Capabilities of “Land Innovation” and “Contribution to the Community”

Unlike other major developers in Japan, we started with a mere three buildings in 1949 following the breakup of the conglomerates and it was only from the 1970s that we made our full entry into the business of developing office buildings in central Tokyo. Therefore, instead of reconstructing buildings we owned or purchasing sites through competitive bidding, we focused on a redevelopment method by integrating multiple small parcels of land into a larger scale through persistent efforts, to maximize the site value. In this way, we continued developing superior assets, expanding our business platform and increasing our corporate value. Today, these capabilities of “Land Innovation” have become our greatest strength and the source of corporate value creation.
In particular, through redevelopment pursuant to the Urban Renewal Act that requires the formation of a consensus among multiple landowners, and consultations with the authorities, we have contributed to improvement of the city infrastructure including disaster-prevention functions by eliminating densely built-up areas of wooden houses and widening narrow streets, as well as to the revitalization of the community.
Through redevelopment, we pursue not only profitability but also sustainable city development that solves social issues the community is facing.

Redevelopment under the Urban Renewal Act

The Urban Renewal Act of Japan was enacted in 1969 to ensure the effective utilization of land through the improvement of the densely populated urban areas in an integrated and comprehensive manner. Through the communal use of small parcels of land and the development of public facilities such as parks and roads, it enables buildings to be rebuilt into high-rise structures, significantly increasing the floor area. The landowners acquire floor space in the redeveloped building commensurate with the value of the land or building prior to redevelopment and the developer (the Company) covers the project funds including the construction costs and acquires the remaining floor space.

* There are two types of urban-redevelopment projects: The Type 1 Urban-Redevelopment Project based on the right conversion method without land acquisition and the Type 2 Urban-Redevelopment Project that involves land acquisition. Type 2 Urban-Redevelopment Projects are permitted in urgent situations such as for areas where disasters are imminent and are executed by local governments, rather than individuals or associations, over a relatively short period of time.

Redevelopment under the Urban Renewal Act - Major projects completed and planned

Project area Principal building Location Gross floor
Main purposes Completion
Nishi-kanda 3-chome North-east Chiyoda First Building East Chiyoda Ward, Tokyo 38,800㎡ Office・Residence・Retail Oct 1998
Nakanosakaue Chuo 1-chome West Sumitomo Nakanosakaue Building Nakano Ward, Tokyo 36,600㎡ Office・Residence・Retail Apr 1999
Koraku 2-chome East Sumitomo Fudosan Iidabashi First
Bunkyo Ward, Tokyo 62,900㎡ Office・Residence・Retail Mar 2000
Roppongi 1-chome West Izumi Garden Tower Minato Ward, Tokyo 208,400㎡ Office・Residence・Retail Oct 2002
Nishi-shinjuku 6-chome South Sumitomo Fudosan Shinjuku Oak
Shinjuku Ward, Tokyo 163,100㎡ Office・Residence・Retail Nov 2002
Nishi-kanda 3-chome North-west Chiyoda First Building West Chiyoda Ward, Tokyo 63,400㎡ Office・Residence・Retail Jan 2004
Osaki Station West Gate Central Osaki West City Towers Shinagawa Ward, Tokyo 129,100㎡ Residence・Office・Retail Aug 2009
Nishi-shinjuku 6-chome West No.6 Central Park Tower La Tour Shinjuku Shinjuku Ward, Tokyo 153,500㎡ Residence・Office・
Retail・Multipurpose hall
Mar 2010
Koraku 2-chome West Sumitomo Fudosan Iidabashi First Tower Bunkyo Ward, Tokyo 78,400㎡ Office・Residence・
Retail・Multipurpose hall
Apr 2010
Hachioji Station South Gate Southern Sky Tower Hachioji Hachioji, Tokyo 99,800㎡ Residence・Office・Retail Nov 2010
Asahi-dori 4-chome City Tower Kobe Sannomiya Kobe, Hyogo 92,900㎡ Residence・Hotel・Retail Mar 2013
Roppongi 3-chome East Sumitomo Fudosan Roppongi Grand
Minato Ward, Tokyo 210,500㎡ Office・Residence・
Retail・Multipurpose hall
Oct 2016
Kokubunji Station North Gate City Tower Kokubunji The Twin Kokubunji, Tokyo 93,200㎡ Residence・Retail・Office Mar 2018
Nishi-shinagawa 1-chome Sumitomo Fudosan Osaki Garden
Shinagawa Ward, Tokyo 222,000㎡ Office・Residence・Retail Aug 2018
Oi 1-chome South No.1 City Tower Oimachi Shinagawa Ward, Tokyo 60,600㎡ Residence・Retail Jul 2019
Kanda-neribeicho Sumitomo Fudosan Akihabara Ekimae
Chiyoda Ward, Tokyo 30,800㎡ Office・Residence・Retail Aug 2019
Musashi-koyama Ekimae-dori City Tower Musashi-koyama Shinagawa Ward, Tokyo 53,500㎡ Residence・Retail Jun 2021
Mita 3- and 4-chome  (Tentative name) Tokyo Mita
Redevelopment Project
Minato Ward, Tokyo 228,800㎡ Office・Residence・Retail 2023(expected)
Nishi-shinjuku 5-chome North (Tentative name) Nishi-shinjuku 5-
chome Kita Project
Shinjuku Ward, Tokyo 137,300㎡ Residence・Office・Retail 2023(expected)
Nakano 2-chome (Tentative name) Nakano 2-chome
Nakano Ward, Tokyo 99,000㎡ Office・Residence・Retail 2024(expected)