Olympic venue costs for the 2020 Games could be reduced to about ¥260 billion ($2.2 billion) from an earlier estimate of ¥460 billion ($3.9 billion), according to a report released Wednesday following discussions between officials with the Tokyo Metropolitan Government and the International Olympic Committee.
Tokyo's original estimate from its candidature file totaled ¥153.8 billion ($1.3 billion) for the construction of 10 new facilities for the event.
Tokyo's original bid proposal called for 28 of the 31 facilities, including the main stadium, to be located within an 8-km radius of the Olympic Village. But the plan ran into trouble because of rising construction costs.