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CTBUH Global News

The CTBUH Global News Archive is the primary place to get all the latest news on tall buildings, urban development and sustainable construction from around the world. The CTBUH also disseminates this information via our Monthly e-Newsletter, CTBUH Journal, and through books and reports. To view news for a certain category or time period, please use the links on the left side menu.

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Dubai’s $82 Million Glamz Project Sold Out


08 Jun 2016, Dubai, United Arab Emirates

Just over a month after its launch, the two-tower Glamz project has officially sold all 418 apartments, totaling $82 million. These sales maintain the developer's streak of selling out the entirety of its six launched projects to date. Read more.

Chicago’s Upcoming Vista Tower Has Sold $200 Million in Condos Since March


07 Jun 2016, Chicago, United States

According to sources, Lakeshore East’s upcoming supertall Vista Tower has sold $200 million worth of condominiums since March of 2016. The project is expected to break ground as early as June 2016 with delivery slated for 2020. Read more.

Singapore’s Asia Square Tower 1 Purchased for $2.5 Billion


06 Jun 2016, Singapore, Singapore

After being on the market since 2015, the 43-story Asia Square Tower 1 in Singapore has been purchased for $2.5 billion in what is claimed to be the largest single-tower sale in the region’s history. Read more.

Political Light Installation on Hong Kong’s Tallest Skyscraper Is Pulled


06 Jun 2016, Hong Kong, China

Officials and organizers have pulled the plug on an art installation that was displayed on the façade of Hong Kong’s tallest building, just days after the artists revealed the meaning of a cryptic political message embedded in the artwork. Read more.

Construction Contractor Named for Two Modular Condo Towers in Singapore


03 Jun 2016, Singapore, Singapore

Property developer United Venture Development has signed a contract worth roughly €100 million (USD$113 million) with Dragages Singapore, the local subsidiary of Bouygues Construction, for the construction of two towers. Read more.

Builder Appointed for Sydney’s 18-Story DUO


02 Jun 2016, Sydney, Australia

A builder has been awarded a USD$210 million contract to build DUO – the fifth stage of the USD$1.5 billion master planned Central Park precinct. The 18-story structure encompasses a mixed residential, commercial, and hotel development. Read more.

Chinese Insurance Group Acquires Stake in Landmarked Manhattan Building


31 May 2016, New York City, United States

In a deal worth $1.65 billion, a Chinese insurance group has taken a sizable, yet undisclosed, stake in a landmark New York office block. The insurer is now believed to be the largest investor in 1285 Avenue of the Americas. Read more.

Brooklyn Heights Library Development Plan Under Federal Investigation


26 May 2016, New York City, United States

Subpoenas have been sent to multiple developers that bid on a project to redevelop the Brooklyn Public Library’s Brooklyn Heights branch at 280 Cadman Plaza following allegations that the bidding process was rigged. Read more.

Judge Reviews Plan to Resume Construction on Seattle’s Stalled Potala Tower


24 May 2016, Seattle, United States

Several groups vying to decide the fate of the stalled 41-story Potala Tower recently appeared in US District Court as a judge weighed a plan to hand over the project to a new group of investors. Read more.

Floor Plans Released for Toronto’s Diamond Condos on Yonge


24 May 2016, Toronto, Canada

As sales for Toronto’s Diamond Condominiums on Yonge get underway, the floor plans for the project have been released. The building contains 385 units, of varying sizes and layouts, with plans offering an early look at the suite interiors. Read more.

Chicago’s Iconic John Hancock Center Shopping Naming Rights to Fund Plaza Redevelopment


23 May 2016, Chicago, United States

The owner of Chicago's John Hancock Center is shopping the naming rights for the 47-year-old skyscraper to pay for a proposed $10 million plaza redevelopment. The deal could include a sign adorning the façade of the 100-story tower. Read more.

Chinese Developer Invests in Proposed Seattle Apartment High-Rise


20 May 2016, Seattle, United States

One of China's largest homebuilders is investing in a 39-story residential tower near the Space Needle. Seattle Mayor Ed Murray announced the deal between China Vanke Co. and Laconia Development during a trade mission to China. Read more.

Chicago’s Tribune Tower Redevelopment Could See New Condos, Hotel


19 May 2016, Chicago, United States

While the planned redevelopment of Chicago’s Tribune Tower has been on the table for a while, an upcoming sale of the 1925 neo-Gothic high-rise could see the landmarked structure repurposed as condos, rentals, or a hotel. Read more.

Jeddah Tower Delayed after Contractor Problems


18 May 2016, Jeddah, Saudi Arabia

The developer behind the one-kilometer-tall Jeddah Tower, set to be the world’s tallest building, has said that it is looking to get back up to speed after funding issues with contractor Saudi Binladin Group caused delays. Read more.

