Singapore’s tallest skyscraper to be built by Alibaba and local partners
Singapore’s tallest skyscraper to be built by Alibaba and local partners. A 63-story mixed-use building at Shenton Way in the Central Business District is what Chinese internet giant Alibaba and a group of investors led by the Singapore-based Perennial Holdings are planning to erect.
When it reaches its maximum permitted height of 305 meters, the project may surpass Singapore’s 284-meter-tall Guoco Tower as the tallest structure in the country.
According to a spokesman on Friday, August 5, the highest building height allowed by the URA for developments in Singapore is 305 meters. According to her, the permitted construction heights must adhere to technical requirements and be assessed in light of the particulars of the site. Developments would need to follow approved plans and rules during construction.
A 50-story building formerly known as AXA Tower will be torn down to make room for the new building at 8 Shenton Way in Tanjong Pagar. The Treasury Building, which formerly housed the Temasek Holdings headquarters, was first housed on the property in 1986. When finished, the project financed by Alibaba might join Guoco Tower as the only structures in Singapore that are taller than 280 meters.
According to a grant of written approval given by the URA on July 7, the proposed project has designs approved for retail, restaurant, office, hotel, and residential components in addition to an underground pedestrian link. The project would occupy up to 148,450 sq m in total gross floor area. According to the URA’s approval, 215 residential apartments with sky terraces will receive a total of 49,421 square meters, or 87,967 square meters, of the building’s permitted gross floor area. This amount will be used for commercial activities. The hotel’s 11 suites will have a combined square footage of 6,775 m2, with the rooftop, interior common areas, and balconies occupying the remaining floor space.
Alibaba Group has made a deal to purchase a 50% stake in AXA Tower in 2020, for a total transaction value of S$1.68 billion.
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