On Jul. 8, redevelopment of the Old Daimyo Elementary School near Tenjin began as a key component of the City’s Tenjin Big Bang project. A new special purpose company (SPC) with five investors including Sekisui House and Nishi-Nippon Railroad will invest ¥50 billion in the redevelopment effort. The site will be home to The Ritz Carlton Fukuoka, a luxury hotel operated by U.S.-based Marriott International, along with a 25-story building featuring commercial facilities, offices, and shared office space for IT entrepreneurs. Construction is slated for completion in December 2022. The project aims to address the growing demand among foreign companies aiming to get a foothold in Fukuoka. Source: fiba.jp
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