On July 16, Odakyu Department Store Co., Ltd. announced that they will be closing their Shinjuku Main Store at the end of September 2022. This is to make way for a major redevelopment project on the western side of Shinjuku Station.
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30-story apartment tower in Fukuoka to be demolished
A high-rise apartment building in Fukuoka City is going to be demolished six years after it was discovered to be affected by the data falsification scandal surrounding rubber used in the base-isolation of buildings.
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Odaiba onsen to close in September
The Odaiba Ōedo-Onsen Monogatari on Tokyo Bay will close its doors permanently on September 5, ending 18 years of operations. The old Edo-themed theme park onsen opened in March 2003 and was visited by as many as 1,000,000 people annually.
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Ginza ryotei restaurant to be demolished
A major developer has acquired a traditional ryotei restaurant building in Ginza with plans to demolish it and replace it with an office tower.
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Nakagin Capsule Tower to be demolished from March 2022
The iconic Nakagin Capsule Tower in Ginza, designed by the late and great Kisho Kurokawa, will reportedly be demolished from March 2022. After years of disagreement, the capsules owners decided to sell the 49-year old condo-style apartment building to a real estate company this spring. That company will demolish it and build something new in its place.
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Mansion Kyoto Shirokanedai to be redeveloped
A 50-year old apartment building in Tokyo’s Shirokanedai neighborhood will be redeveloped by Hankyu Hanshin Properties. The owners association of the 65-unit building, along with Hankyu, have received an additional floor-area ratio (FAR) allowance from Minato Ward under the condominium redevelopment act.
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Imperial Hotel confirms Kyoto project
On May 12, the Imperial Hotel officially released plans for their luxury hotel project in Kyoto’s Gion district. This will be the fourth Imperial Hotel in Japan and the newest in almost three decades. It is also expected to be the most expensive of their hotels, with a level of service matching that of the Imperial Floors in their Tokyo hotel.
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Former Mizuno HQ (c1927) to be demolished
On May 18, sporting company Mizuno Corporation announced plans to demolish their 94-year old former headquarters building in Osaka.
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Quick real estate news summary for the week
880 million Yen to demolish an abandoned statue, Bauhaus residence to be torn down, and Tokyo has the 2nd highest commercial real estate volume in the world. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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Tokyo Department Store and Bunkamura to be redeveloped
Tokyu’s main department store and adjoining Bunkamura hall facility in Shibuya will be demolished in 2023 to make way for a new development.
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