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Real Estate

580m Shanghai Center to be larger than planned
By STAFF EDITOR
Published: May 09, 2008 02:23 PM
The 580 meter “Shanghai Center” scheduled to top out by 2013 will contain 380,000 square meters of floor space, well above the planned 200,000 square meters, the Oriental Morning Post reported, citing a report on the tower’s influence on the surrounding environment released by the Shanghai Academy of Environmental Science. The newspaper did not say why the total floor space has almost doubled from the initial projection made last November. Shanghai Chengtou, a local public works developer, has the controlling 51% stake in the US$770.85 million (RMB5.4 billion) project, Shanghai Lujiazui Finance & Trade Zone (600663.SH) has a 45% stake and Shanghai Construction Co (600170.SH) the remaining 4%. Shanghai will be home to the mainland’s three tallest buildings when the project is completed, joining the 420 meter Jinmao Tower and the 492 meter Shanghai World Financial Center. Construction began on Thursday.
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