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REFILE-Mitsubishi Estate in talks to raise office rents

Sun May 25, 2008 8:11pm EDT

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(Refiled to fix typo in first paragraph)

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TOKYO, May 26 (Reuters) - Mitsubishi Estate Co Ltd (8802.T), Japan's second-biggest property developer, said it is in talks with tenants to raise office rents in the Marunouchi area of central Tokyo by 15-20 percent.

The firm said it is seeking the price hike given the tight office building market situation in the area, with its vacancy rate in Marunouchi standing at 0.19 percent as of the end of March, the lowest since it started disclosing the data in 2003. (Reporting by Taiga Uranaka)

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