Oriental Land Co., Ltd. have acquired a 23,000 sqm site within the Tokyo Disney Resort for 9.3 billion Yen (404,350 Yen/sqm). The seller is the Dai-ichi Life Insurance Company – a major shareholder in Oriental.
The site is located between the Hotel Okura Tokyo Bay and the Hilton Tokyo Bay. The site is currently home to the former Tokyo Bay NK Hall.
Dai-ichi will demolish the building before handing it over to Oriental in April 2016. The hall was opened in 1988 and hosted concerts and sports events. However, it closed in 2005 due to increased competition from similar event halls in Tokyo.
Source: The Nikkei Shimbun, December 24, 2013.
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