The Akasaka 2-6 Chome District Redevelopment Plan, jointly promoted by Mitsubishi Estate and TBS Holdings, is a large-scale project to construct two buildings in Akasaka, Minato City, Tokyo: a 40-story supertall tower standing approximately 207 meters tall and a mixed-use complex housing a theater and hotel. Certified under the National Strategic Special Zone framework, construction began in January 2024, and the project is now moving into full swing toward overall completion in 2028. Designed as a "station-city integrated" development directly connected to Akasaka Station, it is expected to bring transformative change to the Akasaka area's real estate market. This is a trend that property owners cannot afford to overlook, and there is significant value in developing a strategy now.
What Is the Akasaka 2-6 Chome District Redevelopment Plan? — Project Overview
Project Sponsors and Background — A Joint Development by Mitsubishi Estate and TBS Holdings
The Akasaka 2-6 Chome District Redevelopment Plan is a mixed-use development led by Mitsubishi Estate Co., Ltd. and TBS Holdings, utilizing the site of the demolished former International Shin-Akasaka Building (West and East wings). The design is handled by Mitsubishi Jisho Sekkei, while construction is carried out by Kajima Corporation for the East Block and Takenaka Corporation for the West Block. Building on TBS's long-standing presence in broadcasting and cultural activities in this area, the core vision of this plan is to renew and strengthen Akasaka as an "Entertainment City."
The partnership between two powerhouses — Mitsubishi Estate and TBS — is driven by a strategy to maximize the Akasaka area's potential while seamlessly capturing both office demand and entertainment demand. This is precisely why the project goes beyond a simple office building replacement, designed instead as a mixed-use development integrating a theater, hotel, and commercial facilities.
National Strategic Special Zone Certification and Urban Planning Approval
The plan received its urban planning approval on November 15, 2021, and was simultaneously certified as a National Strategic Urban Planning and Architecture Development Project under the National Strategic Special Zone framework. Furthermore, on February 9, 2024, the project obtained certification as a Private Urban Redevelopment Project Plan from the Minister of Land, Infrastructure, Transport and Tourism, accelerating the initiative with national policy backing.
Tokyo Metro's "station-city integrated" development of Akasaka Station is also being promoted in conjunction with this plan, positioning it as a project of paramount importance from the perspective of public transit coordination. The administrative backing of the National Strategic Special Zone designation not only strengthens the project's certainty but is also a key factor influencing the ripple effects on the surrounding area.
Development Scale and Use Composition of the East and West Blocks
East Block (Office Tower) — 40 Floors, Approx. 207m Tall, Approx. 167,000 m² Total Floor Area
The East Block is a supertall office tower with 40 above-ground floors and 4 basement levels, standing approximately 207.30 meters tall with a total floor area of approximately 167,642 m². Its primary uses include offices, retail, and an incubation facility — the inclusion of the incubation facility is specifically aimed at attracting startup clusters. At approximately 167,000 m² of total floor area, the scale rivals major redevelopment projects in Toranomon and Shibuya.
The Akasaka area has long been home to embassies, government offices, and foreign-affiliated companies, and the completion of this tower is expected to further strengthen the area's appeal as an international business hub. However, this large-scale office supply could also pose a competitive challenge for existing buildings in the surrounding area. A detailed analysis of these impacts is provided in the "Impact on Akasaka's Real Estate Market" section below.
West Block (Entertainment Complex) — Theater, Hall, and Canopy by Hilton
The West Block is an 18-story entertainment complex with 3 basement levels, standing approximately 99.87 meters tall with a total floor area of approximately 38,143 m². Its anchors are a TBS-developed theater and hall (approximately 11,000 m²) and the Canopy by Hilton Tokyo Akasaka (174 rooms total, including 24 suites), occupying floors 7 through 18. Canopy by Hilton is a lifestyle hotel brand making its first foray into the Kanto region, drawing significant attention ahead of its 2028 opening.
The approximately 11,000 m² theater and hall developed by TBS will further expand the cultural and entertainment functions adjacent to Akasaka Sacas. In fact, this scale rivals some of Japan's largest private theaters, signaling the emergence of a cultural venue with both domestic and international drawing power. As a growth hub for the entertainment industry, it is expected to have a direct positive impact on the economic ecosystem of the surrounding area.
