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JAPANESE TOWER PLAN DELAYED BY TELEWORK TREND

A trend toward teleworking brought about by the COVID-19 pandemic has delayed construction of a 400-m-long, 30-story building in Nagoya, Japan, Japan Property Central reported in November. Planned by Nagoya Railroad, the mixed-use structure was originally slated to start construction in 2022, with completion anticipated in 2027, but the tentative plan now is to start construction in 2024. Its design and scale may also change, the source said. The area around Nagoya Station has seen high-rise office buildings proliferate since the 2000s, but vacancy, “even in prime buildings,” has noticeably increased since the start of the pandemic. In October, the vacancy rate stood at 4.08%.

Image credit: (c) Meitetsu Group

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