Mori, LVMH in 83b yen Ginza building project

[TOKYO] Mori Building Co, Japan's biggest closely held developer by sales, and LVMH Moet Hennessy Louis Vuitton SA, the world's largest luxury-goods maker, are part of a group that will develop a retail and office complex in Tokyo as they anticipate increasing consumer spending.

The two companies along with Sumitomo Corp and J Front Retailing Co will spend 83 billion yen (S$1 billion) on a 13-story building with six underground levels in Ginza, said Shingo Tsuji, president of Mori Building, at a press conference on Tuesday in Tokyo. Construction of the commercial facility, with about 147,600 square metres (1.6 million square feet) of floor area, will start this month and be completed by November 2016, the companies…