South Korea to build the Worlds Most Expensive Building costing USD $3.45 Billion
Its a strange tag to aim for, usually we see buildings that are the tallest / largest but certainly not the most expensive per unit. The Yongsan Landmark Tower (a name which for once is really accurate, once completed this building shall truly be a landmark) upon completion shall be half a kilometer tall and have a 100 storeys on it. The building is to be built by the Samsung Corporation , the same company who was the main contractor on the Burj Khalifa and the Taipei 101; which definitely means that this is one building that is not going to be stuck for lack of technological know how.
Scheduled to be completed by 2016, the final height of the building is to be within an error tolerance of 25 mm (yeah, millimeters) which sounds insane. However the Koreans assure us that it is very much possible by using three different satellites with GPS technology during construction. The tower has been designed by renowned architect Renzo Piano.
The cost of the Yongsan Landmark Tower is expected to be sky high since it shall be packed with cutting edge features and facilities. The building is expected to be more expensive than the Burj Khalifa (who currently holds the record). The Khalifa cost 11.5 million won per 3.3 sq meters (South Korean currency where-in 1 USD = W1,167). To compare, the Yongsan Tower shall cost 12.1 million won per 3.3 square meters. If all those figures are confusing, then suffice it to say that the final cost of the building stands at 4 trillion won – USD $3.45 Billion. This includes the cost of the land. We were unable to find a similar comparative price for the Burj Khalifa (one that takes care of inflation since the Burj was constructed). It is expected that any further design changes (which are likely) or use of high-tech materials will further increase the cost of the tower. It may well be that the building does not come out to be the most expensive in total cost, but it is definitely the most expensive building in per square unit terms.
A notable feature of the tower shall be the fastest elevators in the world – those that travel at 800 meters (874 yards) per second. Ultra high density concrete (capable of supporting 800 kilos = 1763 pounds per square meter) shall be used in the construction since the weight of the skyscraper will be enormous.
Construction of the tower has now commenced in Yonsan (Seoul, Korea).