Mori Bets on Luxury Condo Demand in Tokyo With Toranomon Project

  • Sees many units pricing over 1 billion yen as wealthy flock
  • Development to be more upscale than Mori’s Roppongi Hills: Oba

Mori Building Co. has started work on a luxury residential development in Tokyo that will include units priced from 1 billion yen ($9 million), betting there is untapped demand for the most upscale apartments in the city.

 Japan’s biggest 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, Executive Managing Officer Hideto Oba said in an interview. The development, which includes a 54-level structure, is scheduled for completion in about 2020, he said…
Categories : Real Estate

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