Mitsubishi Estate initiates planning for $8.3bn redevelopment project in Tokyo

1 September 2015 (Last Updated September 1st, 2015 18:30)

Mitsubishi Estate has started planning processes for the Tokiwabashi district redevelopment project in central Tokyo, Japan.

Mitsubishi Estate Tokyo project

Mitsubishi Estate has started planning processes for the Tokiwabashi district redevelopment project in central Tokyo, Japan.

Estimated to cost around JPY1tn ($8.3bn), the project will span across a 3.1ha area adjacent to Tokyo's main rail station.

It includes four developments which have been scheduled to be carried out in stages over a four-year period.

It includes construction of a 390m-high skyscraper, which is likely to turn into a 'landmark' in the Japanese capital.

This high-rise tower has been planned to feature 61 storeys above the ground and five below ground. It will mainly comprise offices and commercial facilities along with parking space. The development is also likely to include hotels and an observation deck.

"I want this building to be as symbolic and as competitive as other landmark buildings in the world."

Mitsubishi Estate president Hirotaka Sugiyama was cited by The Wall Street Journal as saying: "I want this building to be as symbolic and as competitive as other landmark buildings in the world."

Redevelopment works for other three buildings as parts of the project will include setting up of office, retail, parking, electrical substation and sewage pumps.

Construction of the project is likely to be completed by financial year 2027.

The project also includes plan for development of a spacious plaza within the complex with a 7,000m² floor area, which is aimed to support the busy global centre.

The redevelopment project will see Mitsubishi Estate to equip the buildings with its seismic-resistance technology, which can protect those during earthquakes.


Image: Exterior view of the planned Tokiwabashi district redevelopment project. Photo: courtesy of Mitsubishi Estate.