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Projects in the Shibuya, Omotesando and Aoyama areas are presented on the next page. Commercial facilities and office buildings that are currently operating are marked in red and orange respectively, and projects that are currently in the planning stage are marked in green.
As for the redevelopment project in the Shibuya Station area, a decision has already been made regarding the urban planning of the Shibuya Dogenzaka block where Tokyu Plaza Shibuya is currently sited, and a redevelopment union was established in April.
Under the project, we plan to develop a 59,000m2 complex building with 18 floors above ground and 4 floors below ground, with the upper floors to be used as offices and the lower floors as commercial facilities. Demolition work will start in fiscal 2015, and the building is expected to open in fiscal 2018.
We also proposed the urban planning of the Shibuya Sakuragaoka Block Redevelopment Plan in December 2013.
The project expects to develop a number of buildings, including commercial and office buildings in the area near the station and residential buildings beyond this area, with a floor area of 240,000m2 on approximately 1.7 ha land. Although urban planning has not yet been determined, we will focus on the project with a target of opening the buildings in fiscal 2020.
Meanwhile, the perspective drawing of the Omotesando Project (tentative name) that is expected to begin operating in January 2015 as described above is presented from these financial highlights.
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