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Japan Real Estate Insights by estie
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Meitetsu City Design and Tosei Launch Joint Condominium Development in Asakusa

CondominiumNew development

Meitetsu City Design and Tosei Launch Joint Condominium Development in Asakusa

Meitetsu City Design and Tosei Launch Joint Condominium Development in Asakusa

Meitetsu City Design Co.,Ltd. and Tosei Corporation have launched a joint development project for a for-sale condominium currently under development in Asakusa, Taito Ward, Tokyo, tentatively named the “Asakusa Project.” Tosei has acquired a partial ownership interest in a project that had been solely developed by Meitetsu City Design, converting it into a joint venture between the two companies. The transaction is based on the capital and business alliance agreement signed in May 2024 between Tosei and Nagoya Railroad Co., Ltd., the parent company of Meitetsu Urban Development.

The project site is located an eight-minute walk from Asakusa Station on the Tobu Skytree Line and a nine-minute walk from Asakusa Station on the Tokyo Metro Ginza Line. The development will be a 14-story reinforced concrete condominium with a total of 61 residential units, scheduled for completion in March 2026. Unit sizes will range from approximately 30 to 50 square meters, with layouts primarily consisting of 1LDK and 2LDK units targeting singles and dual-income households (DINKs).

Common areas, including the entrance, will feature designs inspired by traditional Japanese craftsmanship, incorporating motifs that evoke the Sumida River fireworks. A rooftop terrace is also planned, offering views and accommodation for viewing the Sumida River Fireworks Festival.

According to an editorial survey based on estie residential research, asking rents for newly built rental condominiums within a 10-minute walk of Asakusa Station (completed in 2025 or later, unit sizes of 30–50 square meters) have remained stable at the mid–JPY 18,000 range per tsubo.

Key Facts

  • Property Name: (Tentative) Asakusa Project

  • Project Name: (Tentative) Asakusa Project

  • Developer: Meitetsu City Design Co.,Ltd.

  • Joint Venture Partner: Tosei Corporation

  • Location: 6-18 Asakusa, Taito Ward, Tokyo

  • Nearest Stations:

    • Asakusa Station (Tobu Skytree Line), 8-minute walk

    • Asakusa Station (Tokyo Metro Ginza Line), 9-minute walk

  • Completion: March 2026 (scheduled)

  • Number of Floors: 14F / B0

  • Gross Floor Area: Approx. 1,005 tsubo (approx. 35,770 sq. ft.)

  • Total Units: 61 (planned)

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