X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

INCHEON, SOUTH KOREA-A developer consortium has broken ground on the 151-story Incheon Tower, expected to become the second tallest tower in the world. The developers are Portman Holdings, Samsung C&T Corp. Hyundai E&C and SYM Associates. The mixed-use building is part of the $35 billion, 1,500-acre Songdo International Business District, going up here in this port city about 15 miles west of Seoul.

At 2,000 feet high, the 5.7-million-sf building will have a multitude of uses. There will be 30 floors of commercial offices, a 300-room hotel, apartments and condominiums, two public observation levels at floors 118 and 119, five stories of retail and a restaurant at the top of the tower, according to a statement from the project engineers, Thornton Tomasetti. Three four-story sky bridges will connect floors 57 to 60, 84 to 87 and 116 to 119. The company did not return a request for comment.

South Korean President Lee Myung-bak said at the groundbreaking ceremony that the tower will symbolize the city and the country, according to the statement. “I hope this project delivers a better standard of living and more jobs for the city, and the country as a whole,” he said in the statement.

The entire Songdo district will have a total build out of 100 million sf, and is expected to have 65,000 residents. Completion of the Incheon Tower is now expected for 2014, according to the statement. It’s not clear why the finish date has been moved back from 2010, as reported in a previous GlobeSt.com story. The building was designed by John Portman & Associates.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.