It seems a new trend has emerged among the builders of the world: He who constructs the tallest structure wins. Put this way it may seem frivolous; a competition that brings about no real benefit apart from publicity boosts. Looking more closely however, the situation becomes more interesting. The objective is not just to get noticed on the scene, but to outsell competitors and therefore increase profit while creating innovative projects and exclusive living solutions.
Well-heeled modern investors naturally are forever seeking something new and exclusive, and a 10th floor penthouse just won’t cut it any longer. This demand has created a craze to dominate the city from on high, and high rise projects are going taller and slimmer.
Just look at Manhattan, New York’s most famous district, where plans have been laid to build four of these huge metropolitan skyscrapers. New York has always been home to many skyscrapers, buildings exceeding 100 feet . The tallest of these in New York was recently completed and measures just over 300 meters high and is especially coveted by investors eager to capitalize on their real estate assets. However, other projects underway promise to beat this record, hoisting their prestige ever higher. In the coming two years, construction of a skyscraper at 432 Park Avenue and 111 West on 57th Street will come to conclusion, both of which will surpass the One57 building in height. Yet, even their imminent record is not destined to reign long, because in 2018 another giant is projected, at 225 West 57th Street. Dominating its neighbor, the expected height of this project is 540 meters, nearly twice that of One57.
Analyzing the global cityscape, it’s obvious that conquering vertical space rather than horizontal is becoming nearly obligatory in the construction of new projects. The luxury real estate market in Hong Kong ,Singapore, Shanghai, London and New York have in fact exhausted the availability of buildable space, making skyscrapers the obvious option for the continuation of development and growth, and creating trophy homes sought after in particular by wealthy Oriental investors.