Shibuya Landscape Changing with Large Redevelopment


Tokyo, July 27 (Jiji Press)--Tokyo's Shibuya district, known as Japan's area for young people, is changing in appearance amid ongoing large-scale redevelopment aimed at attracting a diverse range of people regardless of age and nationality.

A series of large commercial facilities is opening this autumn, while office demand is increasing with Google LLC's Japanese subsidiary set to move to the district, where Japanese information technology firms DeNA Co. <2432> and CyberAgent Inc. <4751> have their headquarters.

Shopping center operator Parco Co. <8251> will open the Shibuya Parco commercial complex in November. The new store, with three underground levels and 19 floors aboveground, will offer fashion items for a wide range of customers, with one floor featuring Japanese culture such as anime.

"We're hoping to make the store a new base for supporting young people, new businesses and urban development, as well as for spreading information," Parco President Kozo Makiyama said.

Railway operator Tokyu Corp. <9005> and others will open Shibuya Scramble Square, also in November. The facility, with seven underground levels and 47 floors aboveground, will feature world-famous apparel and cosmetics brand stores along with an observatory deck on its rooftop level some 230 meters above the ground. High floors will be used as offices for rent.

[Copyright The Jiji Press, Ltd.]

Jiji Press