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AP Land launches Shiki niseko

KUALA LUMPUR: AP Land Bhd on Friday, Oct 29 launched Shiki niseko, its first mixed-development project in Japan.

"This is considered the Aspen of the East and is targeted to high net-worth individuals," said Low Su Ming, joint managing director of AP Land after the official media presentation.

"Malaysians will fall in love with this place for the culture, food and lifestyle as well as discover a part of Japan apart from its cities and to experience one of the top ski resorts in the world."

altShiki niseko is situated on the Island of Hokkaido, a two-hour drive away from New Chitose Airport, while Sapporo, Hokkaido's capital, is one hour-and-forty-five minutes' drive away.

"The Japanese economy is very stable and it is a good time to invest in this product," said Derek Kennewell, LJ Hooker Niseko Resort brand manager, who is handling the sales of the development.

The development has 68 residential units across levels two to six, with the ground floor reserved for commercial and retail outlets. Shiki niseko will be managed like a hotel by LJ Hooker asset management. Rental yields are projected to be 3% to 4% per year.

Unit sizes range from 630 sq ft to 1,700 sq ft with 1-bedroom, 2-bedroom, 2+1 bedroom, and penthouse types available. All units come fully furnished.

The prices range from US$600,000 (RM1.87 million) to US$1.7 million.

The 2+1 bedroom type has a studio unit attached with a separate entrance to the 2-bedroom section, allowing the owners to rent out seperate sections within the same unit.

The gross development value of the project is 5.6 billion yen (RM215.5 million).
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