Mori Trust purchases second property in prefecture
Mori Trust Co., Ltd., one of the largest real estate developers in Japan that specializes in hotel and urban-development projects announced the purchase of 7,338 square meters of land on Irabu Island off Miyako.
The company is planning to open a luxury resort hotel on the site in 2019.
Mori Trust Co. bought the land on Jan. 15th from Miyako LaLa Resort Co. that had owned and managed the land. This is the second deal for Mori Trust to purchase land in Okinawa Prefecture for a hotel project after it bought a defunct hotel development site on Sesoko Island in Motobu Town at the end of last year.
Company officials say the details of the project, such as the hotel size or construction starting date on the Irabu property have yet to be determined.
The Irabu Big Bridge between Miyako Island and Irabu Island has gained national attention since it opened in January last year, and it is expected to attract tourists from home and abroad to the pristine beaches of Irabu Island.