Hotel owner looks to sell 205-room Okinawa property
The owner and operator of a 205-room hotel in Okinawa is considering selling it as they shift their focus to larger development projects on the island.Read more
Japan's land prices rise for four consecutive quarters
For the past four quarters, land prices rose across all surveyed locations in major cities, according to the latest quarterly LOOK report published by the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) on February 21.Read more
Group wins bid for Minato Mirai sites in Yokohama
Yokohama City has selected a group to develop two adjoining land parcels in the Minato Mirai waterfront district. The group signed a land purchase agreement with Yokohama City on February 20 for blocks 60 and 61 totaling 23,129 m2.Read more
180m tall office tower completed in Toranomon
Construction of Toranomon Alcea Tower was officially completed on February 14, though tenant move-ins are expected to begin towards the end of the year. The 38-story office building was built on the former site of Toranomon Hospital, which was recently rebuilt next-door as part of a larger block redevelopment.Read more
REIT acquires minpaku building in Osaka
A REIT has acquired a ‘minpaku’ or short-term accommodation-registered apartment building in Osaka from its sponsor for approximately 2.5 billion Yen (US$16 million). The acquisition price works out to around 37 million Yen per key.Read more
Tokyo apartment rents increase 1.6% y-o-y
The average advertised rent of condo-type apartments in Tokyo’s 23 wards reached 4,332 Yen/m2 in January, according to Tokyo Kantei. This is a 0.9% increase from the previous month and a 1.6% increase from January 2024.Read more
Malaysian developer backs out of Okinawa resort project
Rising construction costs were cited for the recent withdrawal from a beachfront resort project in Okinawa by a Malaysian developer.Read more