Chongryon Headquarters purchased by religious organisation
*Update: Chief Priest Ekan Ikeguchi of Buddhist temple Saifukuji announced at a press conference on May 10 that he can no longer purchase the building as the temple was unable to obtain financing. As a result, he will lose his 500 million Yen deposit and be banned from bidding on the building when it goes up for auction again this summer.*
A Kagoshima-based religious organisation made the highest bid to purchase the Chongryon Headquarters / North Korean Embassy in Tokyo's Chiyoda-ku. Saifukuji - a part of the Shingon Buddhism sect - bid 4.519 billion Yen (48 million USD) for the property.Read more
A look inside the foreclosed Chongryon headquarters
The headquarters of the Chongryon and de facto embassy of North Korea in central Tokyo were seized by the Supreme Court in 2012 over unpaid debts. The 10-storey building and 2390 sqm block of land are up for public auction this month with bids open from March 12 to March 19.
The court evaluation is approximately 2.66 billion Yen (28 million USD), which is not even close to the 62.7 billion Yen debt owed by Chongryon to the Resolution and Collection Corporation. Despite the prime location, the court evaluation is considered to be relatively low. This is partly attributed to the building's ties with North Korea which may turn off a few investors.Read more
Redevelopment planned for Shibuya city office
Moves are underway to rebuild the Shibuya City Office buildings after it was discovered that they would be at risk of falling over in an earthquake that produced a shindo level of upper-6 (read about the Japanese seismic intensity scale here).
At a press conference held on February 12, Shibuya ward mayor, Toshitake Kuwahara, announced that they hope to decide on a budget for the project during the 2014 financial year. The buildings are currently below the maximum allowable building size for the site, so the local council hopes that the availability of additional space will help to reduce their own redevelopment costs.Read more
Ark Hills South Tower
Mori Building announced on January 4 that their new office building between Izumi Garden Tower and Ark Hills will be called 'Ark Hills South Tower'. The 20 storey building is scheduled for completion in August 2013, and will boast the largest rooftop garden in central Tokyo.
Each floor plate is approximately 1900 sqm (20,444 sqft) and ceiling heights are 2.9 meters (higher than the standard of 2.8m).
It has already been awarded the a Platinum ranking under the DBJ Green Building Certification, which is a certification system created by the Development Bank of Japan. Read more
A look at the demolition of the Grand Prince Hotel Akasaka
The demolition of the 140m tall Grand Prince Hotel Akasaka is underway with the building now standing at three-quarters of its original height.
The work is being carried out by a joint venture between Taisei Corporation and Seibu Construction using the 'Taisei Ecological Reproduction System' (Teco-Rep System). Assistant Director of Taisei's Construction Engineering Development Department, Mr. Hideki Ichihara, explains the process:Read more