Tokyo Metro Urban Development Co., Ltd.
The real-estate development arm of Tokyo Metro, developing and leasing station-adjacent offices, commercial facilities, hotels and residences in central Tokyo.
Last updated September 27, 2026
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Overview
Tokyo Metro Urban Development Co., Ltd. (東京メトロ都市開発株式会社) is a Japanese real-estate developer and a wholly owned subsidiary of Tokyo Metro Co., Ltd. (Tokyo Metro). Headquartered in Shinjuku, Tokyo, the company traces its origins to 1963, when it was established as Kabushiki Kaisha Chikatetsu Building (株式会社地下鉄ビルデイング), the first wholly owned subsidiary of the then Teito Rapid Transit Authority (営団). It adopted its current name on April 1, 2018. The company's business spans real-estate development, building leasing, and operation and management. Its development activities include planning, research, consulting, brokerage, design and construction management. Its leasing portfolio centers on office buildings near Tokyo Metro stations, alongside commercial facilities, hotels and residential properties. It also operates and manages restaurant districts, sports facilities, building maintenance, environmental sanitation and security services, and sells and manages outdoor billboard advertising space on buildings in prime central Tokyo locations. Historically, the company built and operated landmark station-integrated properties such as the Shinjuku Subway Building (completed 1966), the Aoyama Metro Hall (1971), the Shibuya Subway Building (1974) and Belle Vie Akasaka (1979). It operates rental buildings and apartment projects under the brands "Metro City," "Metro Stage" and "M Place." Several of its former commercial operations, including Belle Vie Akasaka and the Metro M facilities, were transferred to Metro Properties in 2006. Recent completions include M Place Hatandai (2024) and Metro Stage PLUS Nakano Yayoi-cho (2024). As part of the Tokyo Metro Group, the company contributes to urban development along the subway network, leveraging station-adjacent real estate to create integrated commercial, office and residential spaces.
History
The company was established on February 11, 1963, as Kabushiki Kaisha Chikatetsu Building (株式会社地下鉄ビルデイング), the first wholly owned subsidiary of the Teito Rapid Transit Authority (営団, later Tokyo Metro). Its founding capital was 50 million yen. The first president was Suzuki Kiyohide. The company was created to build and operate buildings integrated with subway stations, beginning with the Shinjuku Subway Building. The Shinjuku Subway Building was completed on August 25, 1966, and the Shinjuku Metro Restaurant District began operating on September 9, 1966. In 1971, the Aoyama Metro Hall was completed (March 15), followed by the Shibuya Subway Building on March 15, 1974, and the start of Shibuya Metro Plaza operations on March 18, 1974. In 1978, the company jointly established C.I. Metro Building Co., Ltd. with Itochu Corporation (32.74% stake) to operate the Belle Vie Akasaka building, which was completed on September 26, 1979. Capital was increased to 100 million yen in 1979. In 1998 and 1999, the company raised its stake in C.I. Metro Building to 52.74% and then 70.00%, and in 1999 the company was renamed Belle Vie Metro Co., Ltd. In 2000, the head office moved to the 16th floor of Shinjuku El Tower, and on October 1, 2000, the company absorbed Belle Vie Metro and Metro Mall Co., Ltd., increasing capital to 106 million yen. In 2005, Aoyama Metro Hall closed to make way for a joint development with Tokyo Metro; construction of the South Aoyama 2-chome Building (later AOYAMA M's TOWER) began on April 1, 2005, and the building was completed on March 31, 2008. On July 1, 2006, operations of Belle Vie Akasaka, Metro M Korakuen and Metro M Takashimadaira were transferred to Metro Properties Co., Ltd. On October 2, 2006, the company began operations as a new entity, Kabushiki Kaisha Chikatetsu Building, through a company split. In 2007, it opened a first-class architectural design office, and in 2008 obtained a real-estate brokerage license. On April 1, 2011, the company succeeded the building management business of Chikatetsu Maintenance Co., Ltd. through an absorption-type split. On April 1, 2013, it absorbed Metro Sports Co., Ltd. On April 1, 2018, the company changed its name to Tokyo Metro Urban Development Co., Ltd. and moved its head office from the 16th to the 19th floor of Shinjuku El Tower. The Shinjuku Metro Restaurant District closed on September 30, 2020, and the Shinjuku Subway Building closed on October 2, 2022. In 2024, M Place Hatandai was completed on May 15, and Metro Stage PLUS Nakano Yayoi-cho was completed on November 30.
Established as Kabushiki Kaisha Chikatetsu Building with capital of 50 million yen.
Shinjuku Subway Building completed.
Shinjuku Metro Restaurant District begins operation.
Aoyama Metro Hall completed.
Shibuya Subway Building completed.
Shibuya Metro Plaza begins operation.
Established C.I. Metro Building Co., Ltd. jointly with Itochu Corporation (32.74% stake).
Capital increased to 100 million yen.
Belle Vie Akasaka completed.
Acquired 20,000 shares of C.I. Metro Building, raising stake to 52.74%.
Products and positioning
Station-adjacent urban developer and property manager within the Tokyo Metro Group, focused on integrated development along subway lines in central Tokyo.
AOYAMA M's TOWER
Mixed-use building completed in 2008, comprising a low-rise section and a 25-story high-rise with hotel, rental apartments and commercial tenants.
Shibuya Subway Building
Completed in 1974, with Shibuya Metro Plaza on lower floors and offices above.
M Place Hatandai
Residential/commercial project completed in 2024.
Metro Stage PLUS Nakano Yayoi-cho
Residential project completed in 2024.
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