Key Facts
• ‘Everyone’s Landlord’ investment product delayed dividend payments as of July 31, 2025.
• Gateway Narita project began six years ago but remains mostly undeveloped land.
• Located three minutes from Narita Airport, the project spans 10 Tokyo Dome-sized plots.
• Promised facilities include a 5,000-seat dome, large hotel, and international event spaces.
• Investors contributed funds starting at $10,000 per share, with a 7% expected return.
• 37,000 investors have contributed a total of $13.6 billion to the project.
• Dividend payments were bi-monthly but halted due to delayed rental income.
• A 70-year-old investor contributed $27,000 from retirement savings, relying on dividends for living expenses.
• Project delays include three extensions, with construction now 4 years and 8 months behind schedule.
• The company plans to sell assets and issue bonds to resume payments and fund development.
Summary
The ‘Everyone’s Landlord’ investment product, managed by the Kyosei Bank Group, has faced significant delays in its Gateway Narita project. Despite starting six years ago, the site near Narita Airport remains largely undeveloped. Investors, who contributed a total of $13.6 billion, were promised a 7% return, but dividend payments were halted in July 2025 due to delayed rental income. The project, which includes ambitious plans for a dome, hotel, and event spaces, is nearly five years behind schedule. The company has apologized and announced plans to sell assets and issue bonds to address the financial shortfall. Investors, many of whom are retirees, have expressed concerns over the lack of transparency and the impact on their finances.
