(as of March 31, 2025)
Since 2010, Tokyu has redeveloped the Shibuya area and the areas served by Tokyu lines and has improved and expanded the real estate leasing business. This has generated stable income while ensuring the possession of high-quality real estate.
Breakdown by Use and Area
Major Properties for Lease (Location Map)
(as of March 31, 2025)
Property Ownership Around Shibuya Station
(as of March 31, 2025)
Trend of Average Rent and Vacancy Rate for Office Spaces
With our advantage of owning many properties directly connected to key stations, we are maintaining average rent increases and low vacancy rates.
Our Floor Space in the Shibuya Station Vicinity and the Greater Shibuya Area
Our floor space in the greater Shibuya area is increasing, and we aim for further expansion in the future.
List of Ongoing Redevelopment Projects (*)
We are promoting multiple redevelopments projects around Shibuya Statation, while closely examining the impact of soaring construction costs and other factors on our income and expenditures.
*The schedules, total floor areas, and investment amounts for each project are based on current forecasts and are subject to change due to various uncertainties.
Our Redevelopment Projects in the Shibuya Area (including those currently underway)
Based on the strategy of "Greater SHIBUYA 2.0," the Tokyu Group promotes redevelopment mainly around the station to enhance the appeal of the Shibuya area.
Market Price and Book Value of Leased Properties
The openings of large-scale redevelopment projects centered around the Shibuya area and the improvement of the profitability of properties have led to an increase in unrealized gains.
We pursuit stable and continuous profit contribution from the real estate sales business and further revitalizing the Tokyu line areas through “value enhancement of the areas” by the residential sales business as well as the asset-turnover building business with an awareness of “portfolio and capital efficiency”.
Business Profit Trends in the Real Estate Sales Business
(as of March 31, 2025)
In Japan, we promote population attraction to the Tokyu line areas through the real estate sales. Overseas, we aim to secure and expand stable earnings mainly through projects in Vietnam.
Number of Units and Major Properties Scheduled for Delivery in Japan
Number of Units and Major Properties Scheduled for Delivery Overseas
Leveraging the expertise developed through the Tokyu Tama Den-en-toshi project, we operate the following businesses overseas:
■ Vietnam: Creation of an integrated public transportation system through the development of work, live, and play environments as well as the bus business.
■ Thailand: Residential sales and residential leasing businesses
■ Australia: Residential land development projects and urban development projects. (infrastructure development, employment promotion projects).
Major Overseas Operation Locations
Binh Duong New City and Ho Chi Minh Location Map (Vietnam)
Sriracha and Bangkok Location Map (Thailand)
Perth and Yanchep Location Map (Australia)
