With activity in the rest of Asia unusually quiet this past week, Japan continued to be the major hub of securitization in the region. In an interesting move, U.S. insurer American International Group has aligned itself with property developer Urban Corp. for real estate development projects in Tokyo and Osaka.

Over the next two years, AIG will provide around 100 billion ($914 million) to finance construction of condo developments, office buildings, commercial facilities and hotels - all to be built by Urban - as well as the acquisition of properties in Japan's two biggest cities.

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