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Native name | 三菱地所株式会社 |
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Romanized name | Mitsubishi Jisho kabushiki gaisha |
| Company type | Public |
| TYO:8802 TOPIX Core 30 Component | |
| Industry | Real estate |
| Predecessor | Mitsubishi Goshi Kaisha |
| Founded | 7 May 1937; 88 years ago (1937-05-07) |
| Headquarters | , Japan |
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| Website | www |
Mitsubishi Estate Company, Limited (三菱地所株式会社,Mitsubishi Jisho kabushiki gaisha;MEC) is one of the largestreal estate developers in Japan and is involved in property management and architecture research and design.
As of 2018,Mitsubishi Estate has the most valuable portfolio in the Japanese real estate industry, with a total value of approx. 7.4 trillion yen, much of which is located in theMarunouchi district of Tokyo.[2] MEC owns Japan's third tallest building, theYokohama Landmark Tower, as well as theSanno Park Tower andMarunouchi Building inTokyo. Mitsubishi Estate has its headquarters in the Otemachi Building inŌtemachi,Chiyoda, Tokyo.[3] It is one of the coreMitsubishi companies.
The company was established in 1937 as a spin-off of the real estate holdings of theMitsubishizaibatsu. It was listed on the Tokyo and Osaka stock exchanges in 1953.[4]
Its largest concentration of assets is around the Daimaruyū area (Ōtemachi,Marunouchi andYūrakuchō districts) west ofTokyo andYūrakuchō Stations, an area purchased by thezaibatsu from the Meiji government in 1890 and developed into an office district.[5] Today, the area houses the headquarters ofMitsubishi Corporation,Mitsubishi UFJ Financial Group,MUFG Bank,Mitsubishi UFJ Trust & Banking,Mitsubishi Heavy Industries,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 outRockefeller Group inNew York City, the real estate company that then fully ownedRockefeller Center.[4] 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 ofOsaka andUmeda Stations between 2010 and 2013, including the Grand Front Osaka complex.[4]
Mitsubishi Estate stated in November 2014 that it had agreed to sell a 41-year-old office building inTokyo back toMizuho Financial Group for $1.35 billion.[6]
In 2015, Mitsubishi announced that it would hold a majority stake in a redevelopment project north of Tokyo Station that would include thetallest building in Japan, a 390 metres (1,280 ft) skyscraper. The targeted completion date for the project is 2027.[5]
In 2019, Mitsubishi Estate became the developer of theOne City Center project in Bangkok, which was completed in March 2023. This marked the Mitsubishi Estate Group's first office development project in Thailand, with a total investment of approximately 8.8 billion Thai baht (around 36.1 billion yen). Standing at about 276 meters tall, One City Center is the tallest office building in Thailand. Mitsubishi Estate collaborated on the project withRaimon Land Co. Ltd., a leading developer in Thailand.[7]
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.[8]
Established 1870 byIwasaki Yataro | ||
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