News Release
ORIX Chosen as a Developer for Second Zone (Area for Private-sector Proposals), Umekita Area
Jul 12, 2018
TOKYO, Japan – July 12, 2018 – A joint venture of nine companies, led by Mitsubishi Estate Co., Ltd. announced that having formed a consortium with the six design firms and operators, and having submitted an application under the Invitation to Developers for the Second Zone (Area for Private-sector Proposals) in the Umekita Area, has been selected by the Urban Renaissance Agency, organizer for the project, as the developer of the project.
Based on the philosophy behind the project’s urban development policy of fusing midori (open green space) with innovation, and leveraging its previous development track record with Grand Front Osaka, the advance development zone project, the consortium will lead new urban development from Umekita, to Osaka, to the entire Kansai region and worldwide.
■Land Subject to the Proposal
(North Block)
Location: Osaka Urban Planning Project, Osaka Station North Ofukanishi District, Block 6 in the area for the Land Readjustment Project
Area: 15,726 m2
(South Block)
Location: Osaka Urban Planning Project, Osaka Station North Ofukanishi District, Block 9 in the area for the Land Readjustment Project
Area: 30,429 m2
■Joint venture of 15 firms
(NineDevelopers)
Mitsubishi Estate Co., Ltd.; Osaka Gas Urban Development Co., Ltd.; ORIX Real Estate Co., Ltd.; Kanden Realty & Development Co., Ltd.; Sekisui House, Ltd.; Takenaka Corporation; Hankyu Corporation; Mitsubishi Jisho Residence Co., Ltd.; Umekita Development Specific Purpose Company
(Six Design Firms and Operators)
Mitsubishi Jisho Sekkei, Inc.; Nikken Sekkei Ltd.; SANAA (Seijima and Nishizawa and Associates); Gustafson Guthrie Nichol Ltd. *; Hibiya Amenis Corporation; Hankyu Hanshin Properties Corp.
*A U.S.-based landscape design firm.
■Estimated Project Schedule
Land delivery: Phased handover beginning September, 2020
Start of private-sector residential construction: Phased construction beginning October 2020
Zone primary completion: Around summer, 2024 (opening of some private-sector facilities and a portion of urban parks)
■Project Overview (Estimates as of this date; subject to change based on government discussions, etc.)
Private-sector Plan Specifications
| Zone | North Block | South Block |
|---|---|---|
| Area | 15,726 m2 | 30,429 m2 |
| Total floor area | 146,900 m2 | 374,660 m2 |
| Rentable area | 110,000 m2 | 319,410 m2 |
| Building ratio to lot | 700% | 1,050% |
| Facilities | Hotel, innovation facilities, platform facilities, offices, commercial facilities, residences for sale, parking lot | Offices, hotel, commercial facilities, urban spa, MICE facilities, innovation facilities, residences for sale, parking lot |
| Structure and scale | S (partially RC or SRC) 28 floors above-ground, two below-ground, height of 150 m RC (partially S) 47 floors above-ground, two below-ground, height of 176 m |
S (partially RC or SRC) 39 floors above-ground, three below-ground, height of 182 m RC (partially S) 51 floors above-ground, two below-ground, height of 185 m |
Urban Park Plan Specifications
| Zone | North Block | South Block |
|---|---|---|
| Area | 20,000 m2 | 25,000 m2 |
| Facility building area | 5,935 m2 | |
| Total facility floor area | 12,500 m2 | |
| Facilities | Restaurants, shops, museum, active learning facilities, rest areas | Restaurants, shops, management office, active learning facilities, stockpile warehouse, event rooms, plaza with covered outdoor theater |
Contact Information:
ORIX Corporation
Corporate Planning Department
Tel: +81-3-3435-3121
About ORIX:
ORIX Corporation (TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX’s highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 38 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. For more details, please visit our website:https://www.orix.co.jp/grp/en/
(As of March 31, 2018)
Caution Concerning Forward Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2017 - March 31, 2018.”
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