Mori Trust planning new luxury hotel in Sapporo
Mori Trust have acquired the Norinchukin Bank’s Sapporo Branch building and land in Sapporo’s Odori Nishi 5 Chome district for approximately 9 billion Yen (88 million USD). The real estate developer plans to demolish the existing 60-year old building and place it with a high-end hotel catering to wealthy foreign tourists. Completion is tentatively scheduled for around 2020.Read more
Investment company takes over stalled resort project in Hokkaido
MA Platform, an investment company affiliated with Mori Trust, is planning a large-scale resort development catering to foreign tourists in Hokkaido’s Tomakomai City. Construction is scheduled to start in 2017 with partial completion by 2020 and full completion by 2026.
The 1,057 hectare site is privately owned forestry which is being leased out by the local landholder. Approximately 42 hectares will be used for the development, which will include a 330 room hotel in three buildings as well as 40 holiday cottages. The first hotel building containing 150 rooms is expected to be completed by 2020. An internationally-branded hotel chain is expected to operate the hotel, with some rooms being available for purchase individually. The holiday cottages may be custom-built for buyers.Read more
Kioi Residence luxury rental apartment building now 80% full
Kioi Residence, the rental-only apartment building in the recently completed Tokyo Garden Terrace Kioicho complex, is proving popular with tenants with 80% of the apartments already under application. Despite facing north, the most popular apartments have been the ones overlooking the historic former residence of Prince Yi Un, which will be used for weddings and functions.
The 21-storey building was only completed last month. The 135 apartments range in size from 55 ~ 227 sqm (590 ~ 2,440 sq.ft), and rents range from 350,000 ~ 2,400,000 Yen (3,300 ~ 22,500 USD) per month. Read more
Mori announces 3.6 billion USD in projects around Toranomon Hills
Last month Mori Building announced details on three new high-rise towers planned for the Toranomon District. These three towers will surround Mori’s Toranomon Hills complex on the north, south and western sides.
The total project cost is estimated at around 400 billion Yen (approx. 3.6 billion USD), and completion is expected between 2019 ~ 2022 2023.Read more
Historic school building in Kyoto to be converted into boutique hotel
A 83-year old former elementary school building in Kyoto will be renovated and converted into a luxury, 40-room boutique hotel. On May 20, Kyoto City announced that they will sign a 60-year lease with NTT Urban Development Corporation. NTT will pay an annual rent of 65 million Yen (590,000 USD) for the building and land.Read more
875-room hotel complex planned for Roppongi
APA Group, a major Japanese developer and hotel operator, has acquired a hotel development site in Roppongi 2 Chome in central Tokyo.
The 1,800 sqm site is located a 6 minute walk from Roppongi Station and a 3 minute walk from Roppongi Itchome Station.
The project will result in a total of six ‘APA Hotel’ branded hotels to be built along the stretch of land fronting onto Roppongi Street. One of the hotels, the APA Hotel Roppongi Itchome Eki-Mae, is already completed and operating. The additional five hotel buildings will result in 875 hotel rooms.Read more
53-storey hotel and residential complex for Nishiazabu
Redevelopment discussions are moving forward for a prime site located directly across the street from Roppongi Hills. Although details are still under discussion, the project could be a mixed-use tower containing a 100-room hotel and 370 rental and condominium-type apartments.
According to a 2015 Investor Relations publication by Nomura Real Estate, the development may include a 53-storey tower with construction scheduled to start in 2018 and be completed by as early as 2022. It is possible that government allowances could result in a taller building than previously proposed.Read more