TOKYO (29 May 2024) — Japan’s Waseda University has won the ULI Hines Student Competition Asia Pacific for the second year in a row with a proposal to transform Tokyo’s former Tsukiji Fish Market site into a dual-purpose destination — a well-accessible tourist attraction and an innovation hub for biochemistry start-ups. The results were announced today at the 2024 ULI Asia Pacific Summit by the Urban Land Institute (ULI) and Hines, a leading global real estate investment manager.

The winning proposal, titled “The BioChem Frontier”, reimagines the Tsukiji Inner Market as a biochemistry hub. The proposed hub aims to tackle challenges related to Japan’s ageing population by providing a space for research on extending healthy life expectancy. The multi-disciplinary team, Team Caplico, comprises students from Waseda University: Koki Yano, Yungju Hsieh, Yunwoo Ryu, and Yuki Tominaga.

A total of 27 teams from seven markets across the Asia Pacific region (China, India, Japan, Singapore, South Korea, the Philippines, and Vietnam) participated this year. Last year’s competition had 19 teams. The five finalist teams were from universities across China, India, and Japan. The student teams were tasked to transform the Tsukiji site into a thriving, mixed-use, transit-oriented neighbourhood.

A jury of six, which comprise regional and local industry leaders from the real estate and built environment sector, selected the winning entry. The jury is co-chaired by Choon Fah Ong, Adjunct Professor for NUS Cities, National University of Singapore and Peter Hyland, Director, Urbis. Other jury members include Jon Tanaka, Japan Country Head at Hines; Gordon Hatton, Head of Development and Delivery in Japan, Colt Data Centre Services; Xiaomei Lee, Regional Managing Principal at Gensler Greater China; and Dzung Nguyen, Co-founder, Chief Executive Officer and Senior Principal, Planning + Urban Design enCity.

“Young people are demanding more sustainable futures,” said Ray Lawler, chief executive officer, Asia Pacific, Hines. “This competition provides an ideal platform to inspire them to make that happen. We’re privileged to be a part of this and to be equally inspired by the brightest young minds – the next generation of real estate leaders – to address key issues and build more sustainable communities together.”

“It’s encouraging to see the strong talent pool that’s about to enter the real estate industry here in Japan,” said Jon Tanaka, juror and Japan country head, Hines. “What is also special about this student competition is that the Tsukiji Market redevelopment plan was announced by the city government and a development consortium led by Mitsui Fudosan, after we determined this year’s winners. We’re excited to see that many elements of Team Caplico’s winning proposal, ‘The BioChem Frontier’, were present in the developer’s plan. Congratulations to the students at Waseda University.”

“Congratulations to Team Caplico, as well as all the teams who participated in this year’s competition, who have demonstrated exceptional teamwork, creativity, and passion for design and urban development,” said Alan Beebe, chief executive officer, ULI Asia Pacific. “This competition offers a promising glimpse into our next generation of real estate leaders and highlights the importance of fostering creativity and collaboration in the pursuit of sustainable urban development, which is a key priority for ULI. I’d also like to thank the jury for contributing their time and Hines’ generous partnership for making this competition possible.”

The winning team will receive a one-year ULI student membership, gaining access to ULI’s membership base and knowledge and learning platform. They will present their winning proposal and have the opportunity to connect with industry leaders at the 2024 ULI APAC Summit in Tokyo, Japan from 27 to 30 May 2024.

The ULI Hines Student Competition provides final-year undergraduate and graduate students with the opportunity to collaborate in multidisciplinary teams and engage in a challenging exercise to develop proposals for an existing site in a major city, showcasing responsible, creative, and sustainable land use. The competition began in 2003 in the Americas and is now in its second year in the Asia Pacific region.

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NOTE TO REPORTERS AND EDITORS: Additional information on the ULI Hines Student Competition can be found here.

Media Contacts
For further information, please contact:
Priscilla Tong, Director, Communications, ULI Asia Pacific: [email protected]
Nurul Juhria Kamal, Associate, Progressive Communications
[email protected] | +65 8779 1654

About the Urban Land Institute
The Urban Land Institute is a non-profit education and research institute supported by its members. Its mission is to shape the future of the built environment for transformative impact in communities worldwide. Established in 1936, the Institute has more than 48,000 members worldwide and over 3,000 members in the Asia Pacific region representing all aspects of land use and development disciplines. For more information on ULI Asia Pacific, please visit asia.uli.org, or follow us on LinkedIn, Facebook, Instagram, X, and YouTube.

About the ULI Hines Student Competition
The ULI Hines Student Competition was created with a generous endowment from long-time ULI leader Gerald D. Hines, founder of the Hines real estate organisation. The programme is part of an ongoing ULI effort to raise interest among young people in creating better communities and improving urban development patterns. The competition encourages cooperation and teamwork — necessary talents in the planning, design, and development of sustainable communities — among future land use professionals and allied professions.

About Hines
Hines is a leading global real estate investment manager. We own and operate $93.2 billion¹ of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 30 countries draw on our 65-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organisation and RIA AUM as of December 31, 2023.