Last Update: 01/26 2021 06:00 JST

Hulic to develop PPP project building in Sumida-ku

Hulic will start development of a rental office building in Kinshicho, Sumida-ku. It is a public private partnership (PPP) project utilizing the former site of Kinshi Civil Engineering Office owned by Sumida Ward.

PGIM acquires six apartment buildings for Y12.5bn

PGIM Real Estate acquired a portfolio consisting of six rental apartment buildings in Tokyo and Yokohama. The buildings offer a total of 353 residential units. The price was $120 million.

Ivanhoé Cambridge and PAG establish logistics JV

Ivanhoé Cambridge, which is a Canadian public pension fund management institution, and PAG of Hong Kong established Japan Logistics Venture, which is a joint investment fund targeting Japanese logistics facilities.

Sekisui House REIT to acquire three Nagoya apartment buildings

Sekisui House REIT will acquire three apartment buildings in Nagoya City. The total acquisition price is...

Itochu revises Tokyo headquarters relocation plan

Trading firm Itochu announced that it is canceling its Tokyo headquarters move to Kamiyacho Trust Tower in Toranomon, Minato-ku, which had been scheduled for fiscal 2021.

Prologis REIT to acquire three properties for Y62.2bn

Nippon Prologis REIT will acquire three logistics facilities. The sale contract was concluded on January 20 for a total acquisition price of 62.2 billion yen [$590 million].

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WHAT'S IN THE MONTHLY REPORT: JANUARY 2021

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Local Markets: Fukuoka

Deregulation for Regeneration

City grants more FAR, pushes developers to design 'corona-free' buildings
While the spread of the coronavirus (Covid-19) infection is having an impact on the economies across Japan, a new initiative that induces building developments resistant to viruses was launched in Fukuoka City. The city aims to realize a "city prepared for infectious diseases," and to use it as an incentive for the attraction of new businesses. Investment needs in real estate in Fukuoka remains high even amid the Covid-19 crisis. Especially, moves to develop logistics facilities are becoming active and the investment areas are expanding.
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