Key Facts
• Over 38,000 investors contributed more than ¥200 billion to ‘Everyone’s Landlord.’
• Dividend payments abruptly stopped at the end of July 2025.
• The ‘Gateway Narita’ project, started six years ago, remains largely undeveloped.
• Investors were promised annual returns of 6-7% on investments starting at ¥1 million.
• A 71-year-old investor contributed ¥4 million, receiving monthly dividends for over a year.
• The project’s progress rate was only 2.3% as of January 2025.
• Local real estate experts estimate the land’s value at ¥12.5 billion, far below the ¥156.1 billion claimed.
• Former insiders revealed funds were misused, leaving ‘almost nothing’ remaining.
• Over 1,000 investors plan to file a lawsuit seeking ¥10 billion in damages.
• Legal experts warn of risks in investing in incomplete projects without proper due diligence.
Summary
The real estate fund ‘Everyone’s Landlord,’ which raised over ¥200 billion from 38,000 investors, has halted dividend payments since July 2025. The flagship ‘Gateway Narita’ project, launched six years ago, remains largely undeveloped, with progress at just 2.3%. Promised returns of 6-7% attracted many, including retirees, but funds were allegedly misused within the group, leaving little remaining. Local experts question the valuation of the land, estimated at ¥12.5 billion, far below the claimed ¥156.1 billion. Investors, unable to recover their funds, are preparing a collective lawsuit for damages. Legal professionals emphasize the importance of thorough research before investing in incomplete projects.
