Mitsubishi Estate : The Full-Scale Commencement of the Yurakucho Area Reconstruction ProjectThe Beginning of the Yurakucho Building and Shin-Yurakucho Building Rebuilding Project (PDF 674KB)
July 27, 2021 at 10:13 pm EDT
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July 28, 2021
PRESS RELEASE
Mitsubishi Estate Co., Ltd.
The Full-Scale Commencement of the Yurakucho Area
Reconstruction Project
The Beginning of the Yurakucho Building and Shin-
Yurakucho Building Rebuilding Project
Mitsubishi Estate Co., Ltd. (hereinafter "Mitsubishi Estate") announces its decision to rebuild the Yurakucho and Shin-Yurakucho Buildings that Mitsubishi Estate owns at 1-chome Yurakcho, Chiyoda-ku, Tokyo.
The Yurakucho and Shin-Yurakucho Buildings are situated in a good location in front of JR Yurakucho Station. About 55 years have passed since the completion of the Yurakucho Building in 1966 and 54 years have passed since 1967 when Shin-Yurakucho Building was built. Mitsubishi Estate has decided to begin this rebuilding project to respond to the high-specification needs of tenants, respond to the social demand for the realization of a carbon-free society and enhanced disaster resilience to ensure business continuity, and contribute to the wide-area regional plan for the Yurakucho area, an appealing urban renewal project.
Calling the urban renewal of the Marunouchi area (Otemachi, Marunouchi, and Yurakucho) after 2020 the Marunouchi NEXT Stage, Mitsubishi Estate aims to build a stage for the creation of new value through the assembly and mixing of people and businesses. One of the goals of the Mitsubishi Estate Group Long-Term Management Plan 2030 is to be a showcase for urban renewal based on culture, art, and MICE. The Yurakucho area is a key area for this renewal.
Yurakucho Micro STARs Dev., a leading project for the reconstruction of the Yurakucho area, began in December 2019. Mitsubishi Estate has carried out many different projects to promote creative and inspiring urban renewal ideas by encouraging diversity, discovering new talent, and providing a stage for people. Additionally, Mitsubishi Estate is implementing new projects to increase the value of the community through art. The community is being renovated to inspire and cultivate people's sensibility through encounters with diverse people, ideas, events, and things.
As the first part of the reconstruction project, we will construct new buildings in the Yurakucho area. It will create new value through Yurakucho Micro STARs Dev. These will be flagship buildings of Mitsubishi Estate that will lead the restructuring of the area by bringing to fruition of the new "value" that is being created through the various initiatives of "Yurakucho Micro STARs Dev."
Mitsubishi Estate will continue to discuss the details of the rebuilding project with the parties involved. The existing buildings will close in 2023, however, a specific schedule has yet to be determined.
Structure and scale: Steel-framed reinforced concrete structure
stories above ground
stories below ground
roof structure
Site area: 7,233.26 m2 (2,188.06 tsubo)
Floor area: 83,023.27 m2 (25,114.54 tsubo)
Completion date: January 1967
⑦ Owner: Mitsubishi Estate Co., Ltd.
Location map
Yurakucho Building
Shin-Yurakucho Building
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Mitsubishi Estate Co. Ltd. published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 02:12:01 UTC.
Mitsubishi Estate Co., Ltd. specializes in development, promotion and management of real estate assets. Net sales (including intragroup) break down by activity as follows:
- management and operation of office buildings and shopping centres (55.2%);
- development, management and operation of residentials and condominiums (27.6%);
- real estate asset management (3.2%);
- other (5.2%): primarily hotel and airport management, real estate services (real estate brokerage, leasing, parking management, etc.) and engineering and construction of civil infrastructure.
The remaining net sales (8.8%) are from international real estate management and operation activities.
Mitsubishi Estate : The Full-Scale Commencement of the Yurakucho Area Reconstruction ProjectThe Beginning of the Yurakucho Building and Shin-Yurakucho Building Rebuilding Project (PDF 674KB)
MITSUBISHI ESTATE CO., LTD. 
