400 billion Yen for a share of Otemachi Place

Despite the Yen dropping to a 24-year low, a domestic consortium led by Hulic has outbid foreign investors to acquire the Ministry of Finance’s share in the Otemachi Place office tower in Tokyo. And at an astronomical price…

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Bidding closes on Otemachi Place

Bidding ended for office space in Otemachi Place on July 7, with a little over 10 domestic and foreign buyers expressing interest. The floor space on offer is in the East Tower and the seller is the Ministry of Finance (MOF).

Interested buyers had until July 7 to submit their proposal, which required disclosing information in the event of joint buyers, and an after-purchase management and operation plan.

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Mitsubishi's 10-year, 700 billion Yen transformation of Marunouchi

One of Japan's largest property companies is in the process of developing 600 ~ 700 billion Yen (approx. US$5.5 ~ 6.5 billion) in projects around the Marunouchi and Otemachi districts.

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