Tokyo’s Top 4 Redevelopment Hotspots: Key Areas for Foreign Investors
Explore Tokyo’s top real estate areas like Hamamatsucho, with easy Haneda access via Monorail—key redevelopment zones for foreign investors.
目次
“Are there any redevelopment projects underway in Tokyo that a foreign investor should know about?”
“What are the plans and timeframes for those redevelopment projects?”
Tokyo's urban landscape is constantly evolving.
If you've been to Tokyo recently, you may have noticed several neighborhoods undergoing major redevelopment.
These redevelopment projects are driven by Japan’s strategic push for modernization, tourism, and international business appeal, and they could also significantly impact property values and rental demand.
In this article we focus on four key areas—Hamamatsucho, Tsukiji, Kachidoki, and Takanawa Gateway—that are undergoing or slated for transformation, each with a unique trajectory worth watching closely.
I'm confident that reading this article will give you a comprehensive understanding of Tokyo's redevelopment plans.
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Tokyo’s Top 4 Redevelopment Hotspots
- Hamamatsucho
- Tsukiji
- Kachidoki
- Takanawa Gateway
1. Hamamatsucho: A Transportation and Office Hub in Transformation
(Image: JR East)
Hamamatsucho, strategically located between Shinagawa and Tokyo Station, is already a well-connected transport hub with monorail access to Haneda Airport.
The area is now undergoing a major redevelopment led by JR East.
The project includes high-rise office towers, luxury hotels, commercial spaces, and green public areas.
Improved pedestrian access and integration with Tokyo Monorail and JR lines.
Redevelopment Initiatives:
- World Trade Center Building Rebuild Project (Planned Opening: 2027 onward)
This ambitious project involves the construction of high-rise office buildings, residential complexes, and commercial facilities.
The development aims to create a vibrant mixed-use district that enhances the area's appeal to both businesses and residents.
The South Wing opened earlier in 2021. According to a joint press release by World Trade Center Building, Inc., Kajima Corporation, Tokyo Monorail, Inc. and East Japan Railway Company, the Main Wing and Terminal, to be opened in coming years, will feature international and tourist functions such as a luxury hotel (Raffles Tokyo), commercial facilities, World Medical Center, conferences, and tourist pre-experience facilities.
This marks the debut of Raffles, a top luxury brand of Accor—Europe’s largest hotel group—in Japan.
In addition, the area to be known as “Station Core” will be developed to seamlessly connect JR, monorail, subway, bus, taxi and parking facilities.
(Source: JR East)
- Tokyo Monorail Station Redevelopment (Planned Opening 2029):
Plans are underway to modernize the Tokyo Monorail Hamamatsucho Station, improving connectivity and accessibility for commuters.
(Source: JR-East Design Corporation)
- BLUE FRONT SHIBAURA (Tower S: February 2025, Tower N: 2030)
This Hamamatsucho Building (aka Toshiba Building) reconstruction project is a special project under the National Strategic Special District Plan jointly developed by Nomura Real Estate Development Co., Ltd. and East Japan Railway Company.
It is a mixed-use development comprising twin towers (Towers S and N) that integrate offices, a hotel, retail facilities, and residences.
Tower S will house Japan’s first Fairmont Hotel, another top brand of the French multinational hotel group Accor, which is scheduled to open in July 2025.
(Source: Nomura Real Estate Development)
As Hamamatsucho continues its transformation into a lively, mixed-use neighborhood with better access for international visitors, it's no surprise that demand for luxury apartments and business-friendly stays is quickly picking up.
2. Tsukiji: From Historic Market to Modern Urban District
(Image: Bureau of Urban Development, Tokyo）
Once the site of Tokyo's iconic fish market, Tsukiji is on the cusp of a major identity shift.
Even after the fish market was relocated to Toyosu, the shopping streets around the fish market, so-called “Tsukiji Outer Market”, have been lively with tourists.
Now, the Tokyo Metropolitan Government plans to redevelop the former market site into a multifunctional complex.
Possibilities include cultural facilities, event venues, hotels, and waterfront enhancements.
The development aims to preserve the area's historical significance while introducing modern amenities.
Redevelopment Plans:
- Mixed-Use Development (Pre-opening: 2026-2027, Opening: 2029 - later 2030 in phases)
The former market site, covering approximately 190,000 square meters, is slated for redevelopment into a mixed-use complex featuring commercial spaces, cultural facilities, and public parks.
The project is being undertaken by a consortium of 11 major companies, led by Mitsui Fudosan, and includes prominent names such as Toyota Real Estate, the Yomiuri Shimbun Group, Kajima, Shimizu Corporation, Taisei Corporation, Takenaka Corporation, Nikken Sekkei, Pacific Consultants, Asahi Shimbun, and Toyota Motor Corporation.
It includes:
- Indoor all-weather multi-functional stadium with a capacity of approximately 50,000 people;
- MICE (meetings, incentives, conferences, and exhibitions) facility;
- Theater hall that will serve as a cultural and artistic center for 1,200 people;
- Transportation node for land, sea, and air, with an eye toward the opening of new stations for boat transportation, flying cars, self-driving cars, and a new metro station; and
- Food hall that will utilize the Tsukiji brand.
(Source: Nikkei XTech, Chuo Ward)
With an estimated investment of approximately 900 billion yen, the Tsukiji redevelopment presents long-term investment opportunities.
Investors may consider acquiring properties in surrounding areas that will benefit from increased foot traffic and enhanced infrastructure.
3. Kachidoki: High-Rise Living on the Rise
(Image: Bureau of Urban Development, Tokyo)
Situated near the Sumida River—renowned for its fireworks displays—and adjacent to Tsukiji, Kachidoki is rapidly transforming into a premier high-rise residential area and becoming increasingly attractive to families and expats.
