Mori Building Co. on Wednesday unveiled plans for three new high-rise buildings in the Toranomon area of Tokyo’s Minato Ward under a ¥400 billion redevelopment aimed at transforming the area into a world-class business hub.

The three new office, residential and station buildings are slated to be built near the existing Toranomon Hills complex, which opened to much fanfare in 2014.

The evolution of Toranomon Hills is “entering a key stage from here on out,” Mori Building CEO Shingo Tsuji told a news conference in Tokyo. With this, “we will further accelerate urban redevelopment” in the area.

A 36-story skyscraper, tentatively named Toranomon Hills Business Tower, will boast 94,000 sq. meters of office space and feature a 3,000 sq.-meter space dubbed Innovation Center.

A bus terminal will be attached to the building and include routes that connect commuters to the Tokyo Bay area as well as airport limousine bus services.

Construction on the business tower is slated to start fiscal 2017 and finish in fiscal 2019, while the 56-story residential tower is also expected to be completed that year.

The third high-rise, to be built above a new subway station on Tokyo Metro Co.’s Hibiya Line, is set to open in fiscal 2022.

“Considering the location of Toranomon Hills, the complex should become a business hub,” said Tsuji, adding that he envisaged foreign firms picking the district for their Asian headquarters.

He said Toranomon Hills had an edge over rival cities, including Hong Kong and Singapore, as offices, shops, residences and hotels abroad are often packed in a compact complex.

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