NTT Urban Development

What NTT Urban Development does

NTT Urban Development (NTT都市開発株式会社) is a Tokyo-headquartered real estate development company established in 1986 and operating as a wholly-owned subsidiary of NTT Urban Solutions, itself part of the NTT Group. The company was publicly listed on the Tokyo Stock Exchange First Section (ticker 8933) from November 2004 until January 8, 2019, when it was delisted following NTT's successful tender offer at 323,000 yen per share. It operates across five core business segments: office buildings, commercial facilities, hotels, residential (under the Wellith / ウエリス brand), and global/international real estate, supported by affiliated services such as the LIFORK co-working brand.

The company's development model integrates NTT Group's ICT, energy, and environmental technology resources into urban projects, marketed as a differentiator versus non-telecom-affiliated developers. Its portfolio spans large-scale district redevelopments (notably HIBIYA CROSSPARK, approximately 1.1 million sqm, co-developed with NTT, Mitsui Fudosan, Dai-ichi Life, and others), a hotel portfolio of 7 operating properties expanding to 8 facilities and 1,351 rooms (including international brand operators Hyatt, Capella, voco, and Ace Hotel), the Wellith condominium brand, and international residential operations in the US (New York, Boston, Dallas, Orlando, Atlanta), the UK (London, office established 2009), and the Philippines (Manila/Pasig and Cebu). Recent recognition includes the 2026 ULI Asia Pacific Awards for Excellence for HARUMI FLAG, the 2025 MIPIM Reggie Shiu Development of the Year for Patina Osaka, and MICHELIN Key awards for three hotel properties.

Revenue is generated through a mix of recurring streams (office and commercial leasing, hotel operations via subsidiary NTT Urban Development Hotel Management) and transactional streams (condominium sales under the Wellith brand, international real estate development, and one-off project management). GTM is enterprise field sales with direct negotiations for office leasing, dedicated sales galleries for residential, and management contracts with international hotel brands. The company runs six regional offices in Japan (Tokyo HQ plus Hokkaido, Nagoya, Osaka, Hiroshima, Fukuoka) and international offices in New York, Boston, Dallas, London, and Singapore (via subsidiary NTT UD Asia Pte. Ltd.). Since 2019, with no public reporting obligation, current revenue figures are not disclosed; the most recent reported operating revenue was 110.8 billion yen for FY March 2006.

Name

NTT Urban Development

Legal name

NTT都市開発株式会社

Website

https://nttud.co.jp

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

501–1,000 employees

Short description

NTT Urban Development is a Tokyo-based, NTT Group-owned real estate developer that builds, owns, and manages office buildings, commercial facilities, hotels, residential condominiums under the Wellith brand, and international projects across the US, UK, and Asia-Pacific.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (23721)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Smart Cities & Urban Innovation Programs (Digital Planning, Civic Tech for Cities) (BPAIANAJ)

akta.pro secondary industry

Sustainable Cities, Urban Development & Green Infrastructure (BPADALAL)

Keywords

• Real estate development
• Office buildings leasing
• Commercial property management
• Residential condominium sales
• Hotel development operations

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Real Estate Leasing: Leasing of office buildings and commercial facilities owned by the company, generating recurring rental income from tenants.
2. Condominium Sales: Development and sale of residential condominiums under the 'Wellith' brand, generating one-time transaction revenue.
3. Hotel Ownership and Management: Ownership of hotels with management through subsidiary NTT Urban Development Hotel Management, operating brands including Hyatt Centric, Capella, Ace Hotel, and voco. Currently operates 7 hotels with 8 facilities and 1,351 rooms planned.
4. International Real Estate: Development and operation of real estate projects outside Japan, including US residential developments and Philippines condominiums.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

NTT Urban Development is a comprehensive real estate developer that plans, develops, owns, and manages office buildings, commercial facilities, hotels, and residential condominiums across Japan and select international markets. The company integrates NTT Group's ICT, energy, and environmental technologies into its developments to create smart, sustainable urban environments. It sells residential units under the Wellith brand, operates hotels under international brand partnerships, and develops large-scale mixed-use urban redevelopment projects.

Product overview

NTT Urban Development is a comprehensive real estate development company operating as part of the NTT Urban Solutions Group. The company offers a multi-segment portfolio consisting of office buildings, commercial facilities, hotels, and residential properties under the Wellith brand. Their operations span property development, ownership, and management, with services including urban development consulting, building design, and ICT/energy management delivered through affiliated group companies. The company also maintains significant global operations in the US, UK, and Philippines markets.