Mixed-Use Gold Tower Set for Approval in Brisbane


17 May 2016, Brisbane, Australia

The AUS$270 million (USD$198 million) Aria Property Group development at 171 Edward Street will reportedly include 642 residential units, two levels of office space, and retail space occupied by luxury brands Hermès and Rolex. Read more.

San Francisco Approves Plans for Oceanwide Center


13 May 2016, San Francisco, United States

Foster + Partners has won planning approval for a pair of faceted glass skyscrapers in San Francisco, which will be among the tallest buildings in the city. The pair of mixed-use towers is known collectively as the Oceanwide Center. Read more.

Waterfront Toronto Land to be New Location of LCBO Headquarters


06 May 2016, Toronto, Canada

The Province of Ontario has announced the sale of 4.7 hectares of land along Toronto’s waterfront. The site is planned to be the location of the new Liquor Control Board of Ontario (LCBO) headquarters, thanks to a USD$201 million deal. Read more.

Glamz Housing Project Launched in Dubai


05 May 2016, Dubai, United Arab Emirates

A developer is confident about selling its $82 million, 418-unit Glamz project within a month and expects to launch two more schemes in Dubai before the end of 2016. The project will be built next to the existing Starz by Danube in Al Furjan. Read more.

Study Claims Hudson Yards Will Generate Billions in Revenue for New York City


04 May 2016, New York City, United States

The Hudson Yards megaproject will contribute close to $19 billion to New York City's economy when it's complete, according to a study commissioned by developers Related Companies and Oxford Properties Group. Read more.

Bombay High Court Demands Demolition of Mumbai High-Rise


29 Apr 2016, Mumbai, India

On April 29, The Bombay High Court ordered the demolition of a high-rise building known as Adarsh for violation of green norms. The building was allegedly constructed in total violation of Coastal Regulation Zone rules. Read more.

New York City’s Sony Building to be Sold


27 Apr 2016, New York City, United States

Olayan America is in the process of negotiating a contract to acquire the former Sony Building at 550 Madison Avenue for more than $1.3 billion, after Chetrit Group and Clipper Equity scrapped plans to convert the upper floors into condos. Read more.

80-Story Midtown Tower Planned for New York City


25 Apr 2016, New York City, United States

Investors are planning a mixed-use skyscraper of up to 80 stories high in the Garment District of New York City, after closing April 20 on the missing piece of an assemblage spanning 35,000 square meters, according to sources. Read more.

Developer for Ryde Garden Complex in Sydney Finalizes Contract with Construction Firm


25 Apr 2016, Sydney, Australia

After negotiating since October 2015, the developer behind Sydney's Ryde Garden development at North Ryde has finalized a USD$204 million contract with the selected construction firm. Construction is expected to complete at the end of 2018. Read more.

Manhattan’s 111 Murray Street Units On the Market


22 Apr 2016, New York City, United States

Renderings of a 58-story, 241-meter condominium tower – called 111 Murray Street – have been revealed to entice buyers into purchasing one of the 157 luxury units. Unit prices start at $1.5 million and climb to a whopping $18.5 million. Read more.

Proposal for Brooklyn’s First Supertall is Approved


21 Apr 2016, New York City, United States

On Tuesday April 19, the New York City Landmarks Preservation Commission approved a proposal for 9 DeKalb Avenue, a 73-story apartment building that is set to become the first supertall in New York outside Manhattan. Read more.

LondonHouse Chicago Hotel Sold for $315 Million


18 Apr 2016, Chicago, United States

An Oxford Capital Group, LLC-led venture with Angelo, Gordon announced on April 17 the $315 million sale and 25-year lease-management back of LondonHouse Chicago to Germany's Union Investment Real Estate. Read more.

Residential Tower to Launch at Sydney Olympic Park


15 Apr 2016, Sydney, Australia

A local developer is about to launch the first apartment tower on Olympic Boulevard at Olympic Park in Sydney. Designed by Bates Smart, the tower's design features a unique boomerang shape intended to increase exposure to sunlight. Read more.

Sale Pending on Sydney Ribbon Hotel Project


14 Apr 2016, Sydney, Australia

Grocon has chosen a heavyweight Chinese consortium to buy the AUD$700 million (USD$540 million) Ribbon hotel development it has proposed on the site of the IMAX cinema at Darling Harbour, according to The Australian. Read more.

New York City is Seeing a “Penthouse Correction” in Luxury Apartment Prices


12 Apr 2016, New York City, United States

Of the 261 penthouse units for sale in Manhattan as of April 1, more than 35 percent of them had price chops since being listed, according to data compiled by listings portal StreetEasy at The Real Deal’s request. Read more.

Bouygues to Build La Defensé Tower Funded by Emirati Investments


12 Apr 2016, Courbevoie, France

Bouygues has won a €200 million (USD$227 million) order to build a 150-meter-tall tower in La Defensé, the financial district of Paris, that is being developed by the Abu Dhabi Investment Authority (ADIA). Read more.