Last Update: 11/24 2017 17:20 JST

Kajima takes on $400m urban development project in Myanmar

General contractor Kajima signed up for a 45 billion yen [$398 million] urban development project in Yangon, building offices, hotels and other facilities in bringing its city planning expertise to Myanmar. A contract with the Ministry of Construction was inked Saturday, November 18. The build-operate-transfer arrangement will give the Japanese company control of the facilities and land for up to 70 years. >>

Airbnb probed for antitrust violations in Japan

Airbnb is under investigation in Japan for possibly breaching antitrust law, suspected of making agents for hosts promise not to use rival home-sharing platforms.>>

Osaka office building sold from Hong Kong company

Osaka-based real estate company Legal Corporation acquired Umeda Pacific Building, an office building in Kita-ku, Osaka City. The transaction took place in September 2017. It is believed the buyer will lease the building as a multi-tenant building for the time being. The seller was a company based in Hong Kong. >>

Mitsubishi purchases land for nursing home development in Konan, Minato-ku

Mitsubishi Jisho Residence purchased 1,653 m2 of land in Konan, Minato-ku. The transaction took place in October 2017 and the seller was real estate company Okiken of Suginami-ku. Mitsubishi Jisho Residence plans to construct a fee-based nursing home for the elderly on the site.>>

Stream Capital acquires Shinbashi building to be occupied by WeWork

It has come to light that a special purpose company of Minato-ku based Stream Capital Partners Japan had acquired the former DTS HQ Building in Shinbashi, Minato-ku. The seller was Midori TMK, an SPC. It has been decided that the entire property will be leased to U.S. WeWork, which operates collaboration offices, as the successive tenant. WeWork plans to open a collaboration office named WeWork Shinbashi in April 2018. >>

WHAT'S IN THE MONTHLY REPORT: NOVEMBER 2017Past Monthly Reports

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Area in Focus

Luxury of Brands

Ginza transaction prices hover yet rents remain flat

Ginza is creating an even more bustling atmosphere due to the opening of Ginza Six. However, the demand of luxury brands to open stores seems to be slightly decreasing and the rent of retail stores remains flat at a high level. New kinds of retailers such as drug stores and cosmetic shops have appeared, but their contribution still has not reached a level to make the rent turn upward. Even in transactions of land and buildings, the transaction prices along main streets also remain high. >>

Transactions: 3Q 2017 | Occupier Market | Market Knowledge | Deals Roundup | Relocation Update | News Digest

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