Yokohama developer teams up with Shanghai real estate company
Yokotoshi Kaihatsu announced on March 26 that they have formed a business partnership with Shanghai Dewei Real Estate. The business partnership was formed as Yokotoshi is nearing insolvency. Dewei will hold a 36% interest in Yokotoshi and will receive two seats on the board of directors.
With the steep rise in real estate prices in China's mainland, investors are seeking offshore investment opportunities. The partnership aims to introduce Japanese real estate to Chinese buyers. Dewei will also provide real estate services to Japanese businesses and clients who are looking for office and residential space in China.Read more
Asahi Kasei to rebuild two condominiums in Shibuya
Asahi Kasei Fudousan Residence Corp will be rebuilding two small apartment buildings in Shibuya-ku.
The first is "Udagawacho Jutaku" (3-3 Udagawacho) which is located alongside "Shibuya Koen Dori Avenue and next to the Shibuya Tobu Hotel. The street includes stores such as Parco, Gap and Opening Ceremony. The current 7-storey building has just 16 apartments and was completed in 1961. Approval from all apartment owners was obtained in September 2010 and demolition began last month.Read more
Carparking as an economic indicator
The Nikkei's Sumai section has an interesting table showing the change in the ratio of carparks to apartments in new buildings across greater Tokyo.
No trespassers on 2nd hole
A partial landholder of the Moriokaminami Golf Club's course in Iwate Prefecture has issued a notice cancelling the lease of their portion of the land and erected a "No Trespassers" sign on the 2nd hole. The owner is a real estate company called SET Support.
The Moriokaminami Golf Club recently entered civil rehabilitation procedures, and the majority of the club members gave approval for corporate restructuring in October 2011. SET Support claim they were not informed of the club meeting last year, despite purchasing part of the course one year prior.Read more
The Mark Minami Azabu sold to Grosvenor
Grosvenor Asia Pacific Limited have purchased expatriate apartment "The Mark Minami Azabu" for an undisclosed sum in January 2012.
The Mark was built on the site of the former training institute of Tokio Marine & Nichido Fire Insurance. The building was completed in August 2008, just prior to the collapse of Lehman Brothers which sent shockwaves throughout the economy and had a serious affect on the market for expat tenants.Read more