Development moving forward for Shirokane high-rise condo
A redevelopment committee has been approved for a 1.3-hectare site between Azabujuban and Shirokane-Takanawa Stations in central Tokyo, with plans to build a 45-story apartment building.Read more
Yokohama hotel sold to storage operator
A storage and logistics operator has acquired a 206-room hotel near Shin-Yokohama Station, with the deal taking place on July 30.Read more
Japan’s hotels struggle to keep up with surge in inbound tourism
Japan’s hotel industry continues to hit new strides as inbound tourism reaches new highs, but may be facing a supply crunch. Among the 13 publicly listed hotel operators covering 15 brands, average daily rates (ADR) for the fiscal year ending March 2025 are all up year-on-year, particularly in central Tokyo and regional cities where tourism demand is strong. Occupancy rates have also remained at high levels.Read more
Mitsui to double investment in data centers
Mitsui Fudosan has announced plans to invest an additional 300 billion Yen (US$2 billion) in data center development by 2035, doubling down on its commitment to digital infrastructure in response to growing demand from sectors like generative AI and 5G.Read more
Construction costs hit record high in Okinawa while nationwide starts hits 58-year low
Construction costs in Okinawa reached a record high of 298,900 Yen per square meter in 2024, the highest level since record-keeping began in 2014 and a 12.9% increase from 2023.Read more
Japan’s tallest hybrid-timber tenant office building completed last month
On July 23, Dai-Ichi Life announced the completion of a timber and steel hybrid office building in Tokyo’s Kyobashi address. At a height of 56 meters, this is the tallest hybrid-timber tenant office building in Japan.Read more
Construction firm offers rent-to-own scheme for akiya homes
Rent an ‘akiya’ for ten years and it’s yours. That’s what one construction company in Miyagi Prefecture is offering under its recently-introduced rent-to-own business. The company buys up ‘akiya’ or long-term unoccupied homes from owners and offers them as rentals where the tenant can take ownership for free after renting for ten years.Read more