Defying the downturn, city builds even higher – Shanghai Daily

Three months after opening the world’s second-tallest skyscraper, Shanghai is about to start construction of an even taller building – in the face of an economic slowdown and falling property prices.

Construction on the 632-meter Shanghai Tower, expected to cost 14.8 billion yuan (US$2.17 billion), will begin in Pudong’s Lujiazui financial district tomorrow, developers said yesterday.

[SOURCE: Shanghai Daily – Defying the downturn, city builds even higher]

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