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Old September 3rd, 2008, 07:43 AM   #6761
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Very beautiful pics !!! Im really immpressed ! thx !
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Old September 3rd, 2008, 09:25 AM   #6762
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Glass floor from flickr, september 2nd by kentatorimoto



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Old September 3rd, 2008, 09:37 AM   #6763
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A bit off-topic: is that true that there's a huge oversupply of office building there? I read an article yesterday thet claimed they have built "too much" and the rent is about to plummet. Not only for this building but for the city overall.
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Old September 3rd, 2008, 10:59 AM   #6764
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Quote:
Originally Posted by _Night City Dream_ View Post
A bit off-topic: is that true that there's a huge oversupply of office building there? I read an article yesterday thet claimed they have built "too much" and the rent is about to plummet. Not only for this building but for the city overall.
As Shanghai would like to get these super 500 firms set up their head quarters there~~there would be a lift in demand in the near future~
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Old September 3rd, 2008, 12:52 PM   #6765
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China's tallest tower aims to take Shanghai higher
29 August 2008
Agence France Presse

The dizziness strikes within the first steps onto the world's highest public walkway as the view of fast-changing Shanghai unfolds from more than 100 storeys up.

China's tallest building, the 492-metre (1,614-foot) Shanghai World Financial Centre, opens to the public on Saturday with the aim of providing unparallelled views of the city.

The 1.4-billion-dollar bottle opener-shaped skyscraper, which took 14 years to build, is the latest testament to Shanghai's -- and China's -- growing financial might.

"It's like painting the iris in the eye of the dragon that ascends to heaven," said the building's owner, Japanese developer Minoru Mori.

From the top, visitors can gaze down on the Oriental Pearl television tower and the Jinmao tower -- previously Shanghai's highest.

Sliver-like barges ply the Huang Pu river while on the opposite shore, the Bund's colonial buildings -- also at one time the city's tallest -- seem pea-sized. People on the ground are specks.

Those who can bear to look straight down at the base of the tower in the Pudong area can see it is ringed by cranes on more than a half dozen building sites out of which more megatowers will sprout.

"Ten years ago there was nothing around in this area," said Mori. "What human beings can achieve and how a city can truly transform itself in 10 years is truly amazing. The pace of change is going even faster here in Shanghai."

Through sections of glass floor, visitors can look through the skyscraper's distinct 30-meter (100-foot) wide trapezoidal opening, which reduces the wind pressure, a risk greater than earthquakes for a building this height.

Instead of resisting the wind, the building lets it pass through, said David Malott, the tower's lead designer for US architects Kohn Pedersen Fox.

The building is also home to the world's highest hotel, a Park Hyatt occupying floors 79 to 93. The hotel posed design challenges for architects because the building can sway up to one metre in high winds. This is almost unnoticeable when standing, but when lying on a bed it becomes apparent.

To counter the sensation, there are two 150-tonne computer-controlled counterweights on the 90th floor. There are springs below the hotel's pool so that water doesn't spill over the edges when the building sways.

Another feature is an elevator specially designed to carry cars up the building vertically to a showroom in the sky.

Originally architects had planned a Ferris wheel that would revolve around the edge of the wind gate, he said, but planning officials vetoed the proposal.

Visitors can now make a similar journey around the opening, but on foot at their own pace.

"The point with this building has always been how do you get people to the very top," Malott said. "We always wanted to get people up as high as they can go."

For most, any dizziness disappears within seconds. Then visitors feel like they are in a bright hall with vistas of the sprawling city of 18.6 million.

The Ferris wheel design was also controversial because it had a circular opening. The US architects called it a moon gate that would frame the Oriental Pearl's pink spheres, establishing a relationship between the two buildings.

But some Shanghai residents feared it was an attempt by Mori to embed the Japanese flag into the skyline, and the debate reopened wounds from Japan's brutal World War II occupation of the city.

Mori changed the design. But the controversy was only one of the problems he had to overcome to complete the enormous project.

He began the building in 1994 with a 30-percent stake but had to buy out his partners as they fled during the Asian financial crisis in 1997. His current stake is 70 percent.

The tower currently has 45 percent occupancy, and Mori expects it to be 90 percent full within a year. He thinks that his company can recoup its investment within 12 years.

Banks including Japan's Sumitomo Mitsui Banking Corp., France's BNP Paribas and Germany's Commerzbank have already signed on as tenants.

The Asian crisis stopped construction for five years. As other other crises -- the September 11 attacks, the outbreak of SARS in 2003 -- battered the optimism about Shanghai's future.

Mori, however, said his faith never wavered -- even during the current global economic slowdown.

"Shanghai has just started its true development into transforming itself into a world financial centre," Mori said. "I don't see any possibility of it shrinking."
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Old September 3rd, 2008, 12:53 PM   #6766
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Quote:
Originally Posted by _Night City Dream_ View Post
A bit off-topic: is that true that there's a huge oversupply of office building there? I read an article yesterday thet claimed they have built "too much" and the rent is about to plummet. Not only for this building but for the city overall.
China's top skyscraper aims to defy property slump

SHANGHAI, Aug 28 (Reuters) - China's tallest building, the 492-metre (1,614-ft) Shanghai World Financial Centre, is on track to hit 90 percent occupancy within a year despite a wobbly property market, its developer and top shareholder said at its opening ceremony on Thursday.

