Oh wow that looks pretty nice imo. Its so close to that hotel.
That means "on speculation." In other words, they would be building the tower without any tenants lined up beforehand. They'd be "speculating" that they'd be able to find tenants to fill up the tower while it was being built, or at least soon afterwards. This can be very risky, especially if the economy is starting to go downhill.I'm sorry but could you explain what you mean by "on spec?"