Hanazono Purchase Goes Through!
It turns out that all of the speculation about a large Hong Kong investment group taking over Hanazono from Harmony has proved true.
Richard Li’s PCCW (Pacific Century CyberWorks Limited) has apparently purchased a substantial stake of and most likely a controlling interest in the Hanazono ski area neighboring Niseko-Hirafu. Harmony was probably left with a small equity interest so that PCCW can get help developing the resort.
Richard Li is the youngest son of Hong Kong billionaire Li Ka Shing, and his PCCW has recently made some very profitable real estate sales on the back of some controversial purchases in the Tokyo area and is awash with cash… and it seems like he’s found a really good place to put some of it.
A recent drive through the Hanazono area revealed real estate signs by the dozen tacked to trees on the undeveloped land that hugs every curve and corner. As a planned resort on a grand scale, Hanazono has a clean slate, and it is less likely to be burdened by the lack of foresight and infrastructure that many of the investors and developers in Niseko-Hirafu have to deal with.
An announcement verifying the content of this article is scheduled to be made over the next month.