The newest skyscraper in Shanghai's Lujiazui financial district has already reached a 45 percent occupancy rate, with tenants including Sumitomo Mitsui Banking Corp, Mizuho Corporate Banking Corp, BNP Paribas and Commerzbank , Japan's Mori Building Co said.

"There is some chaos in the global financial markets but I'm confident it will not affect Shanghai's financial environment," Mori Building Chief Executive Minoru Mori told a news conference at the 101-storey tower.

He added that the company expected to recoup its investment on the 125 billion yen ($1.14 billion) tower, which is 10 percent owned by Wall Street bank Morgan Stanley , within 12 years.

His high hopes for the skyscraper contrast sharply, however, with a severe slump at many of its potential tenants, as U.S. and European banks such as Morgan Stanley and Lehman Brothers reel from the subprime debt crisis.

Concerns are also mounting that a slowing Chinese economy will sap demand for homes and office space, threatening to end an eight-year real estate boom, while the government has moved to curb lending to developers to suppress speculation in the once red-hot market.

HIGH HOPES

At the same time, competition is heating up as a steady succession of new office towers spring up in Shanghai's financial district, from developers including Hong Kong's Sun Hung Kai Properties and billionaire Li Ka-shing's Cheung Kong (Holdings) Ltd .

The new skyscraper, which offers office and retail space, will be topped by a 14-storey luxury hotel, the Park Hyatt Shanghai, and crowned by the world's highest observation deck.

Mori said he was confident of meeting the 90 percent occupancy target based on the amount of interest expressed so far and the still limited supply of office space in Shanghai.

"Shanghai has just started transforming into a global financial centre and I don't think there's any possibility of shrinking demand for office space. New development is necessary," he said.

"Maybe in 10 to 15 years, Shanghai will need two to three more Lujiazui zones."

He acknowledged, however, that the situation had changed significantly from a year ago, when Mori was in talks with Morgan Stanley and Lehman Brothers about leasing office space.

"Morgan Stanley is doing fairly well, but it may reduce the number of floors it rents from eight to four," he said, adding that the talks with Lehman Brothers had ended.

Morgan Stanley had nevertheless wanted to increase its stake in the building, he said, but Mori refused and has no plans to reduce its holding in the project.

The Mori group hopes to sell some of its properties to investment funds, he added, while ruling out the possibility of an initial public offering, arguing that pressure from shareholders would make it difficult to start projects as ambitious as the Shanghai World Financial Centre. ($1=109.42 Yen)
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Old September 3rd, 2008, 01:32 PM   #6767
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Quote:
Originally Posted by _Night City Dream_ View Post
A bit off-topic: is that true that there's a huge oversupply of office building there? I read an article yesterday thet claimed they have built "too much" and the rent is about to plummet. Not only for this building but for the city overall.
Shanghai vacancy rate of A grade offices is very low.

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Old September 3rd, 2008, 02:59 PM   #6768
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from century
[IMG]http://i34.************/ayovm0.jpg[/IMG]
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Old September 3rd, 2008, 03:03 PM   #6769
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my english isnt that good, what does that all mean? Too many offices? too few?
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Old September 3rd, 2008, 03:27 PM   #6770
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Yes, from what i understand there's a good supply/demand ratio, so hopefully the SWFC will be financially feasible
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Old September 3rd, 2008, 04:30 PM   #6771
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Quote:
Originally Posted by whoami View Post
from century
[IMG]http://i34.************/ayovm0.jpg[/IMG]
LOL, looks like jin mao went to Hong Kong for couple of days.
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Old September 4th, 2008, 01:52 AM   #6772
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my english isnt that good, what does that all mean? Too many offices? too few?
I'm not an expert, but I'd say that the market is demanding faster construction as the vacancy rate is going lower and lower, LOL!

However, more recent surveys released by the same company forecast a slight rebound of the vacancy rate in 2008 because of the huge new supply this year. Many large projects are being opened now: SWFC, Park Place, Mirae Asset, Jasper, Development, etc.
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Old September 4th, 2008, 03:46 AM   #6773
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The lowest observation deck looks over the window cleaning cranes one the lower level?
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Old September 4th, 2008, 11:22 AM   #6774
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Congratulations SWFC!!!
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Old September 4th, 2008, 12:00 PM   #6775
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Fabulous. Skyscraper of the year.
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Old September 4th, 2008, 02:41 PM   #6776
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flickr, september 3rd by JOJO (Give more Expect less)

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Old September 4th, 2008, 03:05 PM   #6777
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Old September 4th, 2008, 03:50 PM   #6778
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Nice pictures, it looks like golden
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Old September 4th, 2008, 05:23 PM   #6779
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"Fairy tale gold bridge"
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Old September 4th, 2008, 05:38 PM   #6780
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