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

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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.


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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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