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
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