Differentiator

Problem solved

Functional benefit

Brands

• ウェリス (Wellith): Residential housing brand offering condominiums and apartments under the WELLITH brand for quality living

Products and services

• Office Buildings (オフィスビル)
• Commercial Facilities (商業施設) Shopping centers and retail space development that creates vibrant urban destinations connecting people and communities. Examples include Pacela Hiroshima (regenerated commercial facility), Shinpuhkan in Kyoto, and SHIP Kyoto.
• Hotels (ホテル) Hotel development, ownership, and management in partnership with international hotel operators including Hyatt (Hyatt Centric Sapporo), Capella Hotel Group (Capella Kyoto), Ace Hotel (Ace Hotel Kyoto), voco, and Patina (Patina Osaka). Currently 7 operating hotels with a planned 8th property (Hyatt Centric Sapporo) bringing total to 1,351 rooms.
• Wellith (ウエリス) Residential Brand Residential housing sub-brand offering high-quality condominiums and rental apartments. Provides comfortable living spaces for a wide range of generations, from young professionals to families, with modern amenities and sustainable features. Recent offerings include Wellith Shin-Aiguchi (sales started June 20, 2026) and Wellith Tower Hirakata Kuzuha.
• Global International Real Estate International real estate development operations across the US (New York, Boston, Dallas, Orlando, Atlanta), UK (London office established 2009), and Philippines (Manila). Focuses on residential and mixed-use developments.
• LIFORK Co-working Brand Flexible workspace and co-working facilities offering diverse work environments for businesses and individuals, branded under the LIFORK sub-brand.
• HARUMI FLAG Residential Development Major residential development project in Tokyo's Harumi district, recognized with the 2026 ULI Asia Pacific Awards for Excellence for excellence in real estate and urban development.
• Capella Kyoto (Hotel) Luxury hotel in Kyoto with 89 rooms, featuring signature restaurant 'SoNoMa by SingleThread' collaboration with a Michelin three-star restaurant. Located near Kennin-ji temple. Capella is the first Capella property in Japan.
• Hyatt Centric Sapporo (Hotel) Hotel property with 216 rooms (including 9 suites) located in Urban Net Sapporo Link Tower, scheduled to open in fall 2026. Operated by Hyatt Hotels Corporation and represents Hyatt's first property in Sapporo.
• NOVEL Lulah Hills (Atlanta Rental Development) 303-unit rental apartment development in Decatur, Georgia (Atlanta metro area). 6-story building using wooden frame construction (2x4 materials) from the second floor up. Joint development with Crescent Communities (a Sumitomo Forestry subsidiary) and Sumitomo Forestry.
• HIBIYA CROSSPARK Mixed-Use Development Major mixed-use urban redevelopment project in central Tokyo with approximately 1.1 million sqm total floor area. Includes office, commercial, and hotel spaces. Co-developed with NTT, NTT East, Dai-ichi Life Insurance, Chuo-Nihon Land Building, Teikoku Hotels, Tokyo Century, TEPCO Holdings, and Mitsui Fudosan.
• Pasig Project (Manila Condominium) Approximately 5,800-unit condominium project in Pasig, Metro Manila, Philippines. Joint development with Cebu Landmasters Inc. (CLI). Represents NTT Urban Development's second development project in the Philippines following 'The Wave Towers' in Cebu.

Quantifiable outcome

• Currently operates 7 hotels with 1,351 rooms planned by 2026
• +1 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

17 partnerships are on record, tiered major and core.

