AS construction pulls to a halt and financing for major projects runs dry the world over, China’s largest city has begun work on what will be its tallest skyscraper.
Shanghai has officially begun work on its 632-metre tower in the city’s Lujiazui financial centre, one of a slew of government-funded construction projects that authorities hope will bolster economic growth and create jobs.
“Launching construction at this time will help boost Shanghai’s confidence in fighting the financial crisis,” Gu Jianping, manager of Shanghai Tower Construction & Development Co., told reporters.
The glass tower is the latest in a string of projects for the city. A massive subway construction effort blocks many city streets, while the waterfront Bund is facing a complete overhaul.
Shanghai had planned the glass tower since the early 1990s, but bidding only began in 2006. Architects and designers are planning for a green, sustainable building, including having rainwater caught on the building’s roof, which can be stored and used to flush toilets. Wind turbines will help provide enough electricity to power the building’s outer lighting.
Arthur Gensler, chairman and founder of San Francisco-based Gensler Architecture, Design and Planning Worldwide, which designed the 120-plus floor building, said projects such as this can now only be found in places like China and the Middle East due to the financial crisis.
The building is due to be completed in 2014 at a cost of more than 14.8 billion yuan ($3.4 billion), Portfolio.com reports.
