The ARGYLE aoyama opens
On June 19, the 20-story mixed-use redevelopment of Aoyama Bell Commons reached completion. The 90-meter tall building, named the ARGYLE aoyama, includes office, hotel and retail.
Quick real estate news summary for the week
Mass layoffs at a major landlord, hotel deals off the table, the biggest drop in business outlook, but good news for warehouse owners. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Malaysian developer joins forces for hotel-condo project in Yokohama
A joint venture between Berjaya Corporation Berhad, Marubeni, and Daiwa House Industry, has been selected to develop a two-hectare land parcel in Yokohama’s waterfront Minato Mirai 21 District.
113-yr old ryokan in Sendai closes its doors
The 113-year old Chitoseya Ryokan in Sendai City closed its doors on May 31. It was originally scheduled to close in 2021 as the current operators, now in their 70s, have no successor. But, the recent decimation of the tourism industry caused by the coronavirus pandemic hastened the closure.
180-meter tall office tower planned for Omotesando
The Urban Renaissance Agency, a semi-governmental housing corporation, is planning a 180-meter tall office tower for the northern end of the former Aoyama Kitamachi Apaato public housing block in Omotesando.
Number of registered short-term accommodations drop for first time
The number of registered ‘minpaku’ short-term accommodation providers has dropped for the first time since the new system was introduced in June 2018. According to the Japan Tourism Agency there were a total of 21,176 registered properties across Japan as of May 11, down from 21,385 just one month earlier.
1,001 room hotel planned for Niigata
On May 21, hotel developer and operator APA Group held the ground-breaking ceremony for a 1,001-room hotel and 212-unit condo development in Niigata City. This will be the largest mixed-use hotel and residential development in East Japan.