Foreign interest in tallest building
22 March 2006
The developer constructing the world's tallest building in Shanghai is confident of overseas investment and returns higher than those on property in Tokyo, the South China Morning Post reported. The Shanghai World Financial Center will eventually be 492m tall, but so far stands at 31 storeys out of the proposed 101. �Many clients have contacted us to lease,� Hiroo Mori told the newspaper. �With the continued growth of the Chinese economy and the deregulation of the financial sector, we are convinced that 2008 is the right time to open.� Of the US$1 billion cost of the building project, half is equity with 65% from Mori and the rest from 30 other investors.