Direct Connection to Akasaka Station — A "Station-City Integrated" Pedestrian Network
One of the plan's most notable features is its direct connection to Akasaka Station on the Tokyo Metro Chiyoda Line. An approximately 4,900 m² plaza space will be created from B2F to ground level, improving connectivity to the TBS Akasaka Sacas area as well. Access to the Tameike-Sanno and Akasaka-Mitsuke station areas will also be enhanced, linking the entire district through an integrated pedestrian network.
A direct station connection is a decisive differentiator for office buildings when it comes to attracting tenants. This is especially valued by foreign-affiliated companies and major Japanese corporations, for whom a commuting environment that stays dry even on rainy days is a highly prized feature in office selection.
Impact on the Akasaka Area Real Estate Market
How Large-Scale Office Supply Will Shift Tenant Demand
The supply of approximately 167,000 m² of office floor space has the potential to trigger supply-demand fluctuations in the Akasaka–Tameike-Sanno office market around 2028. In particular, existing office building owners in the surrounding area should be mindful of a potential temporary rise in vacancy rates around the time of completion. However, the National Strategic Special Zone's incubation facility may also help boost overall office demand across the area by cultivating new startup tenants.
As highlighted in the Tokyo Redevelopment Area Major Projects Survey Report, areas with concentrated large-scale office supply tend to experience a "flight to quality" toward Grade A buildings. Owners of existing mid-tier buildings need to urgently consider strategies to add value and retain tenants.
Hilton-Brand Hotel Entry — Ripple Effects on Surrounding Land Prices and Rents
Canopy by Hilton's first entry into the Kanto region will elevate Akasaka's brand image on the international stage. The arrival of an international hotel brand stimulates demand for luxury rental apartments and serviced residences in the vicinity, contributing to the maintenance and increase of rental rates. The establishment of a hub that attracts expatriates from foreign-affiliated companies and affluent inbound visitors will also raise the overall consumer purchasing power of the area.
Looking at other hotel location examples within Minato City, there have been reported cases where residential rents in surrounding areas experienced upward pressure of approximately 5–10% following the entry of an international hotel brand. This is precisely why holding or acquiring assets in the Akasaka area at this juncture carries meaningful strategic value.
Synergy with Akasaka Sacas — Enhancing Area-Wide Connectivity
This plan is adjacent to TBS Akasaka Sacas and is designed to create synergies in entertainment functions. After completion in 2028, Akasaka Sacas, the project's theater and hall, and the new plaza spaces will form one of Tokyo's premier entertainment zones. This environment will dramatically boost foot traffic for dining and retail tenants, and is expected to have a positive impact on commercial rental rates as well.
Additionally, as the residential redevelopment covered in the Akasaka 7-Chome 2-Banchi Redevelopment Project Complete Guide progresses simultaneously with this plan, the overall strength of Akasaka as a neighborhood will be elevated. There is no doubt that the area's reputation — both domestically and internationally — will rise as it becomes a district offering residential, office, hotel, and entertainment functions in one place.
Key Points for Property Owners
Impact on the Office Leasing Market and Recommended Strategies
For owners of leased office properties in the Akasaka–Tameike-Sanno area, preparation during the 2026–2028 period is critical. Tenants will actively explore relocation options around the time of completion, making it essential to proactively strengthen relationships with existing tenants and implement building upgrades ahead of time. Specific effective measures include upgrading ICT capabilities and energy-efficient systems, and exploring the adoption of flexible office configurations.
However, capital investment alone is not enough. Owners must seriously evaluate the risk of tenants migrating to the new tower and determine whether they can present compelling reasons for tenants to stay. Strategic lease management — including reassessing location-specific advantages and rental competitiveness, as well as designing long-term lease incentives — will be the deciding factor.
Benefits of Improved Convenience for the Residential Rental Market
For residential rental property owners in the Akasaka area, the overall impact is expected to be positive. The direct station connection, plaza development, and enriched commercial offerings will enhance the everyday livability of the Akasaka area, supporting the maintenance and growth of rental rates. Properties within walking distance of Akasaka Station, in particular, will gain additional selling points through improved commuting convenience and an upgraded commercial environment.
As the area draws increasing attention leading up to 2028, shorter vacancy periods and higher-quality tenants can also be expected. In fact, over the next two years, the phrase "within walking distance of the 2028 Akasaka redevelopment area" will serve as an effective marketing angle for property listings.
