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Mitsubishi Estate to accelerate Marunouchi development

Published Thu, Nov 27, 2014 · 09:50 PM

Tokyo

MITSUBISHI Estate Co, Japan's biggest developer, announced plans to redevelop part of Marunouchi in central Tokyo, the country's most expensive business district.

The area of at least 11,240 sqm consists of three office buildings, the company said in a statement on Thursday. It will sell the property rights to one of the buildings, the former Mizuho Bank head office, to Mizuho Financial Group Inc for 159 billion yen (S$1.8 billion) and book 36.5 billion yen as a one-time gain. Mitsubishi Estate will use the proceeds for further development work in the area.

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Property

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Mitsubishi Estate to accelerate Marunouchi development

Property

Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters

Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up

Country Garden plans to present debt revamp plan in H2, sources say

Hong Kong home prices rise for first time in 11 months after curbs scrapped

HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand

Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%

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