Last Update: 08/04 2021 06:00 JST

NTT Urban developing large office building along Osaka’s Midosuji Boulevard

NTT Urban Development started construction of Urbanet Midosuji Building on a site along Midosuji Boulevard in Osaka City. The structure will have 21 floors above ground and two below with 42,362 m2 of gross floor area.

Singaporean company becomes largest Tokyo Trust Capital shareholder

Minato-ku-based Tokyo Trust Capital (TTC) received investment from Singapore’s TE Capital Partners in July 2021. TE Capital will support TTC’s growth alongside its existing shareholders such as Minato-ku-based MA Platform, which is chaired by Mori Trust chairman Akira Mori.

Sekisui House REIT to reshuffle assets, transactions worth Y38.3bn

Sekisui House REIT decided to acquire five relatively new apartments in Tokyo for 21.2 billion yen [$190 million] and sell nine apartments in major cities throughout Japan for 17.1 billion yen [$150 million].

M&A Capital Partners moving to Tokyo Midtown Yaesu

M&A Capital Partners will relocate its headquarters to Tokyo Midtown Yaesu A-1 Block, which is under construction in Yaesu, Chuo-ku. A tenant of the building was disclosed for the first time.

Tokyu REIT to sell Daikanyama retail facility for Y4.2bn

Tokyu REIT, which is sponsored by railway operator Tokyu Corporation, will sell a retail facility in Sarugakucho, Shibuya-ku. The sales price is 4.25 billion yen [$38 million]. The buyer is...

Dai-ichi Frontier Life to relocate to Hibiya Fort Tower

The Dai-ichi Frontier Life Insurance will relocate its headquarters to Hibiya Fort Tower in Nishi-Shimbashi, Minato-ku. With this relocation, it will promote...

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WHAT'S IN THE MONTHLY REPORT: JULY 2021

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Local Markets: Osaka

Betting on Demand Bounce

Investors not concerned even by signs of potential land price collapse
Having lost inbound consumption, a pillar of its economy in recent years, Osaka is under quasi-state of emergency declaration and its Minami area has fallen quiet, also losing domestic visitors. Despite this, some particularly opportunistic foreign funds have started acquiring hotels and retail facilities, predicting that demand will return. On the other hand, most office tenants are in a wait-and-see mood, so relocation and expansion are sluggish in the office market.
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