Demand for office space is recovering in the United States after a slump during the coronavirus pandemic, opening opportunities for Japanese property developers.
Two Japanese real estate giants are involved in major projects in New York's Manhattan district.
Tokyu Land is a partner in the development of a 47-story building which was officially opened on Wednesday.
The skyscraper offers views of Central Park and cost about 1.7 billion dollars to build.
Mitsui Fudosan has a stake in a 61-story building project in the Hudson Yards area that is undergoing redevelopment.
The building was completed at a cost of more than four billion dollars.
Leasing contracts have already been signed for more than 80 percent of the office space in both buildings.
Two Japanese real estate giants are involved in major projects in New York's Manhattan district.
Tokyu Land is a partner in the development of a 47-story building which was officially opened on Wednesday.
The skyscraper offers views of Central Park and cost about 1.7 billion dollars to build.
Mitsui Fudosan has a stake in a 61-story building project in the Hudson Yards area that is undergoing redevelopment.
The building was completed at a cost of more than four billion dollars.
Leasing contracts have already been signed for more than 80 percent of the office space in both buildings.
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Summary
Recovery of office demand in the US post-COVID leads to opportunities for Japanese developers, with Tokyu Land partnering in a $1.7B Manhattan skyscraper and Mitsui Fudosan investing in a redevelopment project worth over $4B in Hudson Yards. Both buildings have signed leasing contracts for 80% of
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ID: 525c0c92-70f6-4ba8-9fb3-b2a0fcbe8ab5
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221027_22/
Date: Oct. 27, 2022
Created: 2022/10/27 18:15
Updated: 2025/12/09 12:17
Last Read: 2022/10/27 18:33