Growth optionality in property for JR East

For context, Amtrak, the largest passenger rail network in the US, carries just 31 million passengers per year. JR East services the Greater Tokyo region and its population of over 35 million people. Tokyo remains the one area in Japan where the population continues to grow each year. Whilst in Tokyo, I was given a 1-on-1 tour of JR East’s Y500 billion (US$4.6 billion) Shinagawa redevelopment project. Shinagawa is the last major land parcel to be developed in Greater Tokyo. The redevelopment site covers almost 14 hectares and will include seven new buildings (scheduled to open between 2024 and 2027) plus a new railway station (Takanawa Gateway Station) that will open in time for the Tokyo Olympics.

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