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Hong Kong Real Estate Investment Company to Construct Four New Buildings, Including Hotels, in Iwaobetsu, Kutchan

Hanamason (headed by Jason Sze), a Hong Kong-based real estate investment company, plans to construct four hotel and condominium buildings in the Iwaobetsu district of Kutchan Town. Land development is slated to begin in January 2023, and the entire project will be completed in December 2026. The contractor will be decided at a later time.

The name of the project is the Hanamason Project. The proposed development site covers an area of 11,435 m2 at 293-4 Iwaobetsu, approximately 600 m east of the Niseko HANAZONO Resort.

Civil engineering work is scheduled for completion in December 2025, including hot spring excavation and tree planting after the buildings are completed.

Construction of the buildings, composed of two hotels and two condominiums, is expected to begin in May 2023. Connected to each other by a corridor, the four buildings will be four-story RC structures, two of which will have basements. The total floor area will be 16,214 m2 with 105 guest rooms. The architectural design is being undertaken by Peter Hahn Associates.

According to Hsinyao Hsu, developments director at Niseko Alpine Developments (191-54 Yamada, Kutchan), which is in charge of project management, the project targets affluent customers in Japan and abroad. The hotels will be developed in cooperation with well-known foreign operators.

In the surrounding area, a series of development plans for hotels, villas, and other lodging facilities, mainly funded by Hong Kong and Singaporean capital, have emerged. In anticipation of a recovery in tourism demand in the post-COVID-19 era, investment is accelerating while also taking into account the town’s move to tighten development regulations.

(Excerpt from an article on September 9, 2022)

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