10 billion Yen resort development for Hanazono, Niseko

Apex Property Limited, a Hong Kong developer founded by two female entrepreneurs, is launching a major resort and holiday villa project in Niseko’s Hanazono district.

The Hana Creek site covers 16.8 hectares of land located 3 kilometers from Kutchan Station. Over 90% of the land will be subdivided into 68 housing lots, ranging in size from several thousand square meters up to 14,000 square meters and priced from around 120 million ~ 2.3 billion Yen (approx. US$1.14 ~ 21.8 million). All lots will have hot spring water access. Sales are expected to start this December.

Construction of the subdivision and required infrastructure will be split across three phases with work on phase one (17 lots) to start in the second half of 2021 with completion in 2022. The remainder of the site will be developed into a clubhouse-style hotel with restaurants and retail. The entire project is estimated to cost somewhere in the 10 billion Yen range.

Compared to the Hirafu district, Hanazono remains largely undeveloped, offering large swathes of nature and idyllic scenery. One of the landmark developments in this area is Pacific Century Premium Developments’ Hanazono Resort, which includes the Park Hyatt Niseko Hanazono Residences.

Hotel accommodation in Hanazono still remains in relatively low supply compared to Hirafu, while its proximity to Kutchan Station – a station earmarked to be a stop on the Hokkaido Shinkansen by 2030 – has foreign developers keen to secure land.

This season, the Grand Hirafu ski resort is gearing up for its first season without foreign tourists and is delaying the scheduled opening by two weeks to December 5. Ordinary, as many as 70% of skiers are foreigners, which means this season could see ski visitors around 20 ~ 30% of normal levels. 

Location

Hanazono, Iwaobetsu, Kutchan, Hokkaido

Source: The Hokkaido Shimbun, September 23, 2020.

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