Chiba Prefecture announced the three developers that have been chosen to work on a large-scale apartment project in Makuhari New City in Chiba. Mitsui Fudosan, Mitsubishi Jisho and Nomura Real Estate will begin work on a 180 billion Yen (1.5 billion USD) residential complex with approximately 4,300 apartments. When complete, it will be the largest apartment complex in the greater Tokyo area.
To appeal to young family buyers, prices will kept at affordable levels, with some suggesting they could be around the 40 million Yen (335,000 USD) range. The complex will house as many as 10,000 residents when complete.