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Hong Kong Real-estate Developer Plans Large Accommodation Facility in Niseko

Hong Kong-based HKR International Ltd. (Victor Cha, Executive Chairman) is planning to build a large-scale accommodation facility in the Soga District of Niseko Town. The conglomerate engaged in real-estate development aims to start civil works in September 2022 and complete construction of the buildings in 2024. The contractor for this project will be decided at a later time.

The construction site is located at Soga 236-1, Niseko, which is approximately four kilometers southeast of Niseko Annupuri Ski Area.

This will be the first project for the company to develop an accommodation facility in Japan. The plan features 98 units in five condominium buildings with four to six floors above ground and one basement floor, and 11 two-story villas on the 6-㏊site. All units will be available for sale. Including spaces for stores, restaurants, hot springs, and fitness gyms, the total floor area will be approximately 38,000 m2.

HKRJ Development, which was established by HKR Japan under the umbrella of HKR International, is the owner, while Yamashita PMC Inc. serves as the project manager. Asai Ken Architectural Research Inc. is responsible for the design.

According to a representative of HKR Japan, they are currently in negotiations with a global luxury hotel brand regarding operation of the accommodation facility. The representative commented, “We have been planning this development for about 10 years, and hope to provide an all-season resort for the post-COVID-19 era.”

The establishment of HKR International can be traced back to Hong Kong Resort Company Ltd., which was founded in 1973 and listed on the Hong Kong Exchanges and Clearing in 1989. In addition to the development of Discovery Bay resort housing, which covers an area of one million square meters in Hong Kong, and a condominium in Tokyo’s Roppongi district, it has been involved in real-estate investment and asset management in several Asian countries.

(Excerpt from an article on December 1, 2021)

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