The Japanese Minister in charge of economic security, Sanae Takaichi, has called for the postponement of the 2025 Osaka-Kansai Expo. 

Tokyo based real estate investment fund Mori Trust has acquired the Fairfield by Marriott Osaka Namba hotel from investment firm PAG in a strategic move ahead of a projected tourism boom.

The governor of Osaka Prefecture stated on Wednesday that they are considering implementing a fixed fee for foreign visitors, potentially aligning it with the commencement of the World Expo in western Japan in April 2025.

According to the Japan Times, preparatory works for developing the Yumeshima artificial island in Osaka Bay started less than 500 days before the expo is due to open in spring, 2025.

The Osaka prefectural and municipal governments announced on Tuesday that the opening of MGM's casino resort on Yumeshima artificial island in Osaka Bay has been postponed to the autumn of 2030. This delay is attributed to the protracted process of gaining central government approval and an unexpected surge in construction material costs.

Although construction on the Osaka integrated resorts (IR) is likely to begin next year, with the launch planned for 2029, Japan's second-largest city is already reaping the benefits of attracting foreign investors to its real estate market.

The newly re-elected Osaka governor has reassured that years of delay to the plans for Japan's first casino resort will not cause significant detriment in the long run.

Japan’s Prime Minister, Fumio Kishida has stated that Osaka’s integrated resort effort is “an important initiative in promoting a tourism-oriented country. We have been reviewing the certification by the established review committee, and have received reports that it is in the final stages”.

MGM Resorts and Orix Corp.'s $9 billion Osaka IR in are in line with what the government had envisaged. Wakayama has officially approved Clairvest Neem Venture’s plans to develop an integrated resort in the city.

Once the most hotly anticipated IR development, prospects for the Osaka Yumeshima development are ice cold. Our AGB Nippon weekly piece will examine four major factors that killed Osaka’s IR momentum.