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Old October 18th, 2009, 04:46 AM   #601
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costanera center by potlach

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Old October 20th, 2009, 06:43 PM   #602
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walter is telling absolute nonsense... the faro PROYECT (maybe a fairytale like many other latinamerican towers never built) would be 280 meters high. His own sources states this.

Meanwhile it is very ULTRA-confirmed, that the Costanera will be at least 300 meters.

So enough said about Faro for now, please do treat this in it's respective "proyect" or "fantasy" forum and leave the CC for the ongoing "under constructions"
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Old October 22nd, 2009, 03:29 AM   #603
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Originally Posted by Dale View Post
God, I hope it won't look like that!
I recognize a Photoshop Disaster when I see one. Jeez, this one is a clear botched job.

But back to topic:

So according to Diario Financiero, the resuming of this construction is being evaluated by the developers. The odds of this project going forward have already pushed stock markets in South America.


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Old November 20th, 2009, 06:01 PM   #604
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Santiago Skyscraper Provides Clue to Chile’s Economy (Update1)

Nov. 20 (Bloomberg) -- Costanera Center sits half-finished at the heart of Santiago’s financial district, its exposed concrete and reinforcement bars contrasting with the glass-faced skyscrapers surrounding it. A banner at the silent, empty building site says “Icon of Latin American development.”

Once a symbol of Chile’s soaring copper-driven economy, the stalled project became an emblem of its decline after work ground to a halt in January on what would be South America’s tallest building.

Now there are signs the 300-meter (984-foot) tower may resume its ascent, signaling an economic recovery is also under way. Cencosud SA, the building’s developer, said last month that it installed a project management team on the site and resumed work at another shelved venture in Santiago. Chairman Horst Paulmann met with Chilean President Michelle Bachelet and Public Works Minister Sergio Bitar Oct. 30 to discuss sharing the cost of access roads to the project.

“First it was an icon of the boom and then, when it stopped, it became an icon of the crisis,” said Valentin Carril, who oversees $4 billion including Cencosud stock as chief executive officer of Principal Asset Management SA. “I’d expect them to restart building very, very soon. It’d be a big boost to business confidence.”

In March 2006, Chile’s then-president Ricardo Lagos broke ground on the project, describing it as “a symbol of the Chile that is beginning to emerge before our eyes,” according to presidential archives. He thanked “visionaries” such as Paulmann for betting on Chile’s future.

Cinemas, Shops

The 700,000 square-meter (7.53 million-square-foot) project includes a 12-screen cinema, a five-star hotel and more than 300 retail outlets including department stores and home-improvement centers. The tallest of four planned towers was designed by Pelli-Clarke-Pelli, the firm behind the Petronas Towers in Kuala Lumpur, Malaysia. It also designed the Hong Kong International Financial Center.

The company started to wind down construction on the $600 million center in October 2008 before stopping work entirely in January. Cencosud said Jan. 28 that building will recommence “once the economic uncertainty is overcome.”

Costanera Center remains on hold and its resumption depends on market conditions, a Cencosud spokeswoman who declined to be named citing company policy said on Nov. 18. Chief Financial Officer Andres Munita didn’t return messages seeking comment.

Copper Crisis

The global financial crisis cut copper prices and prompted Chileans to curb spending, sending South America’s fifth-largest economy into its deepest recession in a decade. Copper exports, which are equivalent to a quarter of Chile’s economy, fell by about half in the first six months of 2009 from a year earlier.

The economic slump rippled across Santiago’s financial center, dubbed ‘San-hattan.’ The vacancy rate for upscale offices rose to 3.4 percent in the last quarter from less than 1 percent when work on Costanera Center was in full swing last year, as demand fell while new space became available. The rate may exceed 6 percent next year, said Christopher Carvajal, head of research in Chile at Colliers International.

Chile’s economy expanded 1.1 percent in the third quarter from the previous three months, while continuing to contract year-on-year, the central bank said on Nov. 18. Chile’s peso is the world’s best-performing currency in the past month with a 7.2 percent gain against the dollar.

