Newsroom

Mori Building is certainly on a roll. Japan's premier developer is preparing to launch its 49-story Toranomon Hills Station Tower later this year, capping off a series of major redevelopments in the Toranomon area in central Tokyo. Shortly after the launch of this project, Mori will be launching a landmark urban redevelopment project, Azabudai Hills, nearby in the Azabudai-Kamiyacho area. Azabudai Hills is probably the most anticipated project in Tokyo at present, due to the project's sheer size (8.1 hectare site, floor area of close to 900,000sqm), and the Janu hotel, Aman residences, Thomas Heatherwick-designed retail component, and other features in the project.

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BentallGreenOak is acquiring the landmark 1,000+ key Rihga Royal Hotel in central Osaka for close to US$400m. The hotel will undergo a major refurbishment and the new owner will partner with IHG for the rebranding of the property.

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US-based Fortress Investment and Yodobashi Holdings are jointly acquiring the Sogo and Seibu Department store business in Japan in a US$1.4bn deal. The seller is the operator of 7-Eleven, Seven & i Holdings.

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The real estate market in Niseko, Japan’s hottest ski destination, is poised for another surge in transactions on the back of pent up demand and the weak yen. Other markets including Hakuba and Furano are also expected to benefit.

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Grosvenor's real estate investment platform in Japan will commence operations as Eaton Real Estate this month after being acquired by Kajima Corporation, one of Japan largest's construction and property investment companies. Eaton Real Estate will operate as an independent subsidiary of Kajima.

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