Real Estate Development

Contributing to the creation of attractive communities

We develop and own excellent leasing properties in prime locations, primarily in metropolitan areas. We adopt environmentally considerate technologies to enhance energy-saving performance and tenant comfort, providing safe and secure spaces to support tenant companies' business continuity.

In the urban redevelopment business, we are actively involved in the operation of large-scale projects, having accumulated extensive expertise from our experience in numerous projects as a project partner and specified agent.

Net Sales
Operating Income

Net Sales Transition (FY ended March 31)

  • 2019

    JPY 55.0 bn

  • 2018

    JPY 49.1 bn

  • 2017

    JPY 44.5 bn

(Figure are as of March 31, 2020)

Business Policy

Obayashi will continue investing in rental office development projects, especially in central Tokyo, and undertake new investments to diversify our leasing portfolio, including residential and logistics facilities. In the property sales business, our focus is on developments that leverage the technological capabilities and expertise of the Obayashi Group.

Outside Japan, we are researching markets including those in Southeast Asia and aim to expand our business by collaborating with the Asia-Pacific Regional Headquarters.

We will continue using our expertise and help develop sustainable communities through forward-thinking real estate development powered by IoT, AI, and our concern for the environment.

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Opportunities and Risks in Business Environment


  • Continued redevelopment in the urban areas of Tokyo and Osaka and solid office demand
  • Increasing importance of environmentally responsible real estate development projects as ESG investment rises
  • Increasing demand for facility management that leverages innovations like IoT and AI


  • Increasing competition to secure tenants in urban cores owing to large supply of office buildings
  • Price of land to buy for business jumps too high
  • Risk of losses from real estate price drops when economy worsens

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Business Strategy

  • Strengthen stable earnings base through further investment in the office leasing business (focusing on the key area of central Tokyo)
  • Continue to develop business selling detached housing and condominiums located in the Tokyo metropolitan area and major cities in the Kansai region
  • Promote development of new rental housing, logistics facilities, and so forth to drive diversification of the leasing portfolio
  • Contribute to creation of a low-carbon society and sustainable communities by promoting environmentally responsible real estate development projects
  • Promote facility management that leverages innovation such as IoT and AI
  • Contribute to construction business by using real estate development expertise to create added value

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