About 240km north-west of Tokyo lies a sleepy pocket of the nation's ski country called Myoko Kogen.
Bustling in the 1980s bubble era with young skiers and neon-lit streets, the area has seen better days.
Enter Mr Ken Chan, the former Japan head of Singapore sovereign wealth fund GIC, who plans to harness 210 billion yen (S$1.9 billion) in investments to transform it into a luxury skiing paradise to rival Aspen, Whistler and St Moritz.
For two years, his investment firm has bought surrounding land at cut-rate prices thanks to the plunging yen.
And by 2026, he aims to have international hotels in place, along- side housing for thousands of workers.
The plan to put Myoko on the world tourism map is a cornerstone project for Mr Chan and his company Patience Capital Group, which manages US$500 million (S$684 million) and also invests in residential real estate assets in Japan.
It comes as more global investors look to get in on the country's redhot tourism rebound, and its ski slopes become more celebrated.
この記事は The Straits Times の October 14, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Straits Times の October 14, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
British novelist David Lodge was twice shortlisted for Booker Prize
British novelist David Lodge, who was shortlisted for the Booker Prize twice, has died at the age of 89, his publisher said on Jan 3.
A CITY FOR BABIES
After a successful experiment, The City of Babies Lab has opened a new permanent space dedicated to children aged from birth to 23 months.
Scientist Names 16 New Spider Species After Jay Chou's Songs
A Chinese scientist has named 16 new spider species after songs by popular Mandopop musician Jay Chou.
Actress JJ Jia Xiaochen upset with hubby for not remembering wedding anniversary
Chinese actress JJ Jia Xiaochen has grumbled about her husband, Hong Kong action star Louis Fan, on social media again.
Actress Chen Liping leaves Mediacorp after 40 years
Actress Chen Liping, a household name in the local entertainment industry, has left broadcaster Mediacorp after 40 years.
Raising four cats costly, but gives Rui En four times the joy
In this new series, The Straits Times speaks to pet-owning personalities about the trials and delights of raising their fur kids
Vet Talk Check that your pet is eating safely during the festive season
Pet ownership is on the rise in Singapore, with many families treating their furry companions as one of their own.
Learning to embrace change positively
On the last evening of our recent family holiday, my three children were having a boisterous conversation in the bedroom of the apartment we were staying in.
STRONGER, TOGETHER
Good parent-teacher relationships can boost a child's confidence and holistic development
Roaring Off To A-League Adventure
Tan makes Brisbane debut as sub in loss to Canberra on her return from knee surgery
