Mitsui Fudosan
In March 2021, it was reported that the Imperial Hotel's owners, real estate company Mitsui Fudosan, will soon close the hotel and demolish the existing buildings. The structures will be cleared, along with neighboring buildings, for construction of a new $2 billion development, which will be integrated with the adjacent Hibiya Park by a bridge covering the six-lane road that separates them. A high-rise tower annex to the hotel is expected to open first, in 2030. The new fourth Imperial Hotel itself, however, is not expected to be completed and reopened until 2036.