Capella Niseko to launch sale here
By NISHA RAMCHANDANI
(SINGAPORE) The luxury 149-unit Capella Niseko Resort and Residences in Hokkaido will be launched for sale here on Friday.
Valley deep, mountain high: The freehold residences are set on 32 acres of greenery close to popular Hokkaido ski destination Annupuri-Niseko Mountain, and are expected to be completed in 2012
Set on 32 acres of greenery and close to popular ski destination Annupuri-Niseko Mountain, the freehold residences - which comprises 94 apartments, 36 houses and 19 villas - are expected to be completed in 2012. Construction is to start around April next year.
Capella Hotels and Resorts has come on board as the operator and renowned Japanese architect Tadao Ando will design the project.
The 67-room Capella Niseko resort will be a full-service hotel, including a Village Centre that offers fine dining, bars and a spa.
Property developer Annupuri Land said that about 20 residential units have been taken up so far - with the majority of buyers from Hong Kong - and it hopes that the rebounding economy will spur sales.
‘The timing is right. The Asian economies are taking off again,’ said Annupuri Land co-founder Harry Pang.
The entire project will cost some US$220 million, while the residences are in the range of US$1 million to US$5 million.
Mr Pang also reckoned that buyers can net an estimated 4-5 per cent yield annually from renting out their residences when they are not in use. ‘There’s a lot of potential for upside,’ he said.
Besides skiing, the Niseko region also offers other recreation such as golf, horseback riding, whitewater rafting and hiking. It is accessible by rail and road as well as by direct international flights. For instance, Singapore Airlines runs a direct flight to Sapporo, which is 120 km away.
‘It is a rare opportunity for potential buyers looking at investing overseas. Buyers will not only be able to appreciate the work of master architect Tadao Ando and enjoy the luxury provided by the Capella Group but also take in the fineness of the Annupuri-Niseko Mountain and its surroundings,’ said Jones Lang LaSalle (JLL) head of residential, Jacqueline Wong.
JLL is the sole marketing agent for the residences, and Peter Silling & Associates is in charge of the interior design for the project.
Source : Business Times - 05 November 2009
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