The Exciting Redevelopment of Tokyo's Nihonbashi District

Introduction

Nihonbashi, located in central Tokyo within the Chūō ward, is a district steeped in history and cultural significance. Established in the 17th century, it emerged as a
commercial hub during the Edo period, serving as the starting point for Japan's five major roads and housing the iconic Nihonbashi Bridge. This bridge not only lent the area its name—meaning "Japan Bridge"—but also became a symbol of the nation's transportation network.

Over the centuries, Nihonbashi has been synonymous with commerce, culture, and innovation. It is home to Japan's oldest department store, Mitsukoshi, which began as a kimono shop in the area. The district also played a pivotal role in the country's financial development, with the establishment of institutions like the First National Bank and the Tokyo Stock Exchange in the late 19th century.

In recent years, the area has been undergoing a significant transformation aimed at revitalizing its historical charm while integrating modern urban functionalities. As of January 31, 2025, several large-scale redevelopment projects are underway, with some nearing completion.

Progress and Completion Dates

One of the most anticipated projects is the Nihonbashi 1-chome Central District Redevelopment, slated for completion in March 2026. Construction is in full swing, focusing on reconstructing commercial facilities and office buildings to rejuvenate the area.

Another notable project is the Nihonbashi Honcho M-SQUARE, set to be completed in November 2025. Designed as an environmentally friendly office building, it aims to enhance the local business environment significantly.

Key Developers

Leading the charge in Nihonbashi's redevelopment are major real estate companies Mitsui Fudosan and Nomura Real Estate. These firms play a crucial role in the district's transformation, aiming to introduce modern urban functions while respecting the area's rich history and culture. Notably, Mitsui Fudosan is spearheading the "Nihonbashi Revival Plan," a series of projects designed to enhance the area's appeal.

Impacts on the Area

The redevelopment is expected to bring numerous benefits to Nihonbashi, including improved transportation convenience and a boost to the local economy. With better access to subway and JR stations, the district's value as a business and tourism hub is set to increase. The addition of new commercial facilities and offices will also create more job opportunities in the area.

Major Redevelopment Projects

1. Nihonbashi 1-chome Central District Type 1 Urban Redevelopment Project

Scheduled for completion by the end of March 2026, this project involves constructing a 52-story, five-basement mixed-use building housing commercial facilities, a hotel, offices, and residences. A new underground pedestrian walkway will directly connect to Nihonbashi Station on the Tokyo Metro Ginza and Tozai Lines, enhancing transportation convenience.

2. Nihonbashi Muromachi 1-chome District Type 1 Urban Redevelopment Project

Initiated in December 2021, this project is progressing with Block A scheduled to start construction in 2024 and Blocks B, C, and D in 2028. Upon completion in 2030, it will significantly upgrade the area's urban functions.

3. Nihonbashi 1-chome 1 and 2 Block Type 1 Urban Redevelopment Project

Officially launched in October 2024, this project aims to update urban functions and revitalize the area, focusing on developing waterfront spaces. Construction is set to begin in 2027, with the entire project expected to be completed by 2034.

4. Nihonbashi 1-chome East District Type 1 Urban Redevelopment Project

Progressing with a conversion plan set to be approved in March 2025, this project aims to significantly improve the area's urban functions. Construction is scheduled to start in 2026, with completion expected in June 2038.

5. Nihonbashi Honcho M-SQUARE

Scheduled to start construction in June 2024 and be completed in November 2025, this environmentally conscious office building aims to achieve ZEB Ready certification, emphasizing energy efficiency.

6. GREATER Nihonbashi

Focusing on waterfront revitalization and the creation of new industries, this project is divided into WEST and EAST areas, leveraging each area's unique characteristics to create a diverse and international neighborhood. The main project is scheduled for completion by the end of March 2026.

Conclusion

As of January 31, 2025, the redevelopment of the Nihonbashi district is well underway, with multiple projects progressing towards completion in the coming years. These initiatives aim to revitalize the local economy, improve transportation convenience, and have a significant impact on the entire area. Major developers such as Mitsui Fudosan and Nomura Real Estate are involved, implementing urban development based on their vision.

The redevelopment's impact on the area is multifaceted. Economically, it is expected to create new business opportunities and increase employment. Infrastructure improvements will enhance regional accessibility and convenience for residents and visitors. Furthermore, environmentally friendly urban development is being promoted, contributing to the realization of a sustainable city.

As the Nihonbashi district undergoes this exciting transformation, it is poised to become an even more vibrant and attractive destination, seamlessly blending its rich history with cutting-edge urban development. The coming years will undoubtedly witness the emergence of a revitalized Nihonbashi, ready to embrace the future while cherishing its storied past.