Tokyu Plaza Ginza sold

On March 3, Tokyu Fudosan Holdings Corporation announced the sale of Tokyu Plaza Ginza. The sale price was not disclosed, although it had a book value of 118.5 billion Yen (US$872 million) as of March 2022. Tokyu is expecting an impairment loss of 21.1 billion Yen for the fiscal year ending March 2023.

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Kajima eyes potential in Japan's luxury real estate sector

Last month, construction giant Kajima Corporation announced plans to enter the luxury sector of the real estate market, and has already kicked things off with the acquisition of two properties from British developer Grosvenor. Within the year, the company is also expected to complete the purchase of luxury housing to lease to wealthy domestic and foreign tenants.

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Apple Store finds new location in Ginza

With demolition looming for its landmark building in Ginza, the Apple Store will be moving into new digs from August 30. The store is relocating to a Kengo Kuma-designed hybrid wood and steel building in the Ginza 8 Chome address.

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Ginza ryotei restaurant to be demolished

A major developer has acquired a traditional ryotei restaurant building in Ginza with plans to demolish it and replace it with an office tower.

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Recruit sells Ginza HQ Building

Human resources giant Recruit Holdings has sold its headquarters in Ginza to Hulic for an undisclosed amount. Recruit plans to lease back the office building after the sale.

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Apparel company sells flagship Ginza building

On July 17, apparel giant Sanyo Shokai announced the sale of their flagship building in Ginza. Temporary store closures during the pandemic have hit the brick-and-mortar retail sector hard, with some cashing out of their real estate holdings to shore up cash reserves. Real estate developers are having a field day as struggling companies reach out to offload long-held and highly-prized assets.

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Son sells Tiffany Building in Ginza

As part of their expansion in investment in the Ginza district, real estate company HULIC has acquired the Tiffany Ginza Building from SoftBank CEO Masayoshi Son this month. This was a joint purchase with Fuyo General Lease, a Mizuho Financial Group company.

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