Yesterday, Tokyo-based Lead Real Estate said it would develop condominiums and hotels ahead of the Japan Olympics 2020 by using funds raised through issuing security tokens. The company which was founded in 2003 plans to issue digital tokens for upcoming properties in Ginza, Shinjuku, Shibuya, Ebisu, Shinagawa, and Meguro using the Securitize platform
Last year, the
Nikkei reported that Tokyo’s real estate market was booming due to the scheduled summer Olympics in 2020. It cited rising rents and inflow of foreign capital as the reason for the boost in real estate prices.
“The fluctuating real estate market in Japan (yields in urban areas were 3-10%) and the negative interest rate, a Japanese political measure, maximized the appeal of Japanese real estate with the 2020 Olympics games coming around the corner,” Lead Real Estate said in the announcement.
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