Nomura Real Estate Advances 780-Unit Mixed-Use Development in Monzen-Nakacho

Nomura Real Estate is advancing a large-scale mixed-use development in Etchujima 1-chome, Koto-ku, Tokyo, comprising the PROUD CITY Monzen-Nakacho condominium, the Oukas Monzen-Nakacho rental senior residence and retail facilities. On October 16, 2026, the company released details of the plan, including the district name TOKYO BLUE LINC. A general fixed-term land lease of approximately 70 years has been established on approximately 1.7 hectares (approx. 183,000 sq. ft.) of land owned by Institute of Science Tokyo, where 780 housing units, retail facilities and community functions will be developed in an integrated manner. Nomura Real Estate will develop all of the facilities on its own.

PROUD CITY Monzen-Nakacho will be a 19-story building with 667 units, including 47 units not offered for sale. It is a three-minute walk from Etchujima Station on the JR Keiyo Line and a seven-minute walk from Monzen-nakacho Station on the Tokyo Metro Tozai Line and Toei Oedo Line. Completion is scheduled for late December 2027, with move-ins scheduled for late March 2028.

Oukas Monzen-Nakacho will be a nine-story building with 113 units. It is the 11th property under Nomura Real Estate's Oukas senior residence brand, will be operated by Nomura Real Estate Wellness and is scheduled for completion in late March 2028. In the retail facilities, a supermarket and other stores will open in a space of more than 450 tsubo (approx. 16,000 sq. ft.), and four units for daily convenience facilities are also planned, with openings scheduled for fiscal 2028.

The fixed-term land lease agreement was concluded in March 2023 with Tokyo Medical and Dental University, one of the predecessors of Institute of Science Tokyo. Institute of Science Tokyo was designated a University for International Research Excellence by the Ministry of Education, Culture, Sports, Science and Technology (MEXT) in January 2026 and is making use of its assets to enhance education and research.

Nomura Real Estate has been working on the utilization of university land. In July 2026, it announced the University of Tokyo Nishi-Chiba Campus Site Utilization Project, undertaken by six real estate companies, and in July 2024 it signed a basic agreement with Ochanomizu University on a development project for the site of a former alumni hall (see related article: Large Public Plaza Opens at Redevelopment of Former University of Tokyo Site by Nomura Real Estate, Partners).

Key Facts

• District Name: TOKYO BLUE LINC
• Developer: Nomura Real Estate Development Co., Ltd.
• Landowner: Institute of Science Tokyo (National University Corporation)
• Land Rights: General fixed-term land lease (approximately 70 years, contracted in March 2023)
• Location: Etchujima 1-chome, Koto-ku, Tokyo
• Total Units: 780 (667 condominium units / 113 rental senior residence units)
• Site Area: Approximately 5,435 tsubo (approx. 193,400 sq. ft.)
• Use: Condominium / Rental senior residence / Retail facilities / Community building
• Property Name: PROUD CITY Monzen-Nakacho
• • Nearest Station(s): Three-minute walk from Etchujima Station on the JR Keiyo Line / Seven-minute walk from Monzen-nakacho Station on the Tokyo Metro Tozai Line and Toei Oedo Line / Nine-minute walk from Tsukishima Station on the Tokyo Metro Yurakucho Line and Toei Oedo Line
  • Number of Floors: 19F (reinforced concrete construction, partially steel-frame and timber construction)
  • Total Units: 667 (including 47 units not offered for sale)
  • Sales Launch: Mid-November 2026 (scheduled)
  • Completion: Late December 2027 (scheduled)
  • Move-in: Late March 2028 (scheduled)
  • Seller: Nomura Real Estate Development Co., Ltd.
  • Construction: Maeda Corporation
• Property Name: Oukas Monzen-Nakacho
• • Nearest Station(s): Four-minute walk from Etchujima Station on the JR Keiyo Line / Eight-minute walk from Monzen-nakacho Station on the Tokyo Metro Tozai Line and Toei Oedo Line
  • Number of Floors: 9F (reinforced concrete construction)
  • Total Units: 113
  • Completion: Late March 2028 (scheduled)
  • Operator: Nomura Real Estate Wellness Co., Ltd.
  • Construction: Maeda Corporation