The purpose of this paper is to analyze a process of the production of social space by the real estate developer from the viewpoint of exchange theory. When we watch the urban developments and renewals around the Tokyo area from the first half of 1980's until today, such as Odaiba, Shiodome, Roppongi Hills and Tokyo Midtown, we find the strong influence of the real estate developers on space formation there. However, it cannot be said that the sociological study on the functions of real estate developer is abundant. Since the end of 1960's, New Urban Sociology has submitted the various issues, such as national intervention to urban deals, housing policy as reproduction of collective consumption, or roles of nationstate for total capital, from macro-viewpoint that is different from the Chicago school. I succeed these perspectives for analyzing capitalistic institutions and inherit the standpoint of H. Lefebvre about the production of social space. However, I analyze it as the social exchanges between individuals on a micro-level. From this point of view it is assumed that the social relations emerging from urban development are results of the social exchange processes. Therefore, I focus on the specialist's actions as exchanges in housing development project in the suburb of Tokyo, and make an attempt to explain how architectonic of abstract space described by Lefebvre appeared.

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