Shigeharu Miyagi, the president of Ajast Co., Ltd. housing agency and Ikei Landowners’ Association Chairman Masanori Tamaki announced Oct. 19^th that they have signed a contract to use 128,000 sq.m (31.6 ac.) of land on Ikei Island.

According to the contract, the land will be used to establish a business, which will start in April 2014, as the “AJ Resort Island Ikei”. The contract is valid for 30 years.

The hotel and restaurant that are already sitting on the property were previously known as “Big Time Resort Ikei island.” Ajast Co. bought the hotel from its previous owners earlier this year, and the facilities have been going through a renovation since July this year. Big Time Resort closed in 2012.

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