Singapore’s Hotel Properties Partnering on a Japanese Hotel and Condo Development

Main Photo: Tokyo Tatmono logo

Date: March 2019

Location: Osaka City, Japan

Name: TBA

No. of Keys: 180

Seller: The project is on a freehold site at 17-5, Dojima 2-chome, Kita-ku,
Osaka-shi, Osaka City, Japan and is currently owned by Tokyo Tatemono.

Tokyo Tatemono is a leading Japanese real estate company listed on the Nikkei 225.
Founded in 1896, Tokyo Tatemono has its headquarters in Tokyo. The Tokyo
Tatemono group develops, sells, and manages commercial buildings and facilities,
condominiums and houses.

The company is also involved in the development of hotels, leisure centres, vacation facilities, golf courses, and restaurants.

Buyer/Partner: JV between HPL and Tokyo Tatemono Co.

HPL will invest SGD257m for 75% of the hotel, and 25% of the 450 apartments. Subject to approval, the proposed 50 storey development could be completed within five years.

The Hotel Investment and the Condominium Investment would amount to
approximately Yen 20.85 billion (approximately S$257 million).

Both the hotel and the condominium components will be developed under a
proposed mixed development project with a total gross floor area of about
80,000 square metres located on

The proposed investments will enable the HPL Group to expand its hotel and
residential property portfolio to a new market in a major international destination in
Japan.

Osaka City is Japan’s second largest metropolitan city after Tokyo, with a population
of over 2.7million people in its greater metropolitan area. It is the central metropolis of
the Kansai region and the largest of the Osaka-Kobe-Kyoto region. The main international gateway to Osaka is Kansai International Airport.

Two other existing international hotels in the vicinity of the Dojima Site are The RitzCarlton Osaka, Hilton Osaka, Intercontinental Osaka, ANA Crowne Plaza Osaka,
Conrad Osaka and The Westin Osaka.

The Dojima Site is located near to the Umeda Station, It is also approximately 15-
minute walk to Osaka Station and within 5-minute walk to Nishi Umeda Station.
Umeda / Kita district is also the transport and business hub of the city.

Osaka Station and Umeda Station, effectively part of the same massive complex, together
constitute the busiest station in Western Japan and one of the busiest railway
stations in the world.

In November 2018, Osaka was officially selected as the host of 2025 World Expo.
The expo will be held in the westernmost part of Osaka in Yumeshima, a man-made
island in Osaka Bay.

The Integrated Resort Act of Japan – which legalises casino gambling in designated
integrated resort areas – was passed by the National Diet of Japan in July 2018.

Osaka City is reported to be one of the leading contenders for the award of licenses
for development of Integrated Resort.

THPT Comment: HPL has been active of late…interesting to see their move into Japan.

First Seen: HPL website

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