Daejan Holdings is a British-based property business, part of the Freshwater Group of companies. It has its headquarters at Freshwater House, Shaftesbury Avenue. It was listed on the London Stock Exchange as DJAN until it was acquired by the Freshwater Group in May 2020.
History
The Company was formed in 1935 as Daejan Samoedra Estates Ltd to acquire rubber and coffee plantations in the Dutch East Indies, today's Indonesia, mostly on the island of Java.[2] In 1949 an insurrection which led to the independence of Indonesia resulted in a number of plantations being occupied or destroyed. In 1959 Osias Freshwater reversed his property business (a number of landmark buildings in London) into the company and this is now its sole activity. The name of the Company changed to Daejan Holdings Limited.[2][3] In 2012 Daejan bought 139-143 Oxford Street for £12.8 million.[4]
In December 2018, it was reported that Park West, a building managed by another Freshwater Group subsidiary,[5] had a very high proportion of flats under investigation for being let out illegally.[6]
In February 2020, the company agreed to be acquired by Freshwater Group, its majority shareholder, for £1.3 billion.[7]
Operations
Daejan is organised into two geographic segments - UK and US - of investment properties: residential and commercial. As at 31 March 2019, its portfolio was valued at £2.5 billion.[1]
References
- ^ a b c d "Annual report 2019" (PDF). Daejan Holdings. Retrieved 1 March 2020.
- ^ a b "Benzion Freshwater & Family" (PDF). Estates Gazette. 2010. Archived from the original (PDF) on 23 April 2016. Retrieved 1 April 2016.
- ^ "A brief history of Daejan Holdings". www.daejanholdings.com. Retrieved 6 January 2018.
- ^ "Freshwater pieces together £300m Oxford Street puzzle". Property Week. 22 August 2014. Retrieved 17 April 2017.
- ^ "Park West Management". Park West Residents Association. Retrieved 17 March 2019.
- ^ Sullivan, Conor (7 December 2018). "Airbnb rentals in London block sparks call for action". Financial Times. Retrieved 8 December 2018.
- ^ "Daejan agrees £1.3bn takeover with majority shareholder". Proactive Investors. 21 February 2020. Retrieved 4 May 2020.
External links
This page was last edited on 23 April 2022, at 10:21