Conditions Improve

Carril of Principal Asset Management said rebounding copper prices, record-low interest rates and government stimulus spending are creating the conditions for Costanera Center to resume, and the work in turn will give more impetus to the economic recovery.

Ronald Pradenas, a 26-year-old plumber with contractor Electro Quality Ingenieria Ltda., said the number of people on the building site has jumped in the last month as training sessions start in preparation to resume work. Pradenas, standing at the site’s entrance, said he’s been fitting out underground floors on the project since last year as part of a 30-person team.

About $2.7 billion of private investment projects resumed in Chile during the last quarter, reducing by 15 percent the amount halted or delayed since the crisis began, according to Santiago-based Corporacion de Desarrollo Tecnologico de Bienes de Capital, known as CBC. Environmental authorities approved $4.3 billion in new projects in greater Santiago through October, more than double the total for 2008.

Signs of Life

Cencosud restarted construction of a shopping center in the Santiago neighborhood of Nunoa after halting work a year ago. The company is also resuming its expansion in Argentina, saying on Nov. 16 that it plans to open nine more stores there in 2010.

The company may need more than a broader economic recovery before it starts to spend again on Costanera Center. Paulmann, a 74-year-old German-born entrepreneur, spent about $1 billion buying up retailers in Brazil and Peru and expanding the Easy home-improvement chain to Colombia in the year before deciding to wind down work on the tower. Long-term debt exceeded $2 billion at the end of September last year, the month that Lehman Brothers Holdings Inc. filed the largest bankruptcy in U.S. history, sparking the global recession.

Laurence Golborne, the former Cencosud chief executive officer who had guided the acquisition spree, was replaced in January by Daniel Rodriguez. The new chief promised to focus on cost savings and return debt to pre-acquisition levels. That month construction was halted.

Cencosud shares rose 0.1 percent to 1,500 pesos ($2.96) at 8:43 a.m. New York time in Santiago trading. The stock has rallied 66 percent this year after a 55 percent decline in 2008.

Partner Sought

Cencosud’s management “has said that they don’t consider the project as core and would look to have a partner,” said Brian Chase, JPMorgan Chase & Co.’s head of equity research for the Southern Cone and Andean region. “I don’t think it’s just a matter of recovery to move forward with that project. It’s also a matter of them finding a more tenable structure.”

A decision to resume work on the building may help fuel a rebound in the country’s labor market after unemployment rose to more than 10 percent in May, said Sergio Alegria, president of a labor union that was working on the site.

“It was the milestone that marked the loss of jobs for thousands of workers throughout the country,” Alegria said. Restarting “will represent a climate for the hiring of workers, above all in Santiago.”

Source: http://www.bloomberg.com/apps/news?p...d=aAlqGIkTAOjo
I'm optimistic about Costanera Center.
"Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated."

Thomas Sowell
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Old November 21st, 2009, 03:26 AM   #605
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Originally Posted by AROK! View Post
costanera center by potlach

the Costanera Center is the big building on the center of the picture?.
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Old November 21st, 2009, 03:36 AM   #606
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it is the one with the yellow cover on top.
Rancagua-San Vicente de Tagua Tagua-San Fernando-Santiago-Santa Cruz-Hanga Roa-Concepción-Talcahuano-Cabrero
Chillán-Los Ángeles-Rengo-Cañete-Pucón-Osorno-Lican Ray-Castro-Puerto Montt-Puerto Varas-Puerto Octay-Frutillar-San Felipe
Ovalle-Coquimbo-La Serena-Copiapó-concón-Valparaiso-Viña del Mar-Machalí-Coya-Copiapó-Graneros-San Francisco-Pichilemu-Penco-Curicó
Rio de Janeiro-Cabo Frío-Búzios-Lima-Máncora-Piura-Chimbote-Huacho-Chancay-Buenos Aires-La Plata-Oslo-Bergen-Skien-Ulefoss-Hareid-Ålesund-Bø
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Old November 21st, 2009, 07:07 PM   #607
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Originally Posted by Marsupilami View Post
it is the one with the yellow cover on top.

ah,cool!..thanks man!.
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Old December 5th, 2009, 03:06 AM   #608
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Today was announced the restart of the construction of "Costanera Center", in a press conference made by Horst Paulmann, Cencosud's Owner.
The news from Reuters:

SANTIAGO, Dec 4 (Reuters) - Chile's Cencosud CEN.SN, one of Latin America's largest retailers, said on Friday it would invest over $700 million in 2010 and restart construction of a mega-mall it delayed in Santiago in January amid global financial crisis.

