Kasumigaseki Capital Acquires Hotel Development Site in Naha, Okinawa
In June 2025, Kasumigaseki Capital acquired a hotel development site in Higawa, Naha City, Okinawa Prefecture, with a site area of approximately 1,100 sqm (approx. 11,840 sq. ft.). The site will be held as inventory property, and the company is considering developing one of its group-travel-oriented brands, such as “FAV HOTEL” or “FAV LUX.”
Located near the city center of Naha, the property offers excellent accessibility to both domestic and international tourist demand. As of June 2024, monthly visitor arrivals to Okinawa had recovered to 748,000, up 12.8% year-over-year. Inbound tourism from Greater China has also shown signs of recovery in 2025. With increasing demand for room configurations that can accommodate group and family travelers, Kasumigaseki Capital aims to capture this market segment. While the building scale and opening timeline remain undecided, the company plans to utilize its in-house operating platform to handle post-opening management.
Kasumigaseki Capital is currently pursuing hotel development projects at 30 locations nationwide. Including this latest acquisition, the firm now has four projects (operating or under development) in Okinawa. In Ishigaki Island, the company is preparing to open the 121-room resort “seven x seven Ishigaki” in fall 2025. It is also planning two large-scale projects in Miyako Island: the “Miyako Irabu Island Hotel Project” and the “Miyako Nishihama Beach Hotel Project,” with the former spanning 22,700 sqm (approx. 244,300 sq. ft.). These initiatives underscore the company's growing pipeline in the Okinawa region.
Key Facts
Project Name: Naha Higawa Hotel Project
Developer: Kasumigaseki Capital Co., Ltd.
Transaction Price: Undisclosed
Location: Higawa, Naha City, Okinawa Prefecture
Site Area: Approx. 1,100 sqm (approx. 11,840 sq. ft.)