Tall & Urban News

Real estate giant HULIC is embarking on a redevelopment project that will see an older office building demolished to make way for a new data center in Nihonbashi.

This will be the first data center developed by HULIC. The company is forecasting the domestic data center market to grow annually by over five percent in the coming years. With the growing demand for high-speed and high-volume data transmission, there is a need for data centers in the city center.

The existing eight-story Kobunacho Kinen-Kaikan Building was built in 1982. Office tenants were fully vacated by the end of March, with demolition to follow. The new building will also be eight stories with one basement. Completion is expected in 2025.

For more on this story, go to Japan Property Central.