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Next I would like to explain redevelopment project around Shibuya station, a center of the greater Shibuya area, which is referred as “once-in-a-century development”.
After the construction of Shibuya Hikarie in 2012, redevelopment around Shibuya Station has advanced rapidly and in 2017, SHIBUYA CAST. in 2018, SHIBUYA STREAM where Google moved in were opened.
And for the redevelopment project, 2019 was a milestone.
Starting with an opening of Shibuya Scramble Square in November 2019 as a new landmark of Shibuya with a height of 230m, Shibuya PARCO reborn as a complex with office floors on upper floors and SHIBUYA FUKURAS, comprised of Tokyu Plaza Shibuya and office complexes were open and we think an area around the station has been completely changing.
In 2020 and onwards, large development projects will continue such as Shibuya Sakuragaoka Exit District Redevelopment Plan which is to be completed in 2023 and Shibuya Scramble Square Ⅱ, Central Tower and West Tower to be completed in 2027, which will attract further attention as the most wanted city to visit in Japan.
For us, growing attractiveness of Shibuya, the center of the greater Shibuya area, will enhance value of the area as one of our focused investment areas, owned assets as well as Activia itself.
For your reference, Activia and its asset manager transferred to Shibuya Solasta in October 2019.
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