Itochu Urban Development

What Itochu Urban Development does

Itochu Urban Development Co., Ltd. (伊藤忠都市開発株式会社) is a Japanese for-profit real estate developer and wholly-owned subsidiary of Itochu Corporation, one of Japan's major diversified trading companies (sogo shosha). The company develops and sells newly constructed residential condominiums and detached houses under the CREVIA brand, targeting individual homebuyers and families seeking owner-occupied housing in the Greater Tokyo metropolitan area (Tokyo, Kanagawa, Saitama, Chiba) and the Kansai region (Osaka, Kyoto, Hyogo, Nara, Wakayama). By end of December 2024, the company had cumulatively supplied over 39,000 units of fixed-term land leasehold condominiums, and active project marketing covers properties such as CREVIA Yokohama Portside, CREVIA Machiya Residence, CREVIA Hamadayama, CREVIA Tsurumi Kogetsuen Koen, CREVIA Ekoda, and CREVIA Nishikokubunji.

The company operates through an integrated three-company model within the Itochu Group: Itochu Urban Development handles land acquisition and property development, Itochu Housing Co., Ltd. manages sales operations, and Itochu Urban Community Co., Ltd. provides post-sale property management and resident services. Differentiated product features include the MOT Kitchen (developed with Takara Standard based on user behavior video analysis and segmented into Work, Cooking, Intermediate, and Water zones), the MOT Linen original washroom/laundry space, the CREVIA STANDARD quality framework (~300 checklist items updated annually), the CREVIA LIFE HUG disaster-prevention program, the Softina whole-home water softening system, and smart-home IoT features (voice/smartphone-controlled air conditioning and TV, smart plugs, smart cameras, CO2 sensors). Properties carry ZEH-M Oriented energy certification (20% primary energy reduction vs. standard requirements) and Low-Carbon Building certification. The company has received Good Design Awards across 2005–2025 and a Suumo Award 2024 Best Award.

The business model is based on one-time purchase transactions of condominium units (either outright ownership or fixed-term land leasehold), with 3LDK units typically starting from ¥69.4 million. Go-to-market is sales-led through three physical gallery showrooms (Shinjuku Mines Tower, Yurakucho Itopia, Yokohama Sky Building), supported by the itochu-sumai.com website, the CREVIA TIMES lifestyle magazine, the @crevia_sumai Instagram account, the I'SALON resident portal, the CREVIA CLUB owner membership program, and the annual CREVIA Thanks Festa resident event. A secondary rental apartment sub-brand, CREVIA RXE, broadens recurring-revenue exposure beyond for-sale product. The company is led by Representative Director and President Matsu Norio (松 典男).

Name

Itochu Urban Development

Legal name

伊藤忠都市開発株式会社

Website

https://itochu-sumai.com

Company type

Private

Operating status

Operating

Short description

Itochu Urban Development is a Japanese for-profit real estate developer and wholly-owned subsidiary of Itochu Corporation. Under the CREVIA brand, it builds and sells new residential condominiums and detached houses to individual homebuyers in the Greater Tokyo metropolitan area and Kansai region of Japan.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Residential Property Managers (531311)

SIC

Operators Of Apartment Buildings (6513), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

Keywords

• Residential real estate development
• New condominium sales
• Property management services
• Housing construction
• Urban residential development

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. New Condominium Sales (分譲マンション販売): Primary revenue stream from sales of newly developed residential condominiums under the CREVIA brand. Properties are sold as outright ownership (区分所有権) or fixed-term land leasehold (定期借地権付). One-time purchase transaction model.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Itochu Urban Development develops, sells, and manages newly constructed residential condominiums and detached houses under the CREVIA brand in the Greater Tokyo metropolitan area and Kansai region of Japan. The company offers outright ownership and fixed-term land leasehold units, supported by gallery showrooms, the CREVIA STANDARD quality framework, and post-sale property management through the broader Itochu Group.

Product overview

Itochu Urban Development (伊藤忠都市開発), operating under the CREVIA (クレヴィア) brand, is a real estate developer specializing in newly constructed condominiums and detached houses primarily in the Tokyo metropolitan area and Kansai region. The core CREVIA brand encompasses a unified product portfolio including owned condominiums (分譲マンション), rental apartments (CREVIA RXE), and lifestyle media (CREVIA TIMES). All properties are developed, sold, and managed through the伊藤忠グループ (Itochu Group) integrated system comprising Itochu Urban Development (land acquisition and development), Itochu Housing (sales), and Itochu Urban Community (property management). The company maintains a network of physical gallery showrooms (ギャラリークレヴィア新宿, 有楽町イトシア, 横浜スカイビル) and digital platforms including the I'SALON resident portal and the CREVIA CLUB owner membership program. The CREVIA STANDARD quality framework defines approximately 300 product and service standards across all developments.

