SHANGHAI | World Financial Center | 1,614 FT / 492 M | 101 FLOORS

[Aboveday]

Please choose"Chinese-simp to English".


Translation done by the machine:
How long date round the world does the financial center also have to let Pudong wait for: 2004-04-19 author: Wang Xixi originates: Eastern morning paper

Yesterday was Pudong develops opens the 14th anniversary commemoration day. Lu Jiazui stands in great numbers which in the tall building finance trade development zone, took of a Shanghai round the world financial center Pudong sign constructions, in has been through repeatedly for 7 years by to begin the process which arrives again after the work suspension resumes work, actually until now has not seen its trail. Facing outside all sorts of questions, project company ¡¼¡¼Shanghai round the world financial center limited company vice- chairman of the board, General Manager Japanese bamboo Necker denied the project fund to have the question, and expressed the company was handling the capital capital to increase the capital procedure. After the Shanghai round the world financial center building in August, 1997 first officially laid a foundation, putd aside because of the financial crisis in Asia eruption. On February 13, 2003, the building hold resumes work the ceremony, and proposed 101, 492 meter new design altitudes, become the world first design altitude. In the same year on October 17, the Taibei 101 buildings highly become the global highest building by 508 meters. But believing of the bamboo Necker, the altitude which can mount by the person, but must added on the antenna, the Shanghai round the world financial center still for the world first altitude. But in 2003 second time begins the latter more than year, now also in makes the preliminary turret area hole excavated for building foundation surrounding protection project, saying of the bamboo Necker, this is because design proposal in examination and approval process. The financial center new plan designs in July, 2003 to plan the bureau examination and approval through the Shanghai government, on October 30 through expands at the beginning of designs, at present is carrying on the construction drawing design. The building by once designed the permanent prosperous square the American KFP design, because highly increased from 460 meters to 492 meters, the floor space increased 10% -20%, authenticated through the government department needs the quite long time. In June, 2003, after the Shanghai round the world financial center resumed work has made up more than 50 piles. In hereafter 9 months, has only constructed the scene temporary office building. Tongji University professor, national level of registrations architect Xue Wenguang tells reporter, likes the Shanghai round the world financial center such big executive project, (1 month) to expands from the plan design at the beginning of designs (for 2 months), the construction drawing design (3 months), the about half year sufficed. Regarding this, explanation the bamboo Necker said the time main flower in the government correlation department's many times examination and approval. Expression construction the bamboo Necker already again opened, but he refused to disclose the construction progress. The Shanghai round the world finance building by "the Shanghai round the world financial center limited company" the construction, this company by the woods building joint-stock company and the Japanese 33 banks, insures, the business organization and so on the cartel tenable legal person "the Shanghai round the world financial center investment joint-stock company" the sum total investment. In February, when 2003 second time begins, the building total investment cost increases from the original 75 billion Japanese Yen to 100 billion Japanese Yen (approximately 7.8 billion Renminbi). In a side golden cyclopentadiene building, then spends 560 million US dollars. Saying of the bamboo Necker, according to the foreign capital law, the foreign capital enterprise which invests in China helps the capital to have to achieve 1/3, therefore the Shanghai round the world financial center limited company registration capital is increasing from 25 billion Japanese Yen to 33 billion Japanese Yen above, the related procedure is handling. Bank financing including domestic and foreign banks, also had the European and American enterprise to express the interest. Expression the bamboo Necker, they do not have the money the question. Reporter reigned on the other day nearby the golden cyclopentadiene building job location notes, in the fence the continuously vacant work site started to construct, according to the security said nearby scene headquarters young Lou in the work shed had more than 600 labourers. Side the Bank of China building staff said that, recently a month, evening here was brilliantly illuminated, the cement pump vehicle passed in and out. In the location sign is writing: The ground plans 250 day to complete, the ground construction side is Long Yuan constructs the group, the ground design side is the ships industry ninth design research institute, overseeing is the Shanghai construction work design institute.

[Beyond 1000]

Simple translation........Big Fat Nothing.

Do not get too excited about this going up. Some may say that a dead horse is being beaten.

[zternal]

sounds like its finally being built. yay!

[avcellvs]

May 29th 2004, from the Oriental Pearl.

Don't get too excited, very bad pic, dark and hazy weather you'll have to force contrast to be able to view something.

I'm not sure about what I see. Are they digging a cylindrical hole? Since last pic from the Oriental Pearl was on the 4th of april, many changes might have occurred. But this seems unusual in Lujiazui, I never saw this type of foundations there. Tell me what do you see/think.

http://community.webshots.com/s/image12/4/51/47/151945147BlUqXS_fs.jpg

[Matace]

I don't see anything. I tried posting the URL as an image and just got a red cross.

[avcellvs]

This server does not accept direct linking. To download the pic, You have to copy the url and past it in a new window.

[teddybear]

It seems to be a low depth circular hole. Before the foundation was, as I remember, a rectangular hole filled with water. Not sure what they are doing...

[dchen]

I believe they are building a circular underground wall in order to build the foundation. This seems to be similar to US7 in HK, which is rectangle at the building base but the hole is also circular.

