Dive Summary:
- Developers and construction companies saw big gains on the stock market due to the news that Tokyo would host the 2020 Olympics.
- Tokyo is planning to build a 95.4 billion yen (960 million U.S. dollars) Olympic Village and is also expected to spend 153.8 billion yen (1.55 billion U.S. dollars) on construction and renovations at 11 sites.
- Here is an image of the planned Tokyo Olympic Stadium and an image of the planned Tokyo Olympic Village.
From the article:
Tokyo is planning its biggest housing project in 42 years to lodge athletes, a move that may benefit developers such as Shimizu Corp. and Mitsubishi Estate Co.
Shimizu surged 9 percent today, extending its advance this year to 50 percent. Mitsubishi Estate, Japan’s biggest property company by market value, jumped 5 percent today and has climbed 38 percent in 2013.
