TOKYO: Japanese land prices rose 1.5 per cent in the year to 1 Jul, marking a fifth straight year of gains and maintaining the strongest pace of growth since the aftermath of the country's asset-price bubble more than three decades ago, data showed on Tuesday (15 Sep). The increase matched last year's rise, which was the largest since a 3.1 per cent gain in 1991, when property prices and the economy were beginning to lose steam after years of red-hot growth. While the Bank of Japan has said it sees little sign of overheating in asset prices, the survey will likely be among factors it will scrutinise in determining how swiftly it should dial back stimulus and raise still-low interest rates.
Tokyo's Shinjuku ward will ban more than 50% of holiday rentals, including Airbnb listings, after a surge in complaints. The new rules target properties in residential zones and areas near schools, with the official announcement expected on Tuesday.
AB Capital Investment has acquired the 161-room Residence Hotel Stripe Sapporo, adding a 15th hospitality property to its Japan portfolio. The apartment-style hotel near Hokkaido University and JR Sapporo Station will be refurbished and repositioned under an operating partner.
Keppel DC REIT and its sponsor Keppel Ltd are acquiring a 90% interest in two hyperscale data centres in Greater Tokyo from a joint venture of GIC and Equinix. The deal values the properties and their operating company at JPY 190 billion ($1.2 billion), with GIC selling its full 80% stake and Equini
Ares Management has raised ¥612 billion (US$4 billion) for its fifth Japan logistics development fund, the unit's largest closed-end institutional fundraise. The fund, Japan Logistics Development Partners V LP, closed at its hard cap and is nearly 50 per cent larger than its 2021 predecessor.
Universal Studios Japan plans to spend ¥200 billion to ¥300 billion (S$1.26 billion to S$1.88 billion) to build new attractions on a 60,000 sqm site adjacent to the park, the Nikkei newspaper reported on 28 Aug. The expansion, the park's first since opening in 2001, aims to lift annual attendance be
Yuchecngo-led PetroEnergy Resources Corp. (PERC) will sell a 35% stake in PetroWind Energy, Inc. (PWEI) to Japan's SMFL Mirai Partners for P1.7 billion. The deal comes weeks after PERC completed its acquisition of former partner BCPG's stake in the Nabas wind farm operator. PERC will retain a 25% st
Orix JREIT is paying ¥29.4 billion ($185 million) for a half-stake in Toyosu Prime Square in Tokyo and ¥10.6 billion to take full ownership of the Naha Shin-Toshin Center Building in Okinawa. The two acquisitions total ¥40 billion and are expected to enhance unitholder value, the trust's manager sai
Gaw Capital Partners’ GCP Hospitality will manage 14 hotels in Kyoto under a deal with IHG, adding more than 1,000 rooms to the group’s Japan portfolio. Twelve properties will convert to IHG’s Garner midscale brand, with one Holiday Inn Express and one unbranded hotel included. The hotels are set to
Japanese developer Hulic Co Ltd has confirmed it is the buyer of an eight-storey office building in Ginza from Singapore-listed Keppel REIT for JPY 11.5 billion (S$72.4 million). The deal, which marks a 28.4 per cent premium to Keppel REIT's November 2022 purchase price, ends the trust's four-year p
