The number of developments with more than 10,000m2 floor in central Tokyo revealed in fiscal 2016 increased by nine to 104 projects from the previous year and the total floor space was approximately five million m2, up nearly one million m2, according to the documents submitted to Tokyo Metropolitan Government. As leading real estate developers have undertaken their flagship projects in a full swing, Japanese capital city is experiencing a sophistication of urban functions.

Fourteen projects, the most number of 24 central wards in Tokyo are located in Minato Ward, followed by Shinjuku, twelve, Chiyoda and Koto, eleven respectively. By building type, the number of office buildings increased by nine to 30, while residential projects were reported 34, the most in number. Stable demand for offices supported by good business results encourages developments in central Tokyo. Facilities for the 2020 Olympic Games were seven in number; the New National Stadium and extension work of Tokyo Big Sight, a planned venue for the media center are among them.

The number of 100,000m2-plus super large developments was eleven, increasing by two from fiscal 2015. The largest project revealed last year was Mitsubishi Jisho’s Otemachi 2-chome Tokiwabashi, a complex of buildings of total 680,000m2 floor space including 390m super high rise, which is set to be the tallest building in Japan. (2017/4/10)