Tokyo Olympic Village Condo Buyers: Compensate Us for Delays

Tokyo Olympic Village Condo Buyers: Compensate Us for Delays


Harumi Flag development renderings and Mitsui Fudosan CEO Masanobu Komoda. (Harumi Flag, Getty)
Some of the condominium buyers in Tokyo’s Olympic village are seeking compensation for delays to their move-ins.
Occupancy at the master-planned Harumi Flag complex was to begin in 2023, but that has been pushed back at least a year, according to Reuters. The complex is set to house athletes competing in the pandemic-delayed Summer Olympics, now set to begin in July.
Two dozen buyers of Harumi Flag units want payment from the community’s development team — 10 companies with Mitsui Fudosan Residential https://therealdeal.com/new-research/topics/company/mitsui-fudosan/ as a lead developer. They have entered civil mediation proceedings.

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