Mitsui announces plans for US$10-billion ‘Greater Nihonbashi’ redevelopment
On August 29, Mitsui Fudosan announced major redevelopment plans for a district alongside Nihonbashi river in downtown Tokyo. The project is expected to be completed somewhere between 2030 and 2040 and costs could run as high as 1 trillion Yen (approx. US$10 billion).
Foreign funds return with force in 2019
With ultra-low interest rates and one of the highest yield gaps in international cities, foreign funds are increasingly turning their attention towards real estate in Tokyo and the rest of Japan.
120m tall office tower for Shibuya Station area
A 120-meter tall office tower is planned for a site just behind the Shibuya Hikarie building in central Tokyo.
91-yr old bathhouse converted to shared office
A Yamagata-based construction company has refurbished a traditional 91-year old bathhouse near Ueno, Tokyo, into a shared office, cafe, and event space.
Toho Twin Tower to be redeveloped
On June 25, film studio Toho announced plans to redevelop the Toho Twin Tower building in Yurakucho, Tokyo. Construction giant Takenaka Corporation will be in charge of planning and construction.
Kyoto’s office shortage is getting dire
Kyoto’s shortage of office space is becoming critical as vacancy rates drop below 1%. With a booming tourist industry, developers have been focusing on building hotels, leaving very little supply of new offices.
Tokyo office vacancy reaches lowest level in 29 years
The office vacancy rate across Tokyo’s central five business districts dropped to 1.64% in May, down 1.04 points from last year and the lowest level seen since December 1990 when the rate was 0.39%.