• HitachimajorStrategic or Co-development Partner · 25 May 2026Participating in Tokyo robot city testbed project in Meguro Ward, handling main construction and site redevelopment for humanoid robots, automated transport, and AI-powered services.
• DensomajorStrategic or Co-development Partner · 25 May 2026Participating in Tokyo robot city testbed project with approximately 70 companies and organizations for physical AI development.
• Hyatt Hotels CorporationmajorStrategic or Co-development Partner · 12 May 2026Hotel operator for Hyatt Centric Sapporo (216 rooms) opening fall 2026 in Urban Net Sapporo Link Tower. Hyatt's first property in Sapporo.
• NTTcoreStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK, a major urban redevelopment project with approximately 1.1 million sqm total floor area in Tokyo.
• NTT EastcoreStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK urban redevelopment project in Uchisaiwai-cho, Chiyoda-ku, Tokyo.
• Dai-ichi Life InsurancemajorStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK, a large-scale mixed-use development project in central Tokyo.
• Chuo-Nihon Land BuildingmajorStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK urban redevelopment project.
• Teikoku HotelsmajorStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK, involved in hotel component of the large-scale development.
• Tokyo CenturymajorStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK urban redevelopment project.
• TEPCO HoldingsmajorStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK, contributing power infrastructure expertise to the large-scale development.
• Mitsui FudosanmajorStrategic or Co-development Partner · 14 April 2026Co-developer of HIBIYA CROSSPARK, contributing real estate development expertise.
• Sumitomo ForestrymajorStrategic or Co-development Partner · 26 March 2026Joint development of NOVEL Lulah Hills 303-unit apartment complex in Atlanta, Georgia. Second joint project following Dallas apartment development. Sumitomo Forestry ranked 4th nationally in apartment units scheduled to start construction in 2024.
• Crescent CommunitiesmajorStrategic or Co-development Partner · 26 March 2026Joint development of NOVEL Lulah Hills 303-unit rental apartment in Decatur, Georgia (Atlanta metro). 100% subsidiary of Sumitomo Forestry. Groundbreaking March 12, construction starts December 2025, completion 2028.
• EDENSmajorStrategic or Co-development Partner · 26 March 2026Major US shopping center developer leading Lulah Hills mixed-use redevelopment (30+ ha) where NOVEL Lulah Hills rental apartments are being developed in Decatur, Atlanta area.
• Capella Hotel GroupmajorStrategic or Co-development Partner · 25 February 2026Luxury hotel operator for Capella Kyoto (89 rooms) opening March 2026, featuring signature restaurant SoNoMa by SingleThread (Michelin 3-star). First Capella property in Japan.
• Cebu Landmasters Inc. (CLI)majorStrategic or Co-development Partner · 17 February 2026Joint development of approximately 5,800-unit condominium project 'Pasig Project' in Metro Manila, Philippines. Second development project in Philippines following 'The Wave Towers' in Cebu. CLI is a real estate development company with 2024 sales of 19,525 million pesos.
• Yamada DenkimajorChannel Partner/ Reseller/ Distributor · 20 January 2026LABI LIFE SELECT Pacela Hiroshima (approx. 4,000 tsubo, 6 floors) to open fall 2026 in regenerated Pacela commercial facility. First LABI LIFE SELECT in Chugoku/Shikoku/Kyushu area.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Mitsui Fudosan: Japan's largest comprehensive real estate developer; co-developer with NTT UD on HIBIYA CROSSPARK. Operates office, retail, hotel, and residential businesses across Japan and globally with comparable mixed-use urban redevelopment focus.
• Tokyu Land Corporation: Japanese real estate developer with diversified portfolio including offices, residential, retail, and hotels. Competes with NTT UD in Tokyo and other major Japanese metropolitan areas for mixed-use development opportunities.
• Hulic: Tokyo-focused real estate company with significant office and hotel portfolio. Competes with NTT UD in central Tokyo office leasing and in the hospitality segment.
• Mori Building: Tokyo-focused developer of premium mixed-use towers (Roppongi Hills, Toranomon Hills). Competes directly with NTT UD in central Tokyo office, residential, and mixed-use developments.
• Sumitomo Realty & Development: Major Japanese real estate developer with strong condominium and office leasing operations. NTT UD's Wellith brand competes with Sumitomo's condominium offerings in major Japanese cities.
• Tokyo Tatemono: Japanese real estate developer specializing in office buildings in central Tokyo. Direct competitor in the office leasing segment and broader commercial property market.
• Crescent Communities: US-based multifamily and mixed-use developer (Sumitomo Forestry subsidiary) co-developing NOVEL Lulah Hills with NTT UD in Atlanta. Direct partner and comparable in US Sun Belt rental housing development.
• Mitsubishi Estate: Major Japanese real estate developer with large office portfolio in Marunouchi and significant mixed-use redevelopment pipeline. Competes head-to-head with NTT UD for prime central Tokyo office and commercial tenants.

Broad incumbents

• Sekisui House: Major Japanese homebuilder with growing international operations including US rental housing. Comparable to NTT UD's international residential expansion strategy and Wellith condominium brand.
• Daiwa House Industry: Japan's largest homebuilder and a broad real estate conglomerate with operations across residential, commercial, logistics, and international development. Overlaps with NTT UD's Wellith residential brand and international expansion strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/nttud
• YouTubeyoutube.com/channel/UCqZeB2NVYZe48Hz5tWdWU0w
• LinkedInlinkedin.com/company/ntt-urban-development-corp-ny5-
• Facebookfacebook.com/nttud

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NTT Urban Development