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This coming December, it will start leasing a building in Yokohama's Totsuka Ward, and next year it will subdivide 71,000 sq. meters of floor space as part of a redevelopment project there. Starting in the autumn of 2010, it will develop large commercial properties in Tokyo's Setagaya and Shibuya wards and Osaka's Abeno Ward.
When all the large properties on the drawing board are in service at the end of the year to March 2015, the firm expects to have 170,000 sq. meters in commercial property rental space, compared with the 107,000 sq. meters projected for the end of the year to March 2010. Floor space per facility will roughly double from today's as well.
Tokyu Land is also revamping how facilities are managed. In January, the firm established Tokyu Land SC Management in partnership with subsidiary Tokyu Community Corp. (TSE:4711) and entrusted management of such facilities as Shibuya Tokyu Plaza to it. And an in-house operations improvement council was created in April.
(Nikkei) rw
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