Niseko land fraud claim puts town’s water supply at risk
The town of Niseko has found itself in a court battle after a former landowner claimed that a large parcel of land had been sold fraudulently and is now seeking its return. The disputed land covers 16 hectares of forest at the base of Mount Yotei and includes a water source that supplies 80% of the town’s residents. Niseko fears that if the protected land is returned it could then be resold and developed.Read more
Next-gen logistics hub planned for former US Naval facility
Mitsubishi Estate, Tokyu Land, and CRE are jointly developing a 700,000 square meter next-generation logistics facility on a former U.S. Naval facility in Yokohama. The multi-tenant property will be designed to accommodate self-driving trucks.Read more
Apartment rents reach record high in Tokyo, decline elsewhere
The average asking rent of an apartment in Tokyo’s 23 wards reached a record high of 4,851 Yen per square meter in July. This is the sixth consecutive month to set a new price record. Rents were up 1.0% from the previous month and 12.2% from last year. Meanwhile, Yokohama, Saitama, Chiba, Osaka, and Kobe city all saw a drop in year-on-year rents. Read more
Co-living property in Osaka 80% pre-leased before opening
Global Agents, the operator of ‘social apartments’ or co-living housing, opened its first property in Osaka City on August 9 in collaboration with the West Japan Railway Company and West Japan Food Service Net Company. The building was 80% leased up prior to opening.Read more
Mizuho launches fund targeting older buildings
Mizuho Financial Group announced the establishment of a new value-add fund to acquire aging buildings over 20 years old and improve their environmental performance. The group is planning to invest around 200 billion Yen (US$1.36 billion) over the next five years, starting with the 50 billion Yen acquisition of a 35-year old office tower in central Osaka.Read more
Ukai completes sale of Hakone glass museum
On August 7, Ukai, the operator of fine-dining restaurants around the greater Tokyo area, announced the sale of the operating rights of the Hakone Venetian Glass Museum to Daikoku Denki Co., Ltd. for 200 million Yen (approx. US$1.35 million). Daikoku had previously acquired the property and art pieces in late 2024.Read more
Japan Air Lines to open auberge-style hotels across Japan
Japan Air Lines (JAL) is launching its own auberge-style hotel brand with properties planned nationwide. The first of these French-style inns and restaurants is being constructed in Furano, Hokkaido.Read more