of looking at cycles, it looks for structural demand, regulatory transparency and a clear line of sight over decades, and Dubai satisfies all three. It sits at the intersection of Asia, Europe and Africa, and the regulatory environment here is transparent and genuinely investor-friendly. The Dubai 2040 Urban Master Plan, spearheaded by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, gave Tokyo the conviction that the demand underpinning real estate, hospitality and logistics is structural, not speculative. That is the kind of certainty a listed Japanese company needs before it moves. What made it a natural step rather than a leap is that the group had already been active in Dubai since 2022. By the time we formalised the regional headquarters in 2023, there was local knowledge, a team of 90 professionals working across real estate investment, asset management and hospitality operations, and a track record. My role, and the reason I took it on, is to ensure that Japanese discipline translates properly into this market; that we build here with the same rigour applied in Tokyo, but with an understanding of Dubai that only comes from being of this place. Why was this the right moment for Kasumigaseki Capital to formalise its regional presence in the UAE? Mohammad Khalifa Majid Alabbar Alfalasi: Kasumigaseki Capital does not rush market entries, and it did not rush this one. The group spent several years gaining first-hand experience in Dubai — acquiring properties, learning the market’s rhythms and building relationships — before committing to a permanent regional platform. That patience is characteristic of how it operates, and it is a large part of why I was willing to take on this role. The timing came together on both sides. In Tokyo, the parent company’s growth has given it real balance-sheet strength, with a total project pipeline and assets under management of US$5.17 billion as of February 2026. That enabled it to invest abroad with conviction rather than caution. Here at home, our economic diversification agenda, guided by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, UAE Minister of Finance and Deputy Ruler of Dubai, has created exactly the kind of long-term, high-quality opportunity this group is built to pursue. The timing was right because two things aligned: a company with the discipline to build for the long term, and a country that rewards precisely that. How does the UAE fit into Kasumigaseki Capital's long-term international growth strategy? Mohammad Khalifa Majid Alabbar Alfalasi: The Middle East, and the UAE specifically, is now one of three key markets in the group's international strategy, alongside its home market in Japan and its recent entry into the United States through Miami. The group envisions growth in a sequenced, not scattered, manner, building a strong track record in one market before extending outward. I have been entrusted with this region's operations, with Dubai serving as the regional headquarters. Real estate development is our key sector here. It is where the group's expertise runs deepest and where our current pipeline sits. That is the lens through which the group views the Middle East: real estate first, out of Dubai. It is what distinguishes an anchor from an outpost, and it is the mandate I hold. What differentiates Kasumigaseki Capital's investment and development approach from that of other international real estate players entering the region? Mohammad Khalifa Majid Alabbar Alfalasi: Where we differ is in the model, not just the ambition. Most developers in this market are built around a single exit. They acquire, build, sell and move on. The parent company in Japan operates what it calls a ci