Market Snapshot: Asia Pacific 2025
The Market Snapshot: Asia Pacific 2025 highlights an overview of transaction activity in the region and presents 24 markets’ current hospitality landscape; each covering demand and supply dynamics, hotel performances, and key transactions. To view and download the full article, please click here.
KDXR Acquires Hotel JAL City Nagoya Nishiki for JPY7.42 Billion in Nagoya, Japan
Kenedix Real Estate Fund Management, Inc., the asset management company of Japan-based KDX Realty Investment Corporation (“KDXR”), has acquired the 216-key Hotel JAL City Nagoya Nishiki for JPY7.42 billion. This translates to approximately JPY34.35 million per key. Completed in 2018, the property spans approximately 1,063 square metres (“sqm”) with a total gross floor area of about 9,065 sqm. The building is 14 storeys tall, including a basement level. Facilities include one food and beverage outlet and a currency exchange machine. The hotel is currently operated by Japan-based Okura Nikko Hotel Management Co. Ltd. Located in the Naka ward of Nagoya, the property is a 7-minute walk from Fushimi Station on the Nagoya Municipal Subway and a 15-minute walk from Nagoya Station.
Dai-ichi Life Enters Apartment Hotel Sector with JPY4.1 Billion Investment in Tokyo, Japan
Japan-based The Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) has entered the apartment hotel sector with a JPY4.1 billion investment. The investment was made in a company established by a real estate fund managed by Marubeni Asset Management, a Japan-based asset manager, with an aim to acquire MONday Apart Premium Akihabara. Located in Tokyo’s Chiyoda Ward, the property is a 27-key apartment hotel built in 2020, with a gross floor area of approximately 1,270 sqm across 10 storeys. The asset is situated within a five-minute walk of Akihabara Station on the Tokyo Metro Hibiya Line, and a seven-minute walk from both JR Akihabara Station and JR Asakusabashi Station, offering connectivity to central Tokyo and surrounding areas. This move marks Dai-ichi Life’s entry into the hospitality-related real estate sector, reflecting growing institutional interest in alternative real estate asset classes.
Hong Kong-based Centaline Investment Advisory Company Limited (“CI”) has acquired the 94-key Bonham Residence from the Hong Kong Young Women’s Christian Association (“YWCA”). Market sources indicate that the transaction was completed for HKD335 million, translating to approximately HKD3.56 million per key. Occupying a site of around 392 sqm, the property was initially launched for sale in May 2024 with a market valuation of about HKD400 million before being sold in August 2024. Following the acquisition, CI plans to rebrand and convert the property under its student housing brand, CampusOne Communities. CI will invest an additional HKD60 million to refurbish and upgrade the asset into a modern student residence offering approximately 200 beds. CI has acquired the 63-key Popway Hotel in 2024 for HKD180 million, and rebranded it as One Pace 117 as a student housing development with 121 beds.
Naumi Hotels Debuts in Middle East with the Acquisition of the former dusitD2 Kenz in Dubai, the United Arab Emirates
Singapore-based Naumi Hotels has made its debut in the Middle East with the recent acquisition of the former dusitD2 Kenz in Barsha Heights, Dubai, marking the group’s first property in the region. Located steps from Dubai Internet City Metro, and within 10 minutes of Mall of the Emirates and 15 minutes of The Palm, Naumi Hotel Dubai will undergo an extensive transformation and will feature 237 rooms and suites, two restaurants, a spa, rooftop pool, fitness centre, and meeting facilities upon completion. Established in Singapore in 2007, Naumi Hotels has grown into a boutique hospitality brand known for its bold design, personalised service, and contemporary style, with a portfolio of eight properties across Singapore, New Zealand, Australia, and now the United Arab Emirates.
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