Since the home prices continue to surge in the financial capital of the country, one of the leading real estate developers of India, Lodha Developers have come up with the tallest residential tower in Mumbai. For the financial support, Lodha is negotiating with foreign as well as local financiers.
A banker informed that the Lodhas have approached the property fund of mortgage giant HDFC for over Rs 1,000 cr. and the leading Singapore funds, GIC and Temasek.
Presently, the world’s tallest residential tower is in Australia, known as Queensland Number One which has a height of 322.5 metres. While due to the market downturn, some of the major projects in the West are put on hold, there’s some movement in the Middle-East. Dubai is to come up with a tower of height 516 metres having 120 floors.
The New York architects,Pei Cobb Freed and Partners, who have designed some of the most lavishing architectural marvels across the globe, around 200, are to be hired by the Lodhas for this tower. Some of their famous marvels are Bank of China Tower in Hong Kong, Louvre Pyramid in Paris and John Hancock Tower in Boston.