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Business

Rail operator leads Shibuya renewal projects

Construction of a 230-meter-high building is underway at a site next to Shibuya Station.

TOKYO -- Tokyu Corp., a Tokyo-based private railroad operator and developer, is spending billions of yen on urban renewals in the Shibuya area, one of the world's busiest districts. New buildings and facilities with shops, restaurants, offices and entertainment spots are being constructed to make the area even more attractive to a wider range of visitors. The company plans to complete most of them before the city hosts the Olympic and Paralympic Games in 2020.

     After midnight on a typical Friday, people wait at the intersection in front of Shibuya Station, said to be the busiest pedestrian crossing in the world, and rush to the station to catch the last train home. Those who stop to look up can see massive cranes rising at a huge construction site next to the station.

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