Osaka World Trade Center

Plagued by high vacancy rates and high maintenance costs, Japan’s fourth tallest building is looking for a hotel to occupy its empty floors.

The Osaka Prefectural Government Sakishima Building is 40% vacant, with the remaining space largely taken up by government departments and private companies. The 55-storey building is inconveniently located on a man-made island in Osaka Bay with poor transport options. Additional concerns about earthquake risks have deterred potential tenants.

Osaka Prefectural Governor Ichiro Matsui announced that the government is considering appealing to a hotel operator to take up the vacant floors. The prefecture spends approximately 400 million Yen per year maintaining the building. If the 7th ~ 17th floors are occupied by a hotel, the building’s occupancy rate could reach 80%.

This content is available to paid subscribers only.

Sharing information on Japan’s real estate market has been a long passion dating back 14 years. However, gathering and preparing this content takes hours and hours each week. By joining our monthly subscription service, you can access over 3,200 articles dating back 14 years. Best of all, you’ll be supporting us in our endeavor to continue to provide investors with on-the-ground, expert information.

To join our paid subscription service and access over 3,200 news articles on Japan's real estate market, please register here.

Already a paid member? Log-in using your details below.