Japanese-Estonian clashes over real-estate

Jul 18, 2008
Monika Hanley

TALLINN- Japanese businessmen are looking to expand. In Estonia. One of the plans is to build a retirement village for older Japanese. Already the various companies have accrued excited investors, despite hearty opposition from the local populace.  

According to news source Bonjour l’Estonie, the Japanese business man, Toshio Kawabe and new investor Yoshiaki Misawa are not only interested in plans for the town of Virumaa but also Rakvere.

The representative of Toshio Kawabe, Erja Jarvis, was quoted by the Postimees as saying “Misawa has investors, who are interested in investing, and not all are interested in only buying land, but also in buying the enterprises shares.”

Toshio Kawabe, recently paid a visit to Rakvere with Yoshiaki Misawa, a regular investor to Kawabe’s projects, most interested in investing in the Virumaa project.

On the problems regarding constructing the Japanese retirement village, Kawabe said that everything takes too long and delays make relegating his finances a problem.

“We have frozen the plans about Hõbeda village, because from there the opposition was greatest. We will not act any further there,” added Kawabe’s representative.

The locals in nearby Vohnja and Hõbeda townships have protested the recreation village since the beginning. They are concerned over the damage to social and natural environmental aspects. However all this doesn’t seem to faze Kawabe and his plans who plans to go ahead despite difficulties.