On March 24th, the Nikkei Shimbun reported that Mori Building and Sumitomo Realty & Development have unveiled plans for a joint ¥700 billion redevelopment project in Roppongi, Tokyo.
CG image courtesy of the Cabinet Office proposal; pdf of which is linked at the bottom of this article.
This initiative, poised to be one of Japan's largest urban redevelopment projects, comes amidst rising construction material costs that have significantly inflated the budget.
Artist renderings showing how dramatic one side of Roppongi Crossing will change once this project is finished. Courtesy of the Cabinet proposal linked below.
In a recent interview with the Nikkei, Shingo Tsuji, president of Mori Building, discussed the financial pressures faced by the industry.
For instance, the Azabudai Hills project, which opened in November 2023 in Tokyo’s Minato Ward, saw its budget surge from an initial ¥580 billion to ¥640 billion due to escalating material costs.
Roppongi 5 Chome West Project area amongst its Mori Building peers. Courtesy of Mori Building website.
The Roppongi 5-chome West District Project aims to transform an area covering 10.1 hectares, nearly mirroring the scale of the 11.6-hectare Roppongi Hills complex.
Central to this redevelopment is a 327-meter skyscraper, alongside facilities for MICE (meetings, incentives, conferences, and exhibitions) and luxury residential towers.
Courtesy of the Cabinet Office proposal; pdf of which is linked at the bottom of this article.
Construction is set to commence in fiscal 2025, with project completion targeted for fiscal 2030.
Sources:
Nikkei Shimbun (Japanese only; paywalled)