[Fabb]

the building total investment cost increases from the original 75 billion Japanese Yen to 100 billion Japanese Yen

... for a mere extra 30 m ?
Or because of the sinking problem ?

[Lecom]

Wasn't the base of 2IFC a big circular hole too?

[Fabb]

That's right.
A big circular hole and eight super-columns that remained unchanged for over six months.

[avcellvs]

Fabb, do you think the overcost is due to these complementary foundation works, because of the discovering of Shanghai ground resiliance?

Well at least, something spectacular is now happening on the plot! I only wish more people who climb up the Oriental Pearl turn their camera to the yard.

[avcellvs]

Found this pic in the skyscraperspage gallery : a wind tunnel model from the Skyscraper Museum in New York City. Beautiful isn't it!

http://skyscraperpage.com/gallery/data/570/4skyscrapermuseumswfc.jpg

[Fabb]

Fabb, do you think the overcost is due to these complementary foundation works, because of the discovering of Shanghai ground resiliance?

Don't you think that it might be a possibility ?
And it might explain the delays, too.

[JACKinBeantown]

avcellvs... that wind tunnel model of Jin Mao is cool in person. It has about 2,000 or so tiny holes that funnel the wind into the center where it is measured. You can see them: all the little copper looking tubes.

[avcellvs]

Fabb, do you think the overcost is due to these complementary foundation works, because of the discovering of Shanghai ground resiliance?

Don't you think that it might be a possibility ?
And it might explain the delays, too.

Yes this sounds like a credible hypothesis. I rode the metro line particularily suffered from the ground resiliance problem in Lujiazui (in Puxi, an old house collapsed...). As the line passes under Century Avenue, very close to the WFC and the JinMao, a very special care may be needed. Hence these complementary works? Is there any new technique that allows to solve this question?

[avcellvs]

June 13th 2004, nice weather, rare view from the HSBC Tower.

Well, not any view on the WFC plot for two mounths then one per day!. Do enjoy this happy coincidence! It may well not last long...:(.

It is a bit disappointing, the whole circular hole has not been dug :no:, just half of it! :hell:. Does that mean we'll have to wait two more mounths before we see the building rise?

http://community.webshots.com/s/image12/4/36/95/152443695xUBbQG_ph.jpg
Full resolution :
http://community.webshots.com/s/image12/4/36/95/152443695xUBbQG_fs.jpg

[Matace]

There are few things i hate more than seeing a big hole dug when i'm waiting for a skyscraper to be built.

[teddybear]

Seems like it will be built eventually, though it is very very slow progress. From empty land now to this.

But it depends on what happen on Mori company I think, and in the minds of Mori's executives.

[coth]

Due to bandwidth limitations I had to stop hosting that file of SWFC. I think most of you have downloaded it anyways.

here guys, if someone still not watch it...
http://coth.hotbox.ru/video/shjinrongzhx.avi
sorry guys, hoster deleted video...

[vincent]

looks like the tower won't rise until the summer of next year for the least. The foundation is still at a VERY early stage.

[Insane Alex]

^That's bad news! :( I have waited a long time for this tower to rise! :(

[avcellvs]

June 17th 2004, from the Stock Exchange Building :

http://community.webshots.com/s/image9/7/58/89/153775889YFhkiP_ph.jpg
Full resolution :
http://community.webshots.com/s/image9/7/58/89/153775889YFhkiP_fs.jpg

[Chad]

wow...I'm glad that it's REALLY Under consstruction...:)

[Fabb]

There's still not much evidence of a busy construction site.

[Beyond 1000]

I believe Vincent is correct in his prediction when US7 will rise.

First, there is the podium to deal with. As Vincent stated, at least one year from now.

Not the news the I or anybody in the forum wants but good things in life take a long time.

[Beyond 1000]

Did I just say US7?

Sorry I meant SWFC. ;)

[Aboveday]

WOW,they removed all the old stuff under the ground and redo the foundation?

[coth]

1 june
http://forum.cameraunion.net/upload/545/54574/54574_1086059888.jpg

4 june
http://forum.cameraunion.net/upload/545/54574/54574_1086327509.jpg

10 june
http://forum.cameraunion.net/upload/545/54574/54574_1086844829.jpg

14 june
http://forum.cameraunion.net/upload/545/54574/54574_1087190560.jpg

16 june
http://forum.cameraunion.net/upload/545/54574/54574_1087351325.jpg
http://forum.cameraunion.net/upload/545/54574/54574_1087351440.jpg

17 june
http://forum.cameraunion.net/upload/545/54574/54574_1087449312.jpg

21 june
http://forum.cameraunion.net/upload/545/54574/54574_1087795322.jpg

24 june
http://forum.cameraunion.net/upload/545/54574/54574_1088416402.jpg


hmm, what is this very tall tower near SWFC?
http://forum.cameraunion.net/upload/545/54574/54574_1087449701.jpg



hope, you guys from China will translate us it
http://forum.cameraunion.net/showthread.php?threadid=221857&pagenumber=1

[avcellvs]

Fantastic coