Hong Kong is Making Skyscraper on the Most Expensive Land Ever Sold

The 623 feet curvilinear glass tower is planned at the heart of Hong Kong


Hong Kong is planning to make an eye-catching Skyscraper inspired by a blossoming flower on the record-breaking $3 billion land, according to the latest real estate news on Thursday.

The 623 feet curvilinear glass tower is planned at the heart of Hong Kong, central district. Reports show that $3 billion were exchanged in 2017 with the purpose to construct the new tower.

Already Zaha Hadid Architects completed the 36-story design of the glass skyscraper. According to a press release, the design came from the “structural forms and layering” of a blossoming bauhinia.

Bauhinia is commonly known as the orchid tree in Hong Kong which also appeared in the flag. Designers are trying to achieve an “urban oasis” by creating a series of gardens and courtyards at the ground level.

Hong Kong Skyscraper Deal Made a Parking Garage to a Record-Breaking Property

According to global real estate firm Jones Lang LaSalle (JLL), the 31,000 square-feet land was actually a multi-storied parking garage.

The land was acquired by Henderson Land, a property developer in Hong Kong. This exchange made it the most expensive land in the world.

However, there are reports that two other land purchase deals surpassed the $3 billion mark in the last two years. A data from the Hong Kong’s land registry shows, one plot exchanged at $3.25 billion in 2018 and another $5.45 billion last year.

But in terms of per square foot price, the curvilinear tower site is the most expensive one ($6,450). Henderson Land declared that the glass tower is expecting an opening in fall 2023.

The design is showing a series of curved glass facades. At the top of the building, there is a “sky garden.”

According to the designers, the garden will be a “biological air-purifying filter.”

Henderson Land also owns multiple high-profile real estates making Hong Kong the most expensive real estate market in the world. They are thinking about renting office spaces at a sizable price.

A recent report shows Hong Kong central district office spaces are rented at a double price compared to the downtown of Shanghai and Singapore.

Read More: Alibaba Cloud is Expecting a Profitable Fiscal Year For the First Time

Ehsanul Hoq
Ehsanul Hoq
Ehsanul Hoq is a freelance writer and researcher in the Business and Finance domain. He regularly writes for blogs, startups, and agencies. He covers business-related trending topics like Cryptocurrency, Personal Finance, Technology, and Real Estates.

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