INA's Perspective
I view the Akasaka 2-6 Chome District Redevelopment Plan not merely as a large-scale building project, but as an initiative that will fundamentally reshape Akasaka's urban brand. The integrated development of three functions — office, theater, and hotel — under the National Strategic Special Zone framework will create a level of urban infrastructure that would be impossible to achieve through private development alone.
From a property management perspective, it is essential to recognize the 2028 completion as a pivotal "inflection point" and begin reviewing your asset portfolio and strategy now. I would encourage property owners in the Akasaka area to take proactive steps to capitalize on the positive ripple effects. At the same time, passively holding onto aging office buildings carries considerable risk. INA&Associates provides rental trend analysis in redevelopment areas and consulting services to optimize your asset utilization. Please reach out to us as a partner who can help you view this wave of change not as a threat, but as an opportunity.
Summary
The Akasaka 2-6 Chome District Redevelopment Plan is a project by the formidable partnership of Mitsubishi Estate and TBS, certified under the National Strategic Special Zone framework, set to fundamentally transform Akasaka, Tokyo by 2028. Here are the key takeaways:
- East Block: A 40-story office tower standing approximately 207m tall with approximately 167,000 m² of total floor area. Directly connected to Akasaka Station and equipped with an incubation facility.
- West Block: An 18-story entertainment complex housing an approximately 11,000 m² theater and hall, and Canopy by Hilton (174 rooms).
- Scheduled Completion: March 2028 (buildings) / October 2028 (overall).
- Market Impact: A compound ripple effect on land prices and rents driven by large-scale Grade A office supply, an international hotel brand entry, and an expanded pedestrian network.
Frequently Asked Questions (FAQ)
Q1. When is the Akasaka 2-6 Chome District Redevelopment Plan scheduled for completion?
A. Building completion is scheduled for the end of March 2028, with overall completion planned for the end of October 2028. Construction began on January 12, 2024, and the groundbreaking ceremony was held on March 13, 2024.Q2. When will Canopy by Hilton Tokyo Akasaka open and how many rooms will it have?
A. The hotel is scheduled to open in 2028 with a total of 174 rooms (including 24 suites). It is drawing considerable attention as the first Kanto-region location of Hilton's lifestyle hotel brand, Canopy by Hilton.Q3. How will the connection to Akasaka Station work?
A. The East Block will be directly connected to Akasaka Station on the Tokyo Metro Chiyoda Line, creating a "station-city integrated" pedestrian network. An approximately 4,900 m² plaza space will be developed from B2F to ground level, also improving connectivity to the TBS Akasaka Sacas area.Q4. How does this relate to other redevelopment plans in the Akasaka area?
A. This project is part of a broader redevelopment wave in the Akasaka area, including the Akasaka 7-Chome 2-Banchi District (residential redevelopment) and the Akasaka 1-Chome District, among others. With multiple redevelopment projects advancing in concert, the overall appeal of the broader area — including the Tameike-Sanno and Akasaka-Mitsuke station areas — is being elevated. For more details, please also refer to the Akasaka 7-Chome 2-Banchi Redevelopment Project Complete Guide.References
- Mitsubishi Estate Co., Ltd. "Two buildings to become Akasaka's new landmarks, set for completion in 2028 — Akasaka 2-6 Chome District Redevelopment Plan: Construction commences / Certified as Private Urban Redevelopment Project Plan" (March 13, 2024)
- Mitsubishi Estate Co., Ltd. "Akasaka 2-6 Chome District Redevelopment Plan: National Strategic Special Zone Plan Certification" Press Release PDF (November 2021)
- Tokyo Metro "Realizing 'station-city integrated' development at Tokyo Metro Akasaka Station in conjunction with the Akasaka 2-6 Chome District Redevelopment Plan" (November 18, 2021)
- Tokyo Metropolitan Government Bureau of Urban Development "Akasaka 2-6 Chome District Redevelopment Plan | Imperial Palace Surrounding Area / Urban Renaissance Special District Pre-consultation"
- Cabinet Office, Regional Revitalization Promotion Secretariat "Urban Renaissance Special District (Akasaka 2-6 Chome District) Urban Plan (Draft)" — 19th Tokyo Metropolitan Urban Renaissance Subcommittee Distributed Materials
- Mitsubishi Jisho Sekkei "Akasaka 2-6 Chome District Redevelopment Plan" Project Page
