Izumikyo: Niseko’s pioneering developers

Izumikyo Company has had a hand in the creation of the Niseko resort area since 1973.

 

After successfully developing such integral sites as the Hirafu Middle Village, Izumikyo, St. Moritz and Country Resort, the pioneering developer is about to release what it calls its ‘newest and greatest project’, Hanazono Hills, with the release to be announced, but on-track for this year.

Izumikyo Co. – with an office now based in Izumikyo 2 – has spent the last 36 years creating infrastructure around the Niseko resort, and says it takes pride in sustainable development efforts. Izumikyo Co. says it is also ‘proud of dealing directly with the customer and cutting out the middle man, which is the real estate agent’.

Izumikyo Co. first emerged as a developer front-runner in Niseko just before the bubble years of Japan. The 78-year-old head honcho of Izumikyo Co. Masahiko Nishimura reminisces about the good old days, when Niseko went through its first boom and was promoted to the domestic market as ‘Japan’s ski paradise’. He says ‘property was taken off the market the same day it was listed’.

In 1985 Izumikyo Co. developed Izumikyo 1, 2, and 3, which remain titled as such today. A major milestone was the commencement of a free ski shuttle bus service which serviced all of the village.

During the Japanese economic slump commencing in the early 90’s, Izumikyo Co. still continued its sustainable development campaign and successfully released the St. Moritz Village.  Times were tough in Niseko during that period, and business didn’t really pick up until the first foreigner came and bought land from Izumikyo Co. in the Resort Land development back in 2003.

Over the last six years, international buyers have been flooding into Niseko and snapping up everything the developers can release once again, says Masahiko-san.

“As we are the Niseko land wholesalers, we depend on turning over sales at a discounted rate as opposed to sitting on a single prime piece of real estate for an indefinite time period,” he says.

Masahiko-san says Izumikyo Co. has a busy and prosperous future ahead.

“Rest assured that we are working hard to release our next high-grade sub-division,” he says.

“As all eyes are on Hanazono, we are busy preparing our 52-home village within walking distance of all the action, to be created by Hanazono’s owners; Pacific Century Property Development (PCPD).  We are happy to report that everything we have planned is on schedule and slated to be released within the year.”