Aman Residences and Janu headlining Mori Building's next major project
Aman Residences and its sister hotel brand Janu to headline Mori Building’s huge Toranomon-Azabudai urban redevelopment project in central Tokyo slated for completion in 2023.
Data centre sector continues to attract significant investment
Daiwa House is building Japan's largest hyperscale data centre in Chiba, east of Tokyo, at a cost of close to US$1bn and Google plans to build a facility in the same area.
Nippon Express joins the queue to exit major real estate holdings
Japanese logistics firm Nippon Express is considering the sale its Tokyo HQ worth close to US$1bn. This news comes on the back of a similar announcement by advertising agency Dentsu. Covid is certainly putting pressure on Japanese corporates to reassess their real estate holdings.
Casino operator for Yokohama IR likely to be announced later this year
Yokohama continues its proactive IR strategy as it kicks off a formal RFP process to identify the casino operator. The operator is due to be announced later this year.
Dentsu mulls sale of its US$3bn Tokyo HQ building
Interesting article below on the potential sale of Dentsu’s US$3bn HQ building in Tokyo which could become the largest property transaction ever in Japan. This comes on the back of the high-profile sale of Avex's HQ building in Aoyama recently to BentallGreenOak. Is this the start of a wave of sales of real estate holdings by non-real estate companies in Japan? At Nikota, we think it is likely to be, and it is something we have been talking about for a while.