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March 23, 2001 |
Tokyo Building and Hibiya
Park Building to be Reconstructed
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Mitsubishi Estate Co., Ltd. is pleased to announce the
decisions to reconstruct two of its properties in central
Tokyo: the Tokyo Building, located in Marunouchi 2-chome,
Chiyoda-ku, and the Hibiya Park Building, located in
Yurakucho 1-chome.
The Tokyo Building is to be reconstructed into a highly
functional office building capable of satisfying the
increasingly diversified demands of the growing global
business environment, while the Hibiya Park Building
will undergo transformation into one of the most luxurious
hotels in the world. In relation to the latter development,
the company is currently discussing with The Hongkong
and Shanghai Hotels, Limited (Peninsula Hotel) regarding
future hotel management, and is considering the possible
joint venture as a precondition.
Reconstruction of both buildings is scheduled to start
fiscal 2003 and be completed in fiscal 2006.
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| Tokyo Building |
| 1/ Location: |
7-3 Marunouchi 2-chome, Chiyoda-ku, Tokyo |
| 2/ Land Area: |
Approx. 8,100 square meters |
| 3/ Building: |
Steel-framed ferroconcrete structure 10 floors
above ground, 2 floors below ground |
| 4/ Floor Space: |
Approx. 68,200 square meters |
| 5/ Constructed: |
September 1951 |
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| Hibiya Park
Building |
| 1/ Location: |
8-1 Yurakucho 1-chome, Chiyoda-ku, Tokyo |
| 2/ Land Area: |
Approx. 4,300 square meters |
| 3/ Building: |
Steel-framed ferroconcrete structure 9 floors
above ground, 4 floors below ground |
| 4/ Floor space: |
Approx. 48,400 square meters |
| 5/ Constructed: |
March 1952 |
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| The Hongkong
and Shanghai Hotels, Limited |
| Location: |
Hongkong (listed on Hong Kong Stock Exchange) |
| Established: |
1866 |
| CEO: |
Michael D. Kadoorie |
| Major Shareholder: |
Kadoorie Family (approx. 59% of outstanding shares) |
| Business: |
Main business is operation of luxury hotels and
sales and lease of commercial facilities and residences
in major cities throughout Asia, Australia and the
United States |
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