Mori bets on luxury condo demand in Tokyo
It is constructing 3 buildings at a cost of 400b yen in Toranomon district; project will include units priced from 1b yen
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Tokyo
MORI Building Co has started work on a luxury residential development in Tokyo that will include units priced from 1 billion yen (S$11.9 million), betting there is untapped demand for the most upscale apartments in the city.
Japan's largest privately owned developer is constructing three buildings at a cost of about 400 billion yen in the central district of Toranomon, home to many of the capital's office towers and embassies, Mori's executive managing officer Hideto Oba said in an interview.
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