Hongkong Land eyes billion-dollar property deals in Japan

Otemachi Place in Tokyo. Hongkong Land has approached Hulic over its stake in Otemachi Place as part of a move to enter Japan’s resurgent property market. | BLOOMBERG

BLOOMBERG

Sep 3, 2026

One of Hong Kong’s biggest landlords is in talks to enter Japan’s resurgent property market as part of parent Jardine Matheson’s pivot toward becoming an investment firm, people familiar with the matter said.

Hongkong Land Holdings is targeting deals over $1 billion for mixed-use complexes with high-end office, retail and hospitality spaces in prime Tokyo locations, the people said, asking not to be identified discussing private matters. But the company has struggled to secure the right property or a suitable co-investment partner at what remains a challenging time in Japan’s investment cycle, they said.

Hongkong Land has approached Blackstone and Hulic regarding their respective assets — Tokyo Garden Terrace Kioicho and Otemachi Place, some of the people said. Both properties are centered around an office skyscraper in Tokyo’s central business districts and carry multibillion-dollar valuations, the people said.

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