Japan opens its tallest building in Osaka

7 years ago by in Business

Abeno Harukas skyscraper, the tallest building in Japan, is getting open on Friday in Osaka, after Kintetsu Corp., one of the main rail operators in western Japan, spent Y130 billion ($1.3 billion) and four years constructing the 300-meter building.

The skyscraper will surpass the 296-meter Landmark Tower in Yokohama, about 20 miles south of central Tokyo.

The complex has 60 floors and includes a Marriott International Inc. hotel and a separate proposal for a Y500 billion casino resort, according to the international press.

The impressive building is one of the latest attempts to revive Osaka’s economy.

“The building will be a success, but total demand will not improve,” said Masayuki Kubota, chief strategist at the institute. “Osaka should try special economic zones and create new businesses from those zones.”

Osaka, once Japan’s capital, is the birthplace of Japan’s biggest brokerage, Nomura Holdings, and Nippon Life Insurance Co., the largest non-government life insurer.

Osaka is also is Japan’s third largest city by population after Tokyo and Yokohama. It has a population of more than 2,600,000 people.