Mitsubishi Corporation Urban Development, Inc. (Location: Chiyoda-ku, Tokyo; President & CEO: Kenji Morita) announced that it has acquired an office building on a site in the Ginza area of Chuo-ku, Tokyo, where the company will develop a hotel following the demolition of the existing structure. The hotel is scheduled to open after autumn 2029.

Mitsubishi Corporation Urban Development engages primarily in industrial-oriented real estate development in the industrial domain and customer attraction-oriented real estate development in the retail and entertainment domains. Against a backdrop of recent inbound tourism attraction measures and the resulting diversification of lodging needs for overseas visitors to Japan, Mitsubishi Corporation Urban Development will leverage its development know-how gained through real estate development and the network of the Mitsubishi Corporation Group to enter into development of upscale- to luxury-class hotels, primarily in metropolitan areas.

The project property is located in the Ginza area within walking distance of JR Shinbashi Station, Tokyo Metro Ginza Station, and Toei Subway Tsukijishijo Station, offering excellent convenience. High visibility along Showa Street also heightens the site's suitability for a hotel. Further improvement to the environment is expected due to development in the surrounding area, including the Tsukiji District Urban Planning Project planned nearby and enhancements to visibility and walkability on the west side of the property following the conversion of Shuto Expressway remnants to a promenade.

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, life sciences R&D facilities, and shared manufacturing/R&D facilities under the innoba brand. In the retail and entertainment domains, the company engages in the development of urban retail facilities, Neighborhood Shopping Centers (NSCs), and hotels, as well as arena development and 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 nurture a prosperous future for cities together with customers and partners.