Marunouchi Building in
Tokyo. Mitsubishi Estate has its headquarters in the Otemachi Building in
Ōtemachi,
Chiyoda, Tokyo
is a Special wards of Tokyo, special ward located in central Tokyo, Japan. It is known as Chiyoda City in English language, English. . It is one of the core
Mitsubishi companies.
History
The company was established in 1937 as a spin-off of the real estate holdings of the
Mitsubishi ''
zaibatsu''. It was listed on the Tokyo and Osaka stock exchanges in 1953.
Its largest concentration of assets is around the Daimaruyū area (
Ōtemachi,
Marunouchi and
Yūrakuchō districts) west of
Tokyo and
Yūrakuchō Stations, an area purchased by the ''zaibatsu'' from the Meiji government in 1890 and developed into an office district.
Today, the area houses the headquarters of
Mitsubishi Corporation,
Mitsubishi UFJ Financial Group,
MUFG Bank,
Mitsubishi UFJ Trust & Banking,
Mitsubishi Heavy Industries
is a Japanese multinational engineering, electrical equipment and electronics corporation headquartered in Tokyo, Japan. MHI is one of the core companies of the Mitsubishi Group and its automobile division is the predecessor of Mitsubishi Motors ...
,
Mitsubishi Electric,
Meiji Yasuda Life,
Nippon Yusen and other Mitsubishi group companies, as well as numerous other firms not affiliated with the group.
In 1990 Mitsubishi Estate fully bought out
Rockefeller Group
Rockefeller Group is an American private company based in New York City, primarily involved in real estate operations in the United States and it is a subsidiary of Mitsubishi Estate Co. The company began with the development of Rockefeller Cent ...
in
New York City, the real estate company that then fully owned
Rockefeller Center.
Since then the older section of the Center has been sold and the Rockefeller Group, still owned by Mitsubishi, owns the western corridor of the complex.
Mitsubishi Estate led the redevelopment of the Umekita area north of
Osaka and
Umeda Stations between 2010 and 2013, including the Grand Front Osaka complex.
Mitsubishi Estate stated in November 2014 that it had agreed to sell a 41-year-old office building in
Tokyo back to
Mizuho Financial Group for $1.35 billion.
In 2015, Mitsubishi announced that it would hold a majority stake in a redevelopment project north of Tokyo Station that would include the
tallest building in Japan, a skyscraper. The targeted completion date for the project is 2027.
Investments
In 2019, Mitsubishi Estate announced a commitment of 10 billion yen in investments as part of their initiative to discover new business projects and to develop synergy with innovative businesses.
* Mitsubishi Estate participated in the Series D round of funding for
Astroscale
Astroscale Holdings Inc. is a private orbital debris removal company headquartered in Tokyo, Japan. The company is developing satellite end-of-life and active debris removal services to mitigate the growing and hazardous buildup of debris in ...
, a Singapore-headquartered space debris removal startup with offices in Japan and the UK. The round was led by Japan's INCJ Ltd., and included funds operated by SBI Investment Co., Ltd (SBII) and totaled US$50 million.
* In May 2019, Singapore-based
proptech Property technology (also known as proptech, PropTech, prop-tech, and real estate technology) is used to refer to the application of information technology and platform economics to the real estate industry. Property technology overlaps with finan ...
startu
GorillaSpaceannounced that it had raised an undisclosed
seed round of investment led by Mitsubishi Estate. This investment marked the first seed level investment for Mitsubishi Estate, as well as the first proptech startup outside of Japan to receive funding from the company.
* Mitsubishi Estate announced on the 28th of January 2019, that it has accepted new shares issued b
Clean Planet Inc Clean Planet (Minato-ku, Tokyo) is a venture firm that researches and develops "new hydrogen energy".
Group companies
*
Rockefeller Group International, Inc.
*
Europa Capital
*
Mitsubishi Jisho Sekkei Inc.
*
Mitsubishi Real Estate Services Co., Ltd.
*
Mitsubishi Estate Home Co., Ltd.
*
Yokohama Royal Park Hotel Co., Ltd.
*
Aqua City Co., Ltd.
*
Marunouchi Heat Supply Co., Ltd.
*
Yokohama Sky Building Co., Ltd.
*
Royal Park Hotel Co., Ltd.
References
External links
Mitsubishi Este Co., Ltd.
{{Authority control
Real estate companies established in 1937
Companies listed on the Tokyo Stock Exchange
Companies listed on the Osaka Exchange
Real estate companies based in Tokyo
Mitsubishi companies
Japanese companies established in 1937