2025 World Expo to be hosted on the artificial island of Yumeshima in Osaka, one of the top candidate sites for IR developments
Wednesday November 28, 2018
On Friday, November 23rd, Osaka was selected to host the 2025 World Exposition, with the main theme of focusing on designing a future society with the help of health and medical technologies.
Following the exciting news for Osaka, Osaka Mayor Hirofumi Yoshimura stated about his plan to propose to the city assembly a supplementary budget worth 14 billion yen ($124 million) to prepare for the World Exposition in 2025. The extra budget will be used to set up infrastructure on the planned venue of the expo, the artificial island of Yumeshima in Osaka Bay area. Yumeshima is about 10 km away from the center of Osaka, and about 60 minutes drive from Kansai International Airport.
This is anticipated to accelerate the regional infrastructure developments both in planned site of Yumeshima and the rest of Osaka, which will create more investment and development opportunities in the hospitality and real estate sectors in the city. The government expects a total of approximately 28 million visitors to be attracted to the expo, which is estimated to help boost local economy by about 2 trillion yen ($17.7 billion).
The planned expo site of Yumeshima is also one of the top candidate sites for future integrated resort (IR) developments. Earlier this year, Osaka government announced the estimated values for integrated resorts in Yumeshima, visualising its positive economic impact on the city. The government noted 1.3 trillion yen ($11.8 billion) economic benefits for the IR’s overall development stage and 630 billion yen ($5.6 billion) a year for the operation stage. Additionally, Osaka Government and Kansai business community are putting joint efforts to make Yumeshima become a new global tourism hub. With high potential for economic growth, expected further growth in tourism sector and the upcoming expo in 2025, Yumeshima now is enjoying more competitive advantages and higher chance to become one of the first IR sites.
However, with the future expo site to be developed on Yumeshima Island, it could become good news to some IR operators/developers while bad news for some others. As each IR operator/developer has different plans on the scale, role and partnership structure for their developments, the developments of expo pavilions will have different impact on the planned scenarios for different operators.
Upcoming Events with Asterisk:
Asterisk will be hosting a luxury hospitality seminar in the coming January, inviting policymakers and market leaders to share about the market trends and opportunities in resort investments and IR developments in Japan. Further details on the seminar will come soon.
To view our past seminars, please see below:
Snow Resort Opportunities in Japan Inbound Luxury Hospitality Seminar Part I (2018.10.09)
Luxury Branded Residence and Integrated Resort Seminar Part III (2018.07.11)
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About Asterisk Realty & Placement Agency
Asterisk is a private fund placement agency for global alternative in Japan. Through our unique and extensive network of Japanese investors, we support global fund managers in accessing Japanese and Asian institutional investors (pensions, financial institutions, real estate developers, other business companies, etc.). We provide access and strategies for overseas fund managers to bridge the gap between them and Japanese investors.
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