Notice of Participation in the First Phase of the Otemachi Redevelopment Project
Last updated：June 13, 2005
At a Board of Directors meeting held today, NTT Urban Development Corporation (President: Kiyoshi Mita, Headquarters: 2-2, Otemachi 2-chome, Chiyoda-ku, Tokyo) resolved to participate in the first phase of the Otemachi redevelopment project as a corporate partner. NTT Urban Development will join three other companies—Mitsubishi Estate Company, Limited, Tokyo Tatemono Co., Ltd., and Sankei Building Co., Ltd., in the project.
1. Project Overview
First phase of the Otemachi redevelopment project
(Type 1 urban redevelopment project under the Urban Redevelopment Law, planned for the Otemachi common government office sites)
| Planned operating entity | Otemachi Kaihatsu, Ltd. |
|---|---|
| Planned site | Otemachi common government office sites 1 and 2 7 - 18, - 19, Otemachi 1-chome, Chiyoda-ku, Tokyo |
| Planned site area | Approx. 13,400 m2 |
| Corporate partner role | To undertake some business for the operating entity and acquire a portion of its holdings |
(Reference) Outline of Otemachi Kaihatsu, Ltd.
| Head office | 6-2 Marunouchi 2-chome, Chiyoda-ku, Tokyo |
|---|---|
| Established | June 3, 2004 |
| Capitalization | ¥3 million |
| Representative | Kenji Iimori |
| Primary objectives | Acquiring, developing, holding, buy / selling, leasing, managing and disposing of real estate Acquiring, holding, buy / selling and disposing of real estate beneficial trust interests |
(Any activities related to those stated above)
2. Investment
NTT Urban Development's maximum investment is expected to be ¥30.0 billion.
3. Participation Schedule
| June 13, 2005 | Board of Directors resolution Conclusion of agreement to participate in the first-stage development of the Otemachi common government sites |
| 2007 | Commencement of building construction on the first-stage development of the Otemachi common government sites |
| 2009 | Completion of construction |