NTT Docomo Sells 2 Tokyo Land Plots for $371 Million as Japan Property Booms
Updated
Updated · Bloomberg · May 25
NTT Docomo Sells 2 Tokyo Land Plots for $371 Million as Japan Property Booms
1 articles · Updated · Bloomberg · May 25
NTT Docomo sold two central Tokyo land plots for about 59 billion ($371 million), marking another large transaction in Japans surging real estate market.
Around 50 billion came from the sale of land around a building in Hitotsubashi, Chiyoda Ward, to Sumitomo Corp., according to land registry records and people familiar with the matter.
About 59 billion came from selling land under a building in Shinjuku to Japan Post Real Estate Co., while Docomo retained ownership of both buildings.
The structure of the deals lets Docomo monetize high land values without giving up the properties themselves, underscoring how owners are tapping Tokyos property boom.
As Docomo sells prime land to fund its 6G future, is Tokyo's real estate market nearing its peak?
Why are Japan's corporate giants suddenly selling their most valuable real estate after decades of holding it?