Osaka IR Land Lease – Determining Higher Prices

Osaka Mayor Ishiro Matsui recently held a regular press conference to announce that at least three of the four companies that want to be included in the real estate appraisal list have agreed to rent the land that Osaka IR is set to bid for.

The Osaka Port Authority already told the media on December 15 that it had not informed the contractors of the price agreement, and that the companies had formed an opinion on the lot because there had been no positive business performance in the past.

It said it was a “large commercial facility complex,” and three of them agreed that the rent should be 428 yen, which is US$3.15 per square meter, while the light industrial district with real estate has half the rent per square meter.

It plans to lease 49 hectares to Yumeshima. The rental plan is currently designed over the next 35 years, with annual rent of 2.5 billion yen and US$18.4 million. 카지노사이트존

At the press conference, Mr. Matsui explained, “The land was not subject to sale in the first place,” adding, “The sale price was calculated only based on rent pricing.” You can’t set the rental amount without knowing the value of the land value. IR operator asked not to lease and sell IR site, and said initial investment wants to be building, not land

There was a question about the price increase, saying it was not much lower than Universal Studios Japan should pay. The market said, “When USJ was first pitched, rent was low, and it rose with USJ’s growth. “We will not sell the land of Yume Shima, but rent it,” he said. “I think prices will rise with the market over the next 10 to 20 years.”

First, I’ll make the land attractive. Same with USJ. As the location becomes a central gathering point, the value of the land will increase. However, the initial basis must be assessed at the appraisal office. It’s still not affected by the market.”

The major added that the decision was neither directed by the government nor personal, and that if there were any problems in this regard, the major would personally take responsibility and waive the full annual compensation, and punish those responsible for the breach.

In April, an IR development plan created by the Osaka Prefecture was submitted to the central government, and the plan was decided with the help of MGM Resorts and ORIX, and is currently awaiting approval from the government. According to the plan, it will open in the fall or winter of 2029.

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