Large-scaled development plans in Tokyo’s metropolitan areas revealed from April to September in 2014 are in sharp decline both in number and total floor space from the previous year. Prolonged increase of construction cost and land price hike due to the economic recovery are likely putting a brake on developers’ businesses.

The survey by the Daily Engineering & Construction News revealed that 45 new projects with more than 10,000m2 floor area, down 14 from the same period in the year earlier, became public by the Tokyo government. The total floor space decreased by 17 % to 1,518,049m2.

By the area, Shinagawa City had the most projects, seven, and Chuo and Ota five each, followed by Kita and Minato City of four. Super large developments that have total 100,000m2 or more amounted only three, a half of the previous period. (2014/10/02)