Construction starts on 230m office and hotel tower in Hibiya
On December 8, NTT Urban Development and TEPCO Power Grid announced the official start of construction for the NTT Hibiya Tower. The 48-story high-rise is part of a large block development that will see three buildings redeveloped, including the Imperial Hotel next-door, by 2037 or later. Each of the three buildings are expected to include a hotel component.Read more
Osaka Expo site prepares for new entertainment complex
Preparations are now underway to determine the next use for the site of the former Expo 2025 in Osaka. Private developers are looking at redeveloping the 50-hectare grounds into an entertainment facility by the early 2030s. Together with the integrated resort and casino project underway next-door, the two projects are expected to revitalize the manmade island of Yumeshima.Read more
Honda announces partial sale of Aoyama HQ
Honda Motor is transferring partial ownership of its Honda Aoyama Building to Mitsui Fudosan Residential, according to a press release issued by the developer on August 29.
The 17-story building sits on a prominent corner above Aoyama Itchome Station and alongside Aoyama Street. It is currently slated for redevelopment with demolition to start shortly, with the new project to be completed by 2030.Read more
Redevelopment plans announced for Grand Prince Hotel Shin Takanawa
On June 6, Seibu Real Estate released details on the redevelopment plans for the Grand Prince Hotel Shin Takanawa on the western side of Shinagawa Station in Tokyo. This is a joint venture involving Seibu, Tokyu Land Corporation, the Urban Renaissance Agency, and the Takanawa 3 Chome Shinagawa Station Front Town Redevelopment Committee.Read more
180m tall office tower completed in Toranomon
Construction of Toranomon Alcea Tower was officially completed on February 14, though tenant move-ins are expected to begin towards the end of the year. The 38-story office building was built on the former site of Toranomon Hospital, which was recently rebuilt next-door as part of a larger block redevelopment.Read more
Imperial Theatre redevelopment plans announced
Details on the redevelopment of the Imperial Theatre in Tokyo’s Marunouchi district were announced last month. The 59-year old theatre will be replaced with a 155-meter tall, 29-story mixed-use tower. This is a joint venture between Mitsubishi Estate, Toho Co., and the Idemitsu Museum of Arts foundation.Read more
30% of developers postponing building redevelopment projects, survey says
Amid rising material costs and a shortage of labour in the construction industry, over 30% of Build To Rent-type developers are reportedly delaying or revising redevelopment plans for older buildings. This finding comes from a report published by the Development Bank of Japan (DBJ) on November 29.Read more