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SBD Global/June 6, 2014/Olympics

Japanese Developer Plans $9.7B In Projects To Help Build 2020 Tokyo Olympics

Japan developer Mori Building Co. "plans projects in central Tokyo" worth an estimated $9.7B with partners as the city prepares for the 2020 Olympics, according to Chu & Kuwako of BLOOMBERG. Mori President/CEO Shingo Tsuji said that Mori "plans to develop about 10 projects" over the next decade in Minato ward. Developers "are boosting investments" ahead of the Tokyo Olympics as vacancy rates "decline and rents climb." The 52-story Toranomon Hills, which will open on June 11, "is Mori’s biggest project" since the Roppongi Hills development. The new complex "looms over Loop Road No. 2" that connects central Tokyo to the bay area, where one of the two competition zones "will be located" (BLOOMBERG, 6/4).
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