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Property

Mitsubishi Estate to develop arts-focused projects in Tokyo

Company teams up with broadcaster TBS in Akasaka, with plans for other areas too

Tokyo's Akasaka district is set for a facelift under Mitsubishi Estate's plan to redevelop some buildings with a focus on entertainment.

TOKYO -- Real estate developer Mitsubishi Estate has teamed up with TBS Holdings to redevelop Tokyo's Akasaka district with a focus on entertainment, Nikkei has learned.

The two companies will invest more than 200 billion yen ($1.8 billion) to rebuild skyscrapers, a theater and a performance hall in fiscal year 2028 in Akasaka, with the hopes of attracting tenants in the entertainment industry. Mitsubishi Estate plans to develop similar projects in the Yurakucho and Otemachi districts.

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