Asahi Kasei Realty & Residence Corporation and World Residential Co. are starting work on the redevelopment of the former Aoyama Asia Mansion in Shibuya this month. The 5-story, 60-year old condo was demolished in 2020 and will be replaced with a 14-story apartment tower.
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The mixed-use and oddly-named Shinagawa Goos building on the western side of Shinagawa Station officially closed its doors on March 31, ending 50-years of operations.
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Tokyo Tatemono and Hotel Properties Limited are developing a 195-meter tall, 49-story mixed condominium and hotel high-rise just south of the Osaka / Umeda Station district. This will be the first high-rise development in Japan to have both the Four Seasons Hotel and a condominium in the same building.
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Shibuya office building sells for 6 billion Yen, Hilton to open in Miyakojima, Hankyu closes hotels, and Gifu and Mie both to see largest condo projects in history. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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On March 14, detailed plans for the redevelopment of the Kokusai Shin-Akasaka Buildings were released. The Akasaka 2, 6 Chome District project will see two towers of 230 meters and 110 meters tall.
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The supply of brand new apartments released for sale across Japan in 2020 hit the lowest level since 1976. According to the Real Estate Economic Institute, a total of 59,907 apartments were released for sale, down 15.2% from 2019.
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Major developer Mori Building has formed a partnership with Aman Resorts to create Aman-branded apartments on the upper floors of the Toranomon-Azabudai project currently under construction in central Tokyo.
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Mitsubishi Corporation Urban Development is starting work on a luxury rental apartment building development in Daikanyama, Tokyo.
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There are signs of life on the site of a now-demolished scandal-ridden building in Roppongi.
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Togo Shrine will be redeveloping their 43-year old wedding and event building within the Shrine grounds next year.
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