List Development Signs Tripartite Agreement for the "Uraga Station Area Revitalization Project": Participating in a Large-Scale Mixed-Use Development Project through Public-Private Partnership

List Development Co., Ltd. (President: Hiroyuki Kiuchi; Headquarters: Yokohama, Kanagawa; hereinafter "LD"), a consolidated subsidiary of the comprehensive real estate firm List Co., Ltd. (President: Hisashi Kitami; Headquarters: Yokohama, Kanagawa), is pleased to announce that it has signed a tripartite agreement on March 30, 2026, with Yokosuka City and Sumitomo Heavy Industries, Ltd. regarding the "Uraga Station Area Revitalization Project (hereinafter, 'this Project')." LD is participating as a member of the corporate group "Team Perry’s," led by Index Corporation (President: Koichi Uemura; Headquarters: Minato-ku, Tokyo).

This agreement aims to promote the redevelopment of the Uraga Station area and its surroundings through public-private partnership, creating new value for the region and realizing sustainable urban development.

[Image Caption: *The included conceptual rendering (perspective) is an image at the time of the business proposal and may differ from the actual plan. The layout, shape, scale, specifications, etc., may change due to future discussions with stakeholders, progress in design, and various permit procedures. Additionally, the surrounding environment, landscape, landscaping, vessels, etc., are illustrative and may differ from reality.]

Background of this Project Uraga is known as the site of Commodore Perry's arrival in 1853, a historic area that served as the catalyst for Japan's opening to the world.

In 2021, Sumitomo Heavy Industries, Ltd. donated a portion of its land around the Uraga Dock to Yokosuka City, and in 2024, an agreement regarding regional revitalization was signed between the company and the city, marking the progress of regional regeneration efforts. Subsequently, following a public call for business operators by Yokosuka City, "Team Perry’s," led by Index Corporation, was selected as the preferred negotiation partner in 2025, and the regeneration plan has been under consideration.

"Team Perry’s" consists of six companies: Index Corporation (lead company), Ocean Capital Partners, Kinoshita Group Co., Ltd., Up-Front Group Co., Ltd., Maeda Corporation, and LD.

Project Overview This project is a large-scale mixed-use development centered on a super-yacht marina—a rarity in Japan—and features diverse functions including residential units, a hotel, commercial facilities, a marine culture and education hub, and facilities capable of hosting international conferences. The master plan was formulated by world-renowned architect Kengo Kuma, aiming to create a new marine exchange hub while leveraging the history and natural environment of Uraga.

Furthermore, the Miura Peninsula, where Uraga is located, is an area where yacht and cruiser culture is deeply rooted, supported by the calm waters of Sagami Bay, views of Mt. Fuji, and accessibility from the city center. This project aims to leverage these regional characteristics and looks forward to development as an international exchange hub.

LD's Role In this project, LD will undertake a portion of the private land development work. We are planning the development of residences with yacht and cruiser mooring rights within the luxury and villa zones of the marina area. In addition to the luxury real estate development track record we have cultivated to date, we will utilize the customer base held by our group companies to contribute to the creation of new value and spaces for stays and interaction that leverage the characteristics of this area.

Future Schedule Following the conclusion of this agreement, "Team Perry’s" will lead various surveys and preparations throughout fiscal years 2026–2027, with detailed design and construction work scheduled for fiscal years 2027–2028. We aim to begin phased operations from fiscal year 2029 onwards.

[List Development Co., Ltd.] Address: 4-47 Onoe-cho, Naka-ku, Yokohama, Kanagawa Representative: Hiroyuki Kiuchi, President Established: May 10, 1991 Business Overview: Planning, development, and sales of condominiums, detached houses, office buildings, and tenant buildings; buying, selling, and brokerage of income-generating real estate; consulting on asset management; property management services. URL: https://listdevelopment.jp/

[List Co., Ltd.] Address: LIST EAST BLD., 3-35 Onoe-cho, Naka-ku, Yokohama, Kanagawa Representative: Hisashi Kitami, President Founded: May 10, 1991 Established: May 20, 2016 Consolidated Sales: 56.2 billion yen (Fiscal year ended December 2024) Business Overview: Holding company, group management business URL: https://www.list.co.jp/

In 1991, List Co., Ltd. was established to conduct real estate brokerage. Since then, we have consistently engaged in real estate-related businesses, including the development and sale of detached houses and condominiums, and asset management. In 2016, we reorganized our group companies and transitioned to a holding company system, establishing a management structure as the "List Group" with our company at the core.

In 2010, our current subsidiary, List International Realty Co., Ltd., acquired the exclusive domestic operating rights for the "Sotheby's International Realty®" real estate brokerage brand, which originated from the world-renowned auction house "Sotheby's." Under the "List Sotheby's International Realty" brand, we conduct real estate brokerage and development businesses starting in Hawaii, USA, and expanding to Singapore, Hong Kong, and Thailand. Through these businesses, the List Group will continue to provide "valuable real estate" to our customers.