Shinagawa office sells for 5.5 billion Yen
A J-REIT has sold a 33-year old office building in Shinagawa for 5.57 billion Yen (approx. US$37 million), 215% above its approximate book value and 15% above its appraisal.Read more
250m tall tower to transform Yaesu's office market
Developer Tokyo Tatemono announced the official name of its new skyscraper under construction on the Yaesu side of Tokyo Station. TOFROM Yaesu is a 250-meter tall, 51-story office tower due for completion in early 2026. Redevelopment discussions began in 2000.Read more
Foreign tourists now majority of hotel guests in Tokyo and Kyoto
Foreign tourists spent 41.5% more nights in hotels in 2024 compared to 2019, according to the Japan Tourism Agency. Total nights by domestic and foreign travelers reached 650 million for the year, up 5.3% from 2023 and up 9.1% from 2019. Of that, foreign tourists accounted for 25.1%, up from a 19.1% share in 2023 and a 19.4% share in 2019.Read more
Hino sells off additional factory land for over 34 billion Yen
On February 28, Hino Motors announced the sale of a portion of its land holdings to a real estate developer. The sale price was not disclosed but the company is reporting 34 billion Yen (US$230 million) in proceeds from the deal.Read more
Hotel owner looks to sell 205-room Okinawa property
The owner and operator of a 205-room hotel in Okinawa is considering selling it as they shift their focus to larger development projects on the island.Read more
Japan's land prices rise for four consecutive quarters
For the past four quarters, land prices rose across all surveyed locations in major cities, according to the latest quarterly LOOK report published by the Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) on February 21.Read more
Group wins bid for Minato Mirai sites in Yokohama
Yokohama City has selected a group to develop two adjoining land parcels in the Minato Mirai waterfront district. The group signed a land purchase agreement with Yokohama City on February 20 for blocks 60 and 61 totaling 23,129 m2.Read more