Tokyu’s new short-term accommodations target growing market for flexible stays
With demand for long-term serviced apartments on the rise, Tokyu Corporation launched its own brand of monthly furnished rentals on March 27. The apartment-hotels cater to both longer-term tenants looking for monthly leases and tourists looking for nightly stays.Read more
Osaka casino construction to start April 24
Construction of Japan’s first casino is scheduled to begin on April 24. The 49-hectare site is located on Yumeshima island in Osaka, across the street from EXPO 2025.Read more
Construction starts on life sciences building in Toyocho
Mitsui Fudosan has started construction on a life sciences building near Toyocho Station in Tokyo’s Koto ward, with completion expected in the summer of 2026.Read more
Niseko developer faces court-issued bankruptcy order
A developer of a 200+ room luxury condo-hotel in Niseko was issued an order of commencement of bankruptcy proceedings by the Tokyo District Court on April 8. Creditors have until May 13 to file proofs of claims.Read more
REIT sells multi-family for 133% gain on book value
A REIT has sold two multi-family buildings in Tokyo and Osaka for 4.01 billion Yen, 133% above book value and 58% above appraised value. The two buildings contain a total of 106 apartments, and are operating at a 98% occupancy rate.Read more
MUFG Launches 100 billion Yen fund amid Japan real estate boom
Mitsubishi UFJ Financial Group (MUFG) is planning to acquire 100 billion Yen (US$678 million) worth of office and multi-family assets in Japan over the next three years, according to an article in the Nikkei Shimbun newspaper. The move comes as Japan’s relatively low real estate prices, ultra-low interest rate environment, and recent inflation continue to create a highly competitive market for both domestic and foreign capital seeking capital gains.Read more
Marunouchi landlord expands flex space
Marunouchi’s largest landlord, Mitsubishi Estate, is adding to its flexible office space in the district as it seeks to boost rents in a tightly supplied market.Read more