Businesses in Japan opt to renovate aging facilities, not build new ones

WASHINGTON: A growing number of businesses are choosing to renovate aging office buildings and commercial facilities to avoid the trouble of rebuildin...

WASHINGTON: A growing number of businesses are choosing to renovate aging office buildings and commercial facilities to avoid the trouble of rebuilding or constructing new facilities.

The trend has increased due to a shortage of locations, longer construction periods and the soaring costs involved in new construction.

Businesses are turning to renovations to alleviate these concerns while being able to change the use of the buildings and improve their functionality.

Major real estate company Mitsui Fudosan acquired and renovated the building that housed the former Sogo Kawaguchi department store in Kawaguchi, Saitama Prefecture. The building, located in front of JR Kawaguchi Station, closed in February 2021 and later reopened as LaLa terrace Kawaguchi, a new commercial facility, on May 31.

The renovation work, which mainly focused on the interior, took about 10 months. The marionette clock and marble pillars at the entrance, which had become familiar to residents, were retained. If the company chose to rebuild the facility completely, it would have taken three to four years to complete.