The rest of the world has caught and surpassed the United States in terms of prominent skyscrapers. It seems after 9/11 there might be hesitation in construction of a towering building that could become a target for terrorist attacks. The state of the economy doesn’t help either. TGO
Refer to story below. Source: Associated Press
MUMBAI (AFP) – An Indian property group on Tuesday unveiled plans to build the world’s tallest residential tower in Mumbai, the country’s booming financial capital.
Lodha Developers said the tower would be 117 storeys high, and would be built by New York-based Pei Cobb Freed and Partners, the famed architects of the Louvre Pyramid in Paris and the Bank of China building in Hong Kong.
“At 1,450 feet (442 metres), the tower will be the tallest of its kind,” Abhisheck Lodha, managing director of Lodha Developers, told reporters as he presented a scale model of the complex.
Called “World One”, it will be located in a central district of Mumbai on the plot of a defunct textile mill, and should be completed by 2014.
The tower will contain more than 300 apartments and the site includes large green spaces, cafes and an open-to-air observatory.
“This is to meet the aspirations of the global Indian and to establish a landmark for the city,” Lodha said. “We are trying to create the Rockefeller Centre-type experience.”
The base price of an apartment in the tower starts at 75 million rupees (1.63 million dollars) while luxury multi-storey properties could cost up to 10.5 million dollars.
The tower will cost about 440 million dollars to build, the Lodha group said, adding apartment sales would start later this month.
Sky-high property prices in Mumbai have continued to rise through the global economic downturn, though the city is plagued by severe water shortages and poor infrastructure.
City residential rates have risen about 30 percent in the past six months, analysts say.
India’s economy recorded 7.4 percent growth for the year to March, official data released last month showed.
