Insights and analysis on the Japan market.
An MGM Resorts and Orix consortium has been confirmed as the developer and operator of Osaka’s integrated resort/casino. A large site on Osaka Bay has been earmarked for the project which is expected to provide a major boost for Osaka’s economy and tourism industry.
WeWork Japan is pivoting from directly leasing and operating coworking space to a hotel-style management-only structure to continue its growth in Japan. It currently has 38 locations across the country and the new strategy could pave the way for up to 200 locations.
Pandemic-hit Japanese travel company JTB Corporation has sold its HQ building near Tokyo Bay after posting a record loss earlier this year. The company will continue to lease back the premises from the purchaser. More major sale-and-leaseback transactions in the office sector in Tokyo are expected to be announced in the coming months.
After years of drama, the new mayor of Yokohama has ended all hopes of an integrated resort/casino being built there for the foreseeable future. Many had hoped the integrated resort would aid the further development of Yokohama’s economy, and create another major drawcard for visitors to the Greater Tokyo area.
As the Olympic Games get underway in Tokyo, take a closer look at Kengo Kuma’s masterpiece – the new Japan National Stadium - which will be the centre of the action over the coming weeks
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