30% of developers postponing building redevelopment projects, survey says
Amid rising material costs and a shortage of labour in the construction industry, over 30% of Build To Rent-type developers are reportedly delaying or revising redevelopment plans for older buildings. This finding comes from a report published by the Development Bank of Japan (DBJ) on November 29.Read more
Demolition to start on Shibuya 2 Chome multi-block project site
The Shibuya 2 Chome West District Redevelopment project will kick off in a few months. This project includes National Strategic Housing, giving it a boost to its floor-area ratio. The overall project, covering blocks A, B, and C, covers a total site of 18,800 m2, and includes a small retail space, along with residential and office towers with a GFA of 322,200 m2.Read more
Sapporo skyscraper to shrink as project costs skyrocket
The Hokkaido Railway Company (aka JR Hokkaido) is revising its plans for a skyscraper in front of Sapporo Station. Rising construction costs have seen the estimated project budget to reach the mid-300 billion Yen (US$2 billion) range, 100 billion Yen more than anticipated.Read more
Rising construction costs delay redevelopment of Nakano Sunplaza
Redevelopment of the Nakano Sunplaza is likely to be delayed as rising construction have resulted in a blow out in estimated project costs.Read more
130-meter tall office & residential tower for Iidabashi
A 130-meter tall, 21-story mixed-use building is planned for part of a city block just south of Iidabashi Station. This project will be primarily office with the top four floors dedicated to apartments.Read more
Luxury rental apartment project near Canal City paused
Plans for a luxury mixed-use development next-door to Fukuoka’s Canal City might be put on hold due to a labor shortage and rising construction costs. The now-closed Canal City Hakata East Building opened in 2011 as a retail complex. Initially, tenants included many international fast fashion brands.Read more
Department Store plans 500 billion Yen redevelopment
Isetan Mitsukoshi Holdings is planning to invest 500 billion Yen (approx. US$3.2 billion) in a large-scale redevelopment project in the neighborhood around its landmark Isetan Shinjuku Department Store. This redevelopment plan is expected to boost annual department store revenues by 100 billion Yen.Read more