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40% of global top skyscrapers are in China, research shows
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ABOUT 40 percent of the world's 79 skyscrapers standing 1,000 feet (304.8 meters) high and above are currently in China, a latest research released by Knight Frank showed.
"The expansion upwards in the major Chinese cities has been a remarkable phenomenon over the past decade," said Nicholas Holt, head of research for Asia Pacific at Knight Frank, which just released the Skyscraper 2015 Report after tracking prime office rents in 18 markets around the globe. "The fact that 40 percent of skyscrapers in the world with heights over 1,000 feet are in China underlines the growing importance of the country’s economy on the world stage."
Worldwide, Hong Kong still tops the Skyscraper Index ranking with the world’s highest office rents at US$250.50 per square foot per annum for the fourth quarter of 2014 (approximately 42.5 yuan per square meter per day). Knight Frank Skyscraper Index ranks cities based on a score system that deploys a range of criterias including skyscraper office rents and yields, the spread offered by investment yields compared to national bonds, the number of high rises built and growth prospects for the city.
Shanghai ranked the tenth place in Knight Frank’s latest Skyscraper Index, with the skyscraper office rents reaching US$68.75 per square foot per annum. Shanghai’s skyscraper cluster is found in Little Lujiazui in Pudong New Area, where the Shanghai Tower, which is now the tallest building in China and the second in the world, has reshaped the skyline of the city.
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