Osaka Sets Minimum Bid for Land Near MGM Osaka
Osaka will use a two-stage selection progress that will assess plans before final price is considered
Osaka City has put a minimum price tag of JPY92.113 billion ($595 million), on a 42-hectare parcel beside the planned MGM Osaka resort.
This signals a move ahead with a second-stage land sale that could shape the wider Yumeshima development.
Per AGB, the site sits within an international tourism district and is being marketed for commercial use, with an additional 4,012 square metres to be leased to the winning bidder.
A Site Built for Spillover Growth
The land forms part of the former Osaka-Kansai Expo grounds and is separate from MGM Osaka’s Phase 1 construction zone, but officials want the two projects to work in tandem.
Osaka’s master plan refers to an “IR collaboration zone” designed to create synergies with the integrated resort and the planned Expo memorial park.
The broader concept calls for entertainment, recreation, exhibition and retail functions that would help establish Yumeshima as a tourism hub rather than a single-purpose resort district.
Japan announced it would open a second round of IR bidding in 2027. Hard Rock announced its intention to pursue such a license in December of last year.
Yokohama mayoral candidate Kazuma Nakatani pledged this week that he intends to push back on IRs as well as campaigning for a local ban if elected.
Bidding Process Now Set
Osaka is using a two-stage selection process that will first assess project plans before price is considered. Applications are due from January 12 to 15, 2027, with the price review scheduled for February 17.
The highest bid at or above the floor price will secure prospective developer status.
