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Ongoing Urban Redevelopment in Osaka
about Emergency Urban Revitalization Districts
Panorama and regional overview
Osaka Station, Nakanoshima, and Midosuji Districts
A new urban center that will lead the development of urban OsakaApprox. 485ha
These central districts of Osaka will be given enhanced, adding to the substantial urban infrastructure already in place, which will increase Osaka's international involvement and encourage renewal of the entire Osaka Metropolitan Area.
Namba and Minatomachi Districts
A base for social interaction that will increase the popularity of the Minami areaApprox. 36ha
These districts will be developed as a new center for social interaction with up-to-date information and interesting cultural activities; a door to the south part of Osaka with direct access to Kansai International Airport.
Abeno District
An attractive urban district ideal for work, home, and recreationApprox. 21ha
Conveniently located near Tennoji and Abeno stations, this district will be a new center with a concentration of commercial, recreational, residential, and accommodation facilities.
Sakishima Cosmosquare District
Waterfront R&D base with sophisticated IT infrastructureApprox. 154ha
As a new urban center on Osaka's waterfront, this district will be furnished with sophisticated infrastructure and a pleasant waterfront.
Urban Design and Planning
- Urban Plan Proposal Program
- This program allows those who plan to carry out an urban revitalization project *1 covering an area of 0.5 ha or more to submit a proposal for the urban plan necessary for the project, contingent on the consent of more than two thirds of land owners and leaseholders concerned.
- This program is applicable to:
development projects for special urban revitalization districts, intensive land utilization zones, or designated disaster mitigation zones; district plans (which subject the entire district to redevelopment or some other forms of improvement); urban redevelopment projects; disaster mitigation zone development projects; land readjustment projects; and the development of urban facilities such as roads or parks. - Special Urban Revitalization Districts
- In order to facilitate urban revitalization and promote rational, healthy and intensive land utilization, Urban Revitalization Districts are exempt from restrictions applicable to conventional use zones, including those applicable to floor-area ratio and height limitation. By doing so, an increase in the flexibility of district design and planning is expected.
- The urban plans to be proposed should specify:
the intended purpose of land use (only when preferential measures for land use regulation are required); the upper floor-area ratio limit (400% or more); the lower floor-area ratio limit; the upper building-to-land ratio limit; the lower building area limit; the upper building height limit; and any restrictions on wall placement. - Time Limitation for Decision on the Urban Plan
- To expedite project approval procedures, notice will be issued within six months after the submission of an urban plan informing the applicant of whether the plan is adopted, changed, or rejected.
Financial Support
Private organizations who are permitted to carry out an urban revitalization project *1 covering an area of 1ha or more *2 upon approval of the Minister of Land, Infrastructure and Transportation are eligible for a no-interest loan for urban revitalization (to cover the expenses of development and improvement public facilities) offered by the Organization for Promoting Urban Development; debt guarantee; funding by Urban Revitalization Fund Investment Corporation; and financial support for corporate bonds.
Outline of Taxation Incentives
Private organizations who are permitted to carry out an urban revitalization project *1 covering an area of 1ha or more *2 upon approval of the Minister of Land, Infrastructure and Transportation are eligible for the following taxation incentives.
Taxation incentives applicable to organizations permitted to carry out an urban revitalization project
Note: For more details, please refer to the Special Taxation Measures Law, Local Tax Law and other relevant laws.
| Tax | Tax Incentive | Description |
|---|---|---|
| Income tax | Extra depreciation deduction | An additional 50% depreciation deduction is granted for the initial five years. |
| Corporation tax | ||
| Registration and license tax | Reduction of tax on registration upon transfer of land ownership | Reduction of tax on registration upon transfer of land ownership A tax rate of 8/1000 is applied to registrations made within one year after the acquisition of ownership. Reduction of tax on registration of preservation of building ownership |
| A tax rate of 8/1000 is applied to registrations made within one year after the acquisition of ownership. | A tax rate of 3/1000 is applied to registrations made within one year after the acquisition of ownership. | |
| Property tax | Reduction of taxable base | The taxable base of buildings for public use and depreciable property will be reduced by half for the initial five years. |
| City planning tax | ||
| Real-estate acquisition tax | Reduction of taxable base | A deduction of up to 1/5 of the taxable base is allowed. |
* In addition to the above, preferential measures for the land owners and leaseholders concerned are also available.
- *1）Urban revitalization projects
- Urban development projects are to be conducted in Priority Urban Redevelopment Areas.
An urban development project is defined as a project relating to building and building lot development that can facilitate rational and healthy land utilization and that involves the enhancement of public facilities including: roads; parks; squares; sewage systems; green areas; rivers; canals; channels; and flood, sediment, or tide control systems; water-area facilities, embankment, and mooring facilities. - The main aim of an urban revitalization project is to promote the urban functions stated in the development policy governing Priority Urban Redevelopment Areas.
- *2）The area covered by the project should be 1 ha or more, or 0.5 ha or more if the adjoining area is also subject to development and the total area under development amounts to 1 ha or more.
