151-floor tower planned in South Korea
Atlanta's John Portman inks deal to construct 2,000-foot building near Seoul, South Korea.
NEW YORK (CNNMoney.com) - An American real estate developer is planning to build one of the world's tallest buildings near Seoul, South Korea.
Atlanta-based developer Portman Holdings said it has signed an agreement with South Korean officials to build a 151-floor, 2,000-foot tower that would be about 20 miles from nation's capital.
The building, the Incheon Tower, would be the centerpiece of a 1,500-acre, $11 billion residential, office and hotel complex, and would rival any current skyscraper, although there are often disputes as to how to count the height of various structures around the globe.
According to Emporis, a firm that tracks the global building market, the world's tallest today is the Taipei 101 tower, opened in 2004 at 1,671 feet and 101 stories. The Burj Dubai, under construction in Dubai in the United Arab Emirates, is planned to be 2,313 feet and have 160 floors, according to Emporis. It is due to open in 2008, according to the service.
Towers more than 2,000 feet tall reportedly have also been proposed for Katangi, India, and Moscow. The Freedom Tower, the replacement for the World Trade Center in New York, is to be 1,776 feet, according to current plans, which would make it the tallest U.S. building, passing the 1,441-foot Sears Tower in Chicago, currently the world's fourth-largest structure, according to Emporis.
Asia has seen a building boom in skyscrapers, with seven of the world's eight tallest completed buildings there, all opened within the last 10 years, according to Emporis.
Portman Holdings, run by Atlanta developer John Portman, has built a number of towers in Shanghai, China, and Singapore, although none have made the list of the world's 10 largest buildings. The proposed tower would also be significantly larger than anything else in South Korea. The tallest building there is a 72-floor, 865-foot tower that's part of the Samsung Tower Palace complex in Seoul, according to Emporis.
For a look at the "Curse of the Skyscraper" and what it means for the economy, click here.