Marimo to Develop Mixed-Use Office Building in Naha, Okinawa

Marimo Co., Ltd. will develop M.BALANCE Naha Kencho-mae, a mixed-use office building, in Kumoji, Naha, Okinawa Prefecture. The property broke ground in July 2025 and is scheduled for completion in February 2027. Architectural design is being handled by HOKULEA Inc., an Okinawa-based firm that has participated in the development of multiple hotel projects.

The property is a 14-story building with a gross floor area of approximately 2,214 tsubo (approx. 78,800 sq. ft.). Floors 1 through 3 will house restaurant and other retail tenants, while floors 4 through 14 will be occupied by office tenants. Part of the interior will use a plaster material that incorporates bagasse, a sugarcane waste byproduct, and terraces are planned for some office floors. The property is a two-minute walk from Kencho-mae Station on the Okinawa Urban Monorail Line, in central Naha, an area concentrated with government offices, financial institutions, hotels, and commercial facilities, and close to Kokusai-dori Street.

The office vacancy rate in Naha remained in the 3% range through February 2026, but has risen to approximately 7.9% as of the end of June 2026 following a series of new supply exceeding 2,000 tsubo in gross floor area since March, including S-GATE Naha Shintoshin, MipLa Omoromachi, and GRG Naha Shintoshin ET Building (research by the editorial team based on estie office research; see related article: Sankei Building Completes Office Building in Naha, Okinawa Prefecture). In Okinawa Prefecture, corporate headquarters relocations are progressing amid initiatives to attract businesses, and according to Tokyo Shoko Research, the prefecture has seen a net inflow of corporate relocations every year from 2021 through 2024, suggesting that vacancy absorption driven by relocation demand may continue over the medium to long term.

Key Facts

• Property Name: M.BALANCE Naha Kencho-mae
• Developer: Marimo Co., Ltd.
• Location: 3-20-1 to 13 Kumoji, Naha, Okinawa
• Nearest Station: Two-minute walk from Kencho-mae Station on the Okinawa Urban Monorail Line
• Construction Start: July 2025
• Completion: End of February 2027 (planned)
• Number of Floors: 14F (steel-frame construction)
• Site Area: approx. 277 tsubo (approx. 9,900 sq. ft.) / Gross Floor Area: approx. 2,214 tsubo (approx. 78,800 sq. ft.)
• Leasable Unit Sizes: approx. 28 tsubo (approx. 1,000 sq. ft.) to approx. 165 tsubo (approx. 5,900 sq. ft.)
• Parking: 40 spaces
• Architectural Design: HOKULEA Inc.
• Construction: Uejo Kogyo Co., Ltd.