The partially built Costanera Center project in the Chilean capital, which Cencosud said on Friday would cost $600 million, is set to house major department stores and include the tallest building in South America at 300 meters (984 feet), and came to symbolize the impact of the global crisis on Chile.

"I've just spoken to President (Michelle) Bachelet and invited her to join me on December 16 to toast the resumption of Costanera Center," said Horst Paulmann, Cencosud's owner, told reporters. "It is an emblematic project, which will change the face of the country."

Paulmann said that $100 million of the $700 million earmarked for 2010 would be invested in the Costanera Center, with the $600 million invested in other countries where it operates.

Paulmann said the tower of the Costanera Center project would be finished by mid-2012. The company has operations in Brazil, Argentina, Colombia, Peru and Chile.

Shares in Cencosud closed 3.57 percent firmer on Friday at 1,675 pesos each after the company announced it would detail its 2010 investment plans. Paulmann spoke after the market close.

Cencosud's decision to put construction of the mall on ice back in January came as a number of Chilean companies, including several in the mining sector, delayed investment projects because of the impact of the global crisis.

Friday's announcement came amid expectations Chile's economy likely grew in October for the first time in a year, as mining and commerce pull the economy out of its first recession in a decade due to the global crisis.

Chile has injected billions of dollars as part of a stimulus plan to jump-start the sluggish economy. Chile's central bank has slashed interest rates to record lows to spur lending in the world's top copper producer.
Link: http://www.reuters.com/article/nonCy...17662920091204

Last edited by Takato~; December 5th, 2009 at 03:20 AM.
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Old December 5th, 2009, 03:27 AM   #609
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Old December 5th, 2009, 03:33 AM   #610
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It's official!

Cencosud will restart the construction of Costanera Center on december 17th after a simbolic toast on wednesday 16th.

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Old December 5th, 2009, 01:43 PM   #611
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Old December 5th, 2009, 01:44 PM   #612
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time to modify "On Hold" to "U/C" again!
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Old December 5th, 2009, 01:53 PM   #613
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Great,great news.
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Old December 5th, 2009, 04:34 PM   #614
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The tower will resume works
Dec 17 is the day to start mach¡nes again.

Originally Posted by Roland Brew View Post
Por FIN!!!!

Cencosud anuncia reactivación de Costanera Center

Por Carlos Alonso / La Nación

El presidente de la firma, Horst Paulmann, anunció que además del megaproyecto, la compañía tiene un plan de inversiones por más de US$700 millones para 2010 y reanudará obras en Argentina, Brasil, Perú y Colombia.

Sábado 5 de diciembre de 2009 | | Economía

El 17 de diciembre próximo, a 324 días de su paralización, las grúas volverán a funcionar en Andrés Bello, Nueva Tajamar y Vitacura, las tres calles donde se concentra el megaproyecto Costanera Center, propiedad de Cencosud.

Tras la paralización de obras que anunció la firma el 28 de enero de 2009, fueron muchos los que interpretaron la detención del emblemático proyecto como la prueba más nítida de los efectos de la crisis subprime en Chile.

Con un costo avaluado en 600 millones de dólares, el proyecto de Cencosud contemplaba la construcción de cuatro edificios, todos por encima de los 100 metros, entre los que destacaba una torre más alta (70 pisos) con una superficie de 128.000 metros cuadrados. De hecho, en su momento de mayor plenitud, logró generar 2.800 empleos.

