On March 30, Jiji Press reported that off-the-plan sales in Harumi Flag have been temporarily suspended and the sales showroom closed. The large-scale condo complex on a manmade island in Tokyo Bay was initially planned to be used as the Athletes Village for the 2020 Olympics, but the postponement of the games has thrown a wrench into the scheduling of the post-Olympic refurbishment of the apartments.
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The 180-meter, 38-story Kamiyacho Trust Tower building reached completion on March 16. This high-rise mixed-use tower forms part of the 1.6 hectare Tokyo World Gate complex in Tokyo’s Toranomon district.
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During an appearance on a morning show on March 27, Tokyo governor Yuriko Koike floated the idea of using the soon-to-be-completed Athletes Village in Harumi as a temporary hospital to house non-critical coronavirus patients.
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Sales in a new condo in Tokyo’s Tsukiji district started on March 7. Atlas Tsukiji is an 11-story apartment building located just behind the Tsukiji Hongwanji temple and a 3-minute walk from Tsukiji Station.
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Nomura Real Estate Development is in the process of building a wood-frame hybrid condominium in Tokyo’s Ochanomizu district.
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A luxury condo development in Kanazawa, Ishikawa Prefecture, has sold out. The Residence Kanazawa forms part of a mixed-use project that includes the Hyatt House and Hyatt Centric Kanazawa Hotel.
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New housing starts across Japan in 2019 dropped 4.0% from the previous year to 905,123 units. This is the third year in a row to see a year-on-year decline. This was primarily due to a tightening on lending for investment-type apartment blocks after a widespread loan fraud scandal came to light in 2018.
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One of Japan’s largest property companies is in the process of developing 600 ~ 700 billion Yen (approx. US$5.5 ~ 6.5 billion) in projects around the Marunouchi and Otemachi districts.
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Four developers are working towards a large-scale redevelopment that will see a 400-meter long, 30-story mixed-use building for the Nagoya Station area.
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Construction of the 183-meter tall Toranomon Hills Business Tower was officially completed on January 21. The 36-story tower, designed by Ingenhoven Architects, forms part of Mori Building’s ongoing redevelopment of the Toranomon district.
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