GINZA DEVELOPMENTS: LVMH Moët Hennessy Louis Vuitton's real estate arm L Real Estate and three Japanese companies are collectively investing 83 billion yen, or about $800 million, to jointly develop a new retail and multi-purpose development in Tokyo's Ginza district.
Construction starts this month on the new building, which will feature 495,140 square feet of retail space, as well as offices a theater and a rooftop garden. Scheduled to open in November 2016, the 13-story structure will redevelop an approximately 1.4-hectare site including the former site of the Matsuzakaya Ginza department store.
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