According to GlobalData, the value of Japan construction market is forecast to grow by 0.9% in real terms in 2024, having grown by 2.5% in 2023. A key growth market will be the infrastructure market, with output rising by 1.5% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the top five office building construction projects that commenced in Japan in Q1 2024, according to GlobalData’s construction projects database.
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1. Toranomon 1-Chome East District Urban Redevelopment
The project involves the construction of a 171m tall, 119,886m2, 29 floors above ground, and four floors underground on 0.65ha of land in Minato-ku, Tokyo.
Construction work started in Q1 2024 and is expected to be completed in Q2 2027.
The project aims to provide better commercial facilities in the region.
2. Dogenzaka 2-Chome South District Type One Urban Redevelopment
The project involves the construction of two commercial towers with a floor area of 87,100m2 on 0.8ha of land in Tokyo.
Construction work commenced in Q1 2024 and is expected to finish in Q1 2027.
The project aims to provide better office and retail facilities in the region.
3. Shinjuku Station West Exit District Redevelopment
The project involves the construction of a 258m tall, 279,057m2, 48-story above-ground and five-story below-ground commercial tower on 1.57ha of land in Shinjuku-Ku, Tokyo.
Construction work started in Q1 2024 and is forecast to complete in Q3 2029.
The Odakyu department store Shinjuku, which will be rebuilt under the Shinjuku station west exit district development plan.
4. Yamagata Bank New Head Office Building
The project involves the construction of a 14,707m2 seven-story office building on 0.36ha of land at Nanukamachi 3-1-2 in Yamagata City, Yamagata prefecture.
Construction work commenced in Q1 2024 and is expected to be completed in Q1 2026.
5. Omiya South Gate Office Building
The project involves the construction of a 58m tall, 29,382.49 m2, 12-story above-ground and one-story below-ground office building on 1.10ha of land at Saitama City, Saitama Prefecture.
Construction work started in Q1 2024 and is expected to be completed in Q3 2025.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
