Mitsubishi Corporation Urban Development, Inc. (Location: Chiyoda-ku, Tokyo; President & CEO: Kenji Morita), The Sankei Building Co., Ltd. (Location: Chiyoda-ku, Tokyo; President & CEO: Kazunobu Iijima), and Marubeni Real Estate Development (Location: Minato-ku, Tokyo; Representative Director: Kiyoto Kuramoto) announced that the companies will demolish the Misono Building in Sennichimae, Chuo-ku, Osaka and will develop a hotel and mixed-use commercial complex on the site. The new facility is scheduled to open in the spring of 2031 or later.

The planned site is located at the center of the Namba and Sennichimae area that encompasses the Shinsaibashi-suji Shopping Street and the Kuromon Ichiba market, making it a tourism destination with high potential for large numbers of visitors from within Japan and overseas. It is located 2-minute walk from Nippombashi Station on the Osaka Metro Sennichimae Line and Sakaisuji Line or Kintetsu Nippombashi Station on the Kintetsu Namba Line, and within walking distance of Namba Station, a major station in Osaka. This provides outstanding transportation convenience via multiple railway lines. A variety of restaurants and entertainment facilities are concentrated in the surrounding area, which boasts a long historical background as a hub for the communication of regional culture.

Against this background, through the development the companies will promote new value creation while carrying forward the history of the region and enhancing its appeal as a tourism destination.

Taking “To nurture the future of urban spaces through our power to imagine and realize change” as its stated Purpose, Mitsubishi Corporation Urban Development, Inc. engages in real estate and urban development unbound by convention, primarily in the industrial, retail, and entertainment domains. In the industrial domain, the company works in the area of dry logistics warehouses as well as the development of automated and other refrigerated and frozen warehouses, multi-tenant life sciences R&D facilities (iPark Kobe), and multi-tenant manufacturing/R&D facilities under the innoba brand. In the retail and entertainment domains, the company engages in the development of urban commercial facilities, Neighborhood Shopping Centers (NSCs), and hotels, as well as event projects at Yokohama Red Brick Warehouse and other sites. The company also undertakes large-scale urban development centered on arenas and other features.

Fully leveraging the comprehensive strengths of the Mitsubishi Corporation Group, which interfaces with a vast range of industries and customers in Japan and overseas, Mitsubishi Corporation Urban Development will continue to open up the potential of cities together with customers and partners.

Since its founding in 1951, The Sankei Building Co., Ltd. has worked to create business value aligned with changes in society and the times, accurately capturing the characteristics of cities and communities. Operating six businesses – the Building Business, Residential Business, Hotel and Resort Business, Senior Business, Logistics Business, and Overseas Business – the company is expanding its business domain from its core Tokyo and Kansai metropolitan areas to all of Japan from Hokkaido to Okinawa, and on to overseas regions as well.

In its role as a "Culture Developer", the company continues to construct buildings while also proposing activities and valuable experiences unique to locations, nurturing new culture that envisions the future.

Marubeni Real Estate Development has taken a new step forward as a core group company of Daiichi Life Marubeni Real Estate Co., Ltd., jointly established in July 2025 by Marubeni Corporation and Daiichi Life Holdings, Inc. (current Daiichi Life Group, Inc.). In addition to its existing residential development business, the company has added non-residential asset development in hotels, logistics, and other areas to its lineup under a new structure that combines the strengths of its two parent companies' groups.

For around 40 years, the group has provided lasting value through urban development. The recent group reorganization is a major change of gear that essentially represents a second founding. People's lifestyles and the external environment are bringing about new challenges and opportunities in which diverse elements intricately intertwine. The group will continue to tackle the creation of new value without losing sight of essentials, while contributing to the creation of sustainable cities.