Osaka Castle

Osaka Castle at night time. Will Osaka help shoulder the burden of Tokyo for 2020 Summer Olympics?

Olympics are hosted by cities rather than the whole country and 2020 was awarded to Tokyo. Events bring in real estate, facilities and sporting venue developments across cities which post the event end up being non-performing assets, difficult to maintain and flat demand post the event.

It is good to note that after the revised plans were submitted by the Tokyo metropolitan government’s 2020 Games planning division, IOC vice president John Coates has called for prioritising sustainability over extravagant infrastructure quoting that “We have suggested to the organising committee that for the preliminaries for basketball, just as for football, they may care to look at cities like Osaka that might have large venues.”

Interchange of Highway, Higashi-Osaka

Interchange of Highway, Higashi-Osaka

Although this would dilute Tokyo’s initial proposition that promised virtually all events to take place within eight kilometers of the Olympic village, from a long term standpoint this will obviate the need to build facilities which will languish in the post 2020 scenario. IOC has suggested to the organising committee that for the preliminaries for basketball, just as for football, they may look at cities like Osaka that might have large venues.

400 kms to the west of Tokyo, call for Osaka to also hold some events is a surprise although Saitama and other prefectures closer to Tokyo were earlier in consideration..

Osaka Umeda Sky Building

Osaka Umeda Sky Building : Osaka has seen a lot of real estate activity, primarily in the central Osaka City. Will Governor Hashimoto use this chance to extend an helping hand to Tokyo or will neighboring prefectures  around Tokyo like Saitama take the chance?

The revised plans will effectively help cut the bill for the 2020 Summer Olympics by 200 billion yen for Tokyo which is a huge financial plus and with IOC saying “make the maximum use of existing facilities, and that overrides the eight kilometre philosophy to hold the games”, we can look forward to a more distributed, economical and sustainable Olympics event