Kobe City has sold part of the Kobe Harborland site to Itochu Corporation.

A 4200 sqm block of land in Higashi Kawasakicho 1 Chome was sold for 3.12 billion Yen (38 million USD). Itochu are planning to build a condominium on the site. Under the arrangement, the condominium will include a nursery school.

The site is within a residential and school zoned district. It was previously leased by a private corporation and used as a carpark, but the lease ended in February.

Three companies made bids on the site, and Itochu was the winning bidder. The new apartments are scheduled to be complete by March 2015.

Mitsubishi Jisho are also planning a new residential tower for the Harborland area.

Source: The Sankei Shimbun, March 27, 2012.

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