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Property

Mitsui completes first of two New York towers worth $5bn

Move highlights Japanese realtors' hunger for overseas investment

The Hudson Yards redevelopment site on Manhattan's west side. The high-rise that Mitsui Fudosan just completed is at the far left. (Photo by Shuji Nakayama)
The Hudson Yards redevelopment site on Manhattan's west side. The high-rise that Mitsui Fudosan just completed is at the far left. (Photo by Shuji Nakayama)

TOKYO -- Mitsui Fudosan has built a 51-story office building in New York, demonstrating Japanese developers' strong appetite for overseas investment as their home market shrinks.

The company announced Friday that it has completed 55 Hudson Yards in the heart of Manhattan. Next door, construction continues on another 58-story office development at 50 Hudson Yards.

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