Osaka City has set a minimum sale price of JPY92.113 billion ($595 million) for a 42-hectare development site next to the MGM Osaka integrated resort, with the planned project expected to complement the neighboring casino resort.
The price was published on September 14th as part of the selection process for a private developer of Yumeshima’s Phase 2 area, which formed part of the former Osaka-Kansai Expo site, according to the Osaka City government.
The land being offered for sale covers 420,062 square meters and is designated for commercial use within an international tourism district. A further 4,012 square meters will be leased to the selected developer.
Phase 2 is separate from the MGM Osaka project, which is being developed in the neighboring Phase 1 area. However, Osaka’s master plan includes an “IR collaboration zone” intended to introduce facilities that generate synergies with the integrated resort and the planned Expo memorial park.
The wider Phase 2 plan calls for large-scale entertainment and recreation facilities, together with commercial, exhibition and other functions supporting Yumeshima’s development as an international tourism destination.
The developer will be selected through a two-stage process covering project plans and price proposals. Applications are due between January 12th and 15th, 2027.
Proposals meeting the required standard will advance to the price review on February 17th. The applicant submitting the highest offer at or above the minimum price will be named the prospective developer.
