MITSUBISHI ESTATE Annual Report 2014
030,00060,00090,000120,0000102030405060Mitsubishi Estate-Owned Buildings in the Daimaruyu Aream2Improving the Appeal of Tokyo as a Global CityWe believe that Mitsubishi Estate’s development efforts, including those in the Daimaruyu area, improve the appeal of Tokyo as a city overall and increase its international competitiveness. We see our rivals in Asia as Singapore, Hong Kong, and Shanghai. Completed in October 2012, Otemachi Financial City is not only filled with financial institutions but is also the address of the FINE TOKYO center. Established by Mitsubishi Estate, the center provides services aimed at fostering financial professionals with advanced skills suitable to the district’s position as a global financial base. The reasoning behind the center’s establishment was that providing a space where experts from the information-intensive financial industry could gather would contribute to the strength-ening of Tokyo’s international competitiveness. In addition, assuming further progress in the globalization of the workforce in the Daimaruyu area, we took steps in our development plans to include more diverse response capabilities, such as encourag-ing a hospital providing services in both English and Japanese to establish a medical center in the area. Co-Creation of Area’s Future Urban Planning through Collaboration with the Public and Private Sector In urban development, partnerships from a variety of perspectives and of diverse combinations play an extremely important role. A major goal such as strengthening the international com-petitiveness of Tokyo cannot be achieved by the Mitsubishi Estate Group on its own. In developing the Daimaruyu area, we formed an urban development organization to enable collaboration among the area’s landowners, authorities, and other stakeholders in forming a shared vision of the development goals. Through network-building and collaboration with stakeholders, we elicited the co-creation of an urban development plan. A solid example of this co-creation process is currently under way as the third phase of the Otemachi Chain Redevelopment Project. This project utilizes the idle land in the Daimaruyu area previously occupied by a national government ministry as seed land for a chain development process. We established a system that would enable the stakeholders of urban development in the area to accelerate the upgrading of company offices in the area—including those in the Otemachi district, where many companies operate around the clock—without forcing them to move to temporary office space. At first, some owners of build-ings in the area and others built new buildings on the idle former government ministry site and moved their tenants. Subsequently, using the vacated sites in the area, we carried out a continuous process of rebuilding in multiple stages. While Mitsubishi Estate participated in both the second phase—Otemachi Financial City— and the third phase of the project, the groundwork for the project was laid by the mutual trust and performance record built over many years of working with various stakeholders on a shared vision of the area’s future. the Mitsubishi Estate Group’s Business ModelVertical Axis: Leased Office Area (m2)Horizontal Axis: Building Age (years)Circle Size: Total Area (m2)YearsTop: FINE TOKYOBottom: St. Luke’s MediLocusMarunouchi Park BuildingOtemachi Financial CityMarunouchi Eiraku Building24MITSUBISHI ESTATE CO., LTD.