The area is known for its modern condominiums and proximity to Tokyo Bay.
Redevelopment Plans:
- High-Rise Residential Projects:
Developers are constructing luxury condominiums and apartment complexes, catering to professionals and families seeking modern living spaces with waterfront views.
There are two highlights: (1) Grand Marina Tokyo and (2) The Toyomi Tower Marine & Sky.
- Grand Marina Tokyo (Planned completion: 2028)
It is a mixed-use development located approximately 200 meters south of Kachidoki Station on the Toei Subway Oedo Line.
The project includes commercial, assembly, business, residential, and elderly welfare facilities.
The residential component, 'Park Tower Kachidoki (Mid and South, completed in August 2023),' is developed by Mitsui Fudosan Residential Corporation, Shimizu Corporation (Mid) and Kajima Corporation (South).
The residential project has been well-received, with units launched in phases.
Currently, the launch of units in the South Tower is on hold, according to Mitsui Fudosan Realty’s website.
(Source: Mitsui Fudosan Residential, Mitsui Fudosan Realty, Chuo-ku)
- The Toyomi Tower Marine & Sky
This major residential project is being developed by a consortium of leading companies, including Mitsui Fudosan Residential Corporation, Tokyu Land Corporation, Tokyo Tatemono Co., Ltd., Nomura Real Estate Development Co., Mitsubishi Jisho Residence, Inc., and Shimizu Corporation.
Construction began in January 2023 and is scheduled for completion in 2027.
The launch of units, originally planned for April 2024, was postponed due to safety concerns related to verifying the strength of the concrete used. Sales are now expected to resume in July 2025.
(Source: Chuo-ku, Tokyo Shimbun, Mitsui Fudosan Residential (1) (2))
- Tokyo Rinkai Subway Line (Planned Opening: 2040)
To improve transportation networks and public amenities, the Tokyo Metropolitan Government (TMG) announced plans on April 25, 2022, for a new subway line connecting Tokyo Station to the waterfront area.
The 6.1 km route will begin at Tokyo Station and pass through Tsukiji, Kachidoki and Harumi, with seven new stations to be constructed.
Once completed, the new line—linking the tentative Tokyo Station to Ariake/Tokyo Big Sight Station—will reduce travel time from Harumi to Haneda Airport from approximately 35 minutes to around 20 minutes.
(Source: Chuo-ku)
Development of large-scale residential complexes like “Harumi Flag” (originally the Olympic Village) is nearby.
The area's waterfront location and proximity to central Tokyo make it an attractive destination for urban dwellers.
4. Takanawa Gateway: Tokyo’s New Global Gateway
（Image: JR East）
Takanawa Gateway Station, which opened in 2020 as part of JR East's Yamanote Line, is the centerpiece of a massive redevelopment between Shinagawa and Tamachi.
Takanawa Gateway is poised to become a hub for innovation and international business. The area's development is centered around the concept of a "smart city."
Redevelopment Plan:
- Takanawa Gateway City (Planned Opening: 2026)
Led by JR East, this initiative aims to create a futuristic urban environment that integrates advanced technologies, sustainable infrastructure, and international business facilities.
The project consists of five buildings and includes MICE facilities (such as a convention center), high-grade offices designed for multinational companies, premium residences, an international school, a tourism hub, the luxury hotel JW Marriott, and public green spaces, among other amenities.
Part of the development opened in March 2025, with the grand opening scheduled for spring 2026.
(Source: JR East, Takanawa Gateway City)
This is one of Tokyo’s most ambitious urban redevelopments.
The emphasis on innovation and sustainability may attract multinational corporations and tech companies, driving demand for office spaces and accommodations.
Investors seeking long-term growth should consider mixed-use and residential properties around Shinagawa and Takanawa Gateway.
The area is expected to become a major business destination, especially for foreign firms.
Our team of seasoned professionals at Property Access is dedicated to helping you navigate Japan’s real estate market with confidence.
With deep local knowledge and a commitment to personalized service, our experts are here to guide you every step of the way.
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Summary
In this article, we looked at Hamamatsucho, Tsukiji, Kachidoki, and Takanawa Gateway—each representing a different facet of Tokyo’s redevelopment strategy: infrastructure upgrades, smart cities, international business zones, and modern residential living.
Hamamatsucho: This gateway station to Haneda Airport is set to transform into an integrated mixed-use transportation hub, supported by the World Trade Center Rebuild Project, the Tokyo Monorail Station Redevelopment, and the Blue Front Shibaura Project.
Tsukiji: The former fish market site is set to become a large-scale cultural and transportation hub, highlighted by the planned construction of a 50,000-seat all-weather stadium.
Kachidoki: Already well known for Harumi Flag, a community developed on the former Olympic Village site, Kachidoki is gaining international attention with major projects like Grand Marina Tokyo and Toyomi Tower Marina & Sky.
Takanawa Gateway: Following the opening of the new Takanawa Gateway Station, the surrounding area has been transforming into a smart city designed to host international businesses and MICE events.
While timelines and scales vary, the common thread is Tokyo’s commitment to transforming its urban core to meet 21st-century needs.
For real estate investors, these areas are not just neighborhoods—they are opportunities in motion.
Focus on mixed-use developments near major transport nodes and look for properties that offer flexibility for both rental and resale.
As redevelopment progresses, value will concentrate in these key transformation zones.
Our team of seasoned professionals at Property Access is dedicated to helping you navigate Japan’s real estate market with confidence.
With deep local knowledge and a commitment to personalized service, our experts are here to guide you every step of the way.
