Omotesando low-rise rumored to sell for 25 billion Yen
Last week the Nikkei Real Estate Market Report announced that the rumored sale price of the Forest Hills retail and office building in Omotesando was 25 billion Yen (approx. US$165 million).Read more
A quick look at Harumi’s office market
Let’s take a look at Harumi’s office market as there are some noticeable vacancies this year.Read more
Akihabara high-rise project moving ahead despite opposition
A 170-meter tall mixed-use redevelopment may soon be going ahead for a multi-block site in Akihabara. To move forward with project planning, the required two-thirds approval was obtained from landowners last month.Read more
170m tall tower for north side of Iidabashi Station
Details of a 170-meter tall mixed-use project near Iidabashi Station have been announced. Construction of the Koraku 2 Chome South District Redevelopment is scheduled to start in 2026, with completion by 2030 ~ 2031.Read more
Hyatt House opening Shibuya property next February
The Hyatt House brand of extended-stay hotels is coming to Tokyo next February with the opening of the Hyatt House Shibuya Tokyo. This is the second Hyatt House in Japan - the first opened in Kanazawa in 2020.Read more
Modernist theatre demolition delayed due to rising construction costs
Rising construction costs might have granted the National Theatre an inadvertent temporary reprieve of demolition. The 57-year old modernist building was scheduled to meet with the wrecking ball sometime after the end of October.Read more
Imperial Hotel sells 35% of land for 62 billion Yen
On September 26, Imperial Hotel announced plans to sell a 35% share of the land under its tower building in its Tokyo property to Mitsui Fudosan for 62 billion Yen (approx. US$416 million). This purchase price works out to around 15 million Yen per square meter (US$9,300/sq.ft), which is approximately 93,600 times its book value.Read more