Investment company takes over stalled resort project in Hokkaido

Hokkaido Tomakomai

MA Platform, an investment company affiliated with Mori Trust, is planning a large-scale resort development catering to foreign tourists in Hokkaido’s Tomakomai City. Construction is scheduled to start in 2017 with partial completion by 2020 and full completion by 2026.

The 1,057 hectare site is privately owned forestry which is being leased out by the local landholder. Approximately 42 hectares will be used for the development, which will include a 330 room hotel in three buildings as well as 40 holiday cottages. The first hotel building containing 150 rooms is expected to be completed by 2020. An internationally-branded hotel chain is expected to operate the hotel, with some rooms being available for purchase individually. The holiday cottages may be custom-built for buyers.

MA is hoping to attract medical facilities to be built in the resort area in order to cater towards demand for medical tourism from overseas visitors. There are also plans for supermarkets and retail in order to create a pleasant environment for long-term stays.

Back in mid-2012 there were plans to start construction on an Aman ‘Chedi’-branded resort, along with horse-riding and trekking facilities on this site. Japanese architect Tadao Ando was said to have designed the resort, with completion scheduled for 2014. The total investment was estimated at 13 billion Yen (158 million USD at the time). MA bought out the previous developer in March for an undisclosed sum.

This time, MA’s investment is expected to reach 60 billion Yen (approx. 587 million USD), but could reach 100 billion Yen (approx. 980 million USD) depending on demand. This will be the first development for one of Mori Trust’s affiliates in Hokkaido.

Source: The Hokkaido Shimbun, June 26, 2016.

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