Mitsui Fudosan, tasked with renovating the former site of Tokyo's world-famous Tsukiji fish market, hopes to build the vacant lot into a modern center of cultural, culinary and business exchanges.

Facing the Tokyo port and the Sumida River, Tsukiji has a long history, dating back to the Edo Period (1603-1868), of being a hub of cultural exchange and development, as well as being one of the biggest fish markets in the world.

“Utilizing the rich history of Tsukiji, we would like to enhance Tokyo’s international competitiveness and create facilities that will be loved by the people of Tokyo and attract people from around the world,” Mitsui Fudosan President Takashi Ueda said Wednesday. “At the same time, we would like to create an environmentally symbiotic cityscape to establish Japan as a world leader,” he said in the first news conference since a redevelopment plan proposed by a Mitsui Fudosan-led consortium was chosen.