Pues bien, ayer en una sorpresiva conferencia de prensa convocada para las 17:30 horas (con el mercado bursátil ya cerrado), el presidente de Cencosud, Horst Paulmann, confirmó que el emblemático complejo reanudará sus operaciones a partir del jueves 17, así como también las máquinas comenzarán a operar en los centros comerciales de los centros comerciales de El Belloto y Osorno. Además de los proyectos en Colombia, Perú y Brasil, que ya están en obra.

El empresario comentó que su objetivo es dar trabajo y confianza de inmediato a miles de personas y sus familias. “Por eso agradezco a todos nuestros clientes por su confianza”, dijo. El empresario señaló que “el 16 de diciembre la reinauguración será encabezada por la Presidenta Michelle Bachelet y el 17 las grúas comenzarán a moverse para dar inicio a la construcción”.

Inversiones 2010

En cuanto a la inversión para 2010 el holding contempla un plan por más de US$700 millones en el año y de los que 100 millones están destinados al Costanera Center. “Después de 12 meses dedicados a la consolidación y reorganización de sus operaciones, reanudamos nuestras obras en los 5 países de América Latina en los cuales operamos (Chile, Argentina, Brasil, Perú y Colombia)”, afirmó el ejecutivo.

Paulmann dijo que la decisión de reactivar el proyecto se tomó en la mañana de ayer durante una reunión de directorio, ocasión en que se analizó el entorno económico y las proyecciones de crecimiento para todos los países donde la firma está presente.

Sobre la fecha de término de la construcción, informó que el centro comercial y la torre 4 estarán listos a mediados de 2011, mientras que la torre 2 lo estará entre fines de ese año y comienzos de 2012.

El empresario comentó que cuando se le informó a la Presidenta Bachelet “se puso muy contenta, porque para un país es muy importante que haya puestos de trabajo y la decisión la tomamos hoy día para que nadie piense que fue una decisión política, porque en eso no me meto, pues la política es una cosa, el negocio otra y la construcción es otra, porque esto se hace por Chile y por eso tenemos que salir adelante”.

En ese sentido, el dueño del holding precisó que “para diciembre esperan generar mil puestos de trabajo para luego durante el 2010 llegar de 2 mil 500 a 3 mil plazas laborales. Eso sí, no profundizó sobre las condiciones laborales. “Como dueño de la empresa no puedo estar metido en todos los temas” , agregó.

Si bien este reinicio era esperado como símbolo de la reactivación, el empresario no quiso referirse a la materia y sólo se limitó a señalar que “felicitaba a los gobiernos de los cinco países donde estamos presentes por el manejo que tuvieron de la crisis y tenemos confianza que durante el próximo año salgamos de la recesión”.

Aqui estan los links:



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Old December 5th, 2009, 04:53 PM   #615
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That will be wonderful especially when it include 2 hotels ( 35 floors), 1 mall, 2 markets, cinemas, and parking places for 4500 vehicles I think that the owner could make ALOT of money
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Old December 5th, 2009, 09:12 PM   #616
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Old December 5th, 2009, 11:12 PM   #617
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I strongly believe that South America should ahve more tall buildings. Why is it so low leveled? Perhaps a building boom would do it justice. Ecspecially in Sau Paulo, Buenos Aires, and Santiago.

Creo firmemente que América del Sur deben tener los edificios más altos. ¿Por qué es tan baja nivelado? Tal vez un auge de la construcción se haría justicia. Ecspecially en Sau Paulo, Buenos Aires, y Santiago.
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Old December 5th, 2009, 11:31 PM   #618
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This is great news, hopefully it will be all done now without any further delays.
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Old December 6th, 2009, 01:13 AM   #619
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A couple of pics from today, after the restart announcement:

The sign on the top of the tower says: Arriba Chile!, which means Cheer up Chile!


Last edited by napa-sky; December 6th, 2009 at 09:47 PM.
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Old December 6th, 2009, 01:59 AM   #620
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this my favorite tower in latin america!!!!l lloook so cool!! Go Chile!!!

Saludos desde Costa Rica
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