Kengo Kuma-designed residential and retail project for Daikanyama
On May 17, real estate developer Tokyu Land announced that construction had officially started on a Kengo Kuma-designed mixed-use complex just by Daikanyama Station in central Tokyo.
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.
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.
Marunouchi’s first high-rise to be demolished
Another building by an iconic architect is destined for the wrecking ball. This time it is the first high-rise to have been built in the Marunouchi business district in front of Tokyo Station.
Quick real estate news summary for the week
Tokyo house prices increase by 9.2%, office vacancies climb for 14th month, and 68 major developments planned for Tokyo. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
MUFG to rebuild Marunouchi HQ
MUFG Bank is planning to redevelop their headquarter building in Tokyo’s Marunouchi district. Plans are expected to be firmed up by 2022 with a construction schedule to be announced at a later date.
Firms accelerate sales of real estate holdings
As anticipated, some of Japan’s major corporations are fastening the sell-off of their prime real estate holdings as the effects of the pandemic continue. Finding buyers for these key assets is easy, with worldwide monetary easing seeing wealthy funds on the hunt for real estate in safe and stable environments.