Differentiator

Problem solved

Functional benefit

Brands

• CREVIA（クレヴィア）: New condominiums brand developed by Itochu Urban Development featuring residential properties in Tokyo metropolitan and Kansai areas.
• CREVIA RXE（クレヴィア リグゼ）

Products and services

• CREVIA (クレヴィア) Newly constructed condominium (分譲マンション) and detached house brand under Itochu Urban Development. Properties are developed, sold, and managed through the Itochu Group integrated system covering land acquisition, development, sales, and property management. Offered as outright ownership (区分所有権) or fixed-term land leasehold (定期借地権付).
• CREVIA RXE (クレヴィア リグゼ) Rental apartment brand operated by Itochu Urban Development as a separate rental housing product distinct from the owned-condominium CREVIA portfolio.
• Gallery CREVIA Shinjuku (ギャラリークレヴィア新宿) Flagship showroom gallery located in Shinjuku Mitsui Tower 20F serving as the main sales consultation space for prospective CREVIA buyers. Business hours: Weekdays 11:00-19:00, Weekends/Holidays 10:00-18:00. Closed Wednesdays, Thursdays, and 2nd Tuesdays.
• Gallery CREVIA Yurakucho Itoshia (ギャラリークレヴィア有楽町イトシア) Gallery showroom located at Yurakucho Itoshia serving as a property consultation and display space for prospective CREVIA buyers.
• Gallery CREVIA Yokohama Sky Building (ギャラリークレヴィア横浜 スカイビル) Third flagship gallery opened in April 2026 at Yokohama Sky Building, serving the Greater Tokyo West and Kanagawa area for property consultations and model room viewings.
• I'SALON (アイサロン) Post-contract and post-move-in support portal website operated by Itochu Urban Development and its property management company. Provides scheduling for procedures, construction progress reports, document access, facility reservations, online management meetings, lifestyle services, and move-in support.
• CREVIA CLUB (クレヴィア クラブ) Owner membership program offering benefits and exclusive information for CREVIA residents and contract holders, run jointly by Itochu Urban Development and Itochu Housing.
• CREVIA STANDARD (クレヴィアスタンダード) CREVIA's comprehensive quality standard framework covering kitchen design, washroom/laundry spaces (MOT Linen), electrical switch placement, barrier-free design, balcony child-safety, indoor lighting placement, disaster prevention (CREVIA LIFE HUG), and digital bulletin board systems. Approximately 300 checklist items are updated annually.
• CREVIA TIMES (クレヴィアタイムス) Lifestyle web magazine published by CREVIA covering five content categories: Wear (衣), Eat (食), Live (住), Play (遊), and Learn (学). Features articles on local spots, lifestyle trends, and residential living culture.

Quantifiable outcome

• ZEH-M Oriented reduces primary energy consumption by 20% compared to standard requirements

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Itochu Housing Co., Ltd. (伊藤忠ハウジング株式会社)coreChannel Partner/ Reseller/ DistributorSales company that serves as the sales agent and customer interface for CREVIA properties from initial inquiry through contract execution and handover. Manages gallery showrooms and sales staff.
• Itochu Urban Community Co., Ltd. (伊藤忠アーバンコミュニティ株式会社)coreStrategic or Co-development PartnerProperty management company providing post-handover management services, resident support, community formation events, and ongoing building maintenance for CREVIA properties.
• Fuji Tosho Co., Ltd. (フジ都市開発)coreStrategic or Co-development PartnerJoint development partner for クレヴィア練馬レジデンス project. Part of Kiuchi Construction Group, bringing complementary real estate development capabilities to joint projects.
• Takara Standard Co., Ltd. (タカラスタンダード株式会社)coreStrategic or Co-development PartnerKitchen equipment manufacturer that collaborated with Itochu Urban Development to develop the original MOT Kitchen system. Joint development based on extensive user behavior analysis.
• Tokyo Gas Co., Ltd. (東京ガス株式会社)minorStrategic or Co-development PartnerCollaborated on multiple projects including the 'Nozomi Plan' flexible layout system for クレヴィア田端 (with Tokyo Gas Urban Lifestyle Research Institute), and the kokokara health management system with Tanita.
• Tanita Corporation (タニタ株式会社)minorStrategic or Co-development PartnerHealth measurement equipment company that collaborated on the kokokara health management system for residential buildings, providing body composition tracking and health management features.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Tokyu Land Corporation: Develops and sells condominiums in Tokyo metro and other major Japanese cities; comparable urban residential product line and sales model.
• Sumitomo Realty & Development: Major Japanese real estate developer with significant new condominium business in Tokyo metropolitan area; competes on similar urban residential product positioning.
• Nomura Real Estate Development: Develops PROUD brand condominiums primarily in Tokyo metropolitan area; comparable mid-to-high-rise urban residential product and direct competitor in shared submarkets.
• Mitsui Fudosan Residential: Japan's largest condominium developer under Mitsui Fudosan group; competes directly with CREVIA across Greater Tokyo for new condominium sales with much greater scale and broader portfolio.

Peers

• Mitsubishi Estate Residence:

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights7 records

Customer concentration

• Instagraminstagram.com/crevia_sumai

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Itochu Urban Development