If reaching the apex of the world’s fourth tallest building is on your bucket list, then you now have another reason to visit Guangzhou, following the completion of the a new 1,739 foot tall tower there. Also in the news this week, Dalian Wanda hires a new contractor for its One Nine Elms project in the UK and China’s property tax horizon gets a bit further away. Read on for all these stories and more.
Completion of the terracotta-clad Guangzhou CTF Finance Centre shuffled the ranking of the world’s supertall skyscrapers. Topping out at 1,739 feet, the tower is the 4th tallest building in the world and second tallest in China, after the Shanghai Tower.
The building features several public metro stations, heat recovery stations, and 95 Hitachi elevators capable of reaching speeds of 44.7 mph, according to New Atlas. Read more>>
Chinese property giant Dalian Wanda said today that it had appointed a new contractor for its £1bn One Nine Elms project, after it fell out with its first choice.
In November it emerged the company had failed to agree terms on the main build contract with Balfour Beatty, a pair of towers rising to 58 storeys which will include hundreds of homes and a five-star hotel. Read more>>
A property tax might not be the immediate weapon of choice for policymakers trying to arrest housing inflation in China, as they consider a stable property sector vital for bolstering economic growth, analysts said.
“Considering the government is not going to kill the market – they need the property market to be relatively stable to support the economy – I don’t think the property tax will be rolled out in the near term,” said Eva Lee, head of China and Hong Kong property research at UBS in Shanghai on Tuesday. Read more>>
Shanghai’s preowned house transactions in December shrank 27 percent month-on-month to 13,300 units, the lowest in the past 25 months, as a result of a series of measures to cool down the city’s residential property market.
A research note issued by the Shanghai Existing Property Index Office, which tracks transaction data of preowned housing properties, said that more than 66 percent of transactions of preowned homes were sold below 3 million yuan ($431,100) per unit, a signal that buyers’ demand is shifting from speculative or investment-oriented to self-use. Read more>>
With the completion of work on the 127-storey Shanghai Tower at the end of 2015, the city gained a potent new futurist symbol. At 632m, it is the world’s second-tallest building, surpassed only by Dubai’s 828m-tall Burj Khalifa.
Gensler, the US company that designed the tower, hired photographer Noah Sheldon to document its construction. While producing architectural photos to satisfy his client, Sheldon took advantage of his access to the site to capture other kinds of images. Read more>>
Bukit Panjang residents will have a spanking new shopping centre late next month when Hillion Mall opens for business.
The complex, which will have a two-storey retail podium and two retail basement floors, is part of an integrated development and transport hub that will cater to more than 220,000 residents and 760,000 commuters.
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