Imperial Theatre redevelopment plans announced
Details on the redevelopment of the Imperial Theatre in Tokyo’s Marunouchi district were announced last month. The 59-year old theatre will be replaced with a 155-meter tall, 29-story mixed-use tower. This is a joint venture between Mitsubishi Estate, Toho Co., and the Idemitsu Museum of Arts foundation.Read more
Hulic to redevelop former Mizuho Bank building in Omotesando
Real estate giant Hulic is in the process of demolishing the Hulic Aoyama Building above Omotesando Station. The 9-story office building once housed a Mizuho Bank branch on the lower floors.Read more
Gap remains between asking rents and tenant budgets in Tokyo
With inflation-adjusted real wages remaining stagnant in Japan, how have residential rents in major cites been faring? If you only look at advertised rents, year-on-year increases of 30 ~ 45% can be seen in some city centers, particularly for family-type rental apartments. But are tenants willing to pay these prices?
In October, listing portal site LIFULL HOME’S published its latest rental data, which separates rental data into advertised rents and those inquired about by potential tenants. The gap between the two has been growing significantly in some cities.Read more
Pullman Hotel announced for former Nakagin Capsule Tower site in Ginza
An interesting update for the site of the former Nakagin Capsule Tower building in Ginza, with the Pullman Tokyo Ginza hotel to be built in its place.Read more
Central Tokyo's office vacancy rate drops to 48-month low
Tokyo’s office market continues to show signs of gradual recovery as vacancy rates improve and rents stabilize. While bayside submarkets continue to struggle with high vacancy rates, the central business areas have seen vacancy rates contract to a 48-month low.Read more
Construction giant enters data center business
Construction giant Obayashi Corporation announced its entry into the urban data center market with the establishment of a new development and operational firm called MiTASUN.Read more
University acquires Hilltop Hotel
Meiji University has acquired the historic Yamanoue Hotel (Hilltop Hotel) adjoining its campus in central Tokyo. The university announced the acquisition on November 15.Read more