The latest addition to the Singapore skyline will be built by Chinese tech giant Alibaba in partnership with a consortium of companies led by real estate firm Perennial Holdings, Channel News Asia reported.
The building, which has a maximum approved height of 305 meters, is set to be taller than Singapore’s current tallest building – the 284-meter Guoco Tower. A Singapore Urban Redevelopment Authority representative had said that the new building is the highest granted by the authority for developments in the city-state.
Set to be completed in 2028, the building has plans to have retail, restaurant, office, hotel, and residential components, with a gross floor area of 148,450 square meters.
Alibaba recently announced its 1Q 2022 financial results with revenue staying flat at US$30.4 billion due to a resurgence of Covid-19. This comes after the tech giant was labeled as a delisting risk by the US Securities and Exchange Commission due to the Chinese firm’s failure to comply with auditing regulations.
See also: Alibaba’s financial health in 5 charts
Editing by Miguel Cordon
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
