Yaesu 2-Chome redevelopment project to have minor but curious residential component
Construction of the Yaesu 2-Chome North District Category-I Urban Redevelopment Project officially started on December 3. Completion is scheduled for August 2022.
Japan’s whole building renovation market doubles this decade
It has often been said that Japanese consumers prefer new construction over old. However, this way of thinking has started to change over the past few years with home buyers turning their attention to the existing home market. In 2016, sales of existing ‘second-hand’ apartments in greater Tokyo exceeded those of brand-new apartments for the first time ever. This has not gone unnoticed by Japan’s major real estate developers, who, once focusing solely on new construction, are now entering the growing renovation market. 15 of the top 20 developers are already active in this market.
Construction starts on Aoyama Bell Commons redevelopment
Construction has started on a 20-storey commercial building on the site of the former Aoyama Bell Commons building in the Omotesando / Gaienmae area in Tokyo. Completion is due by April 2020.
The 90m tall Kita Aoyama 2 Chome Project will include retail on the first two floors, a hotel on floors 3, 4 and floors 16 through 20, and office and co-working space on floors 5 through 15. The total floor area will be 22,910 sqm, approximatley 50% larger than Aoyama Bell Commons, while the new building will be almost twice as tall.Read more
Office tower to replace residential project in Roppongi Itchome
Sumitomo has started construction on a 7-storey, 46 meter tall office building located directly east of Sumitomo’s 216m tall Izumi Garden and across the street from the 27-storey Park Court Roppongi Hilltop apartment building. The office tower will have a total floor area of 7,910 sqm (85,000 sq ft) and is expected to be completed by January 2019.Read more
Norges Bank acquires 132.5 billion Yen in real estate in Omotesando/Harajuku in JV
Norges Bank Real Estate Management (NBREM), part of Norway’s sovereign wealth fund, will acquire a 70% stake in a 132.5 billion Yen (approx. 1.17 billion USD) portfolio of real estate in Tokyo along with partner Tokyu Land. This is NBREM’s first investment in Asia.Read more
41-storey apartment tower for Sengaku-ji area
A 170 meter, 41-storey high-rise tower has been proposed for the area next-door to Sengaku-ji Temple in Tokyo’s Minato ward. If approved, construction could start in 2020 with completion by 2024.
The 18,000 sqm site is located directly to the east of the historic Sengaku-ji temple and fronts onto the Daiichi Keihin street. The new station for the JR Yamanote Loop Line will be located towards the west, on the opposite side of the street.Read more
Tokyo Apartment Sales in November 2017
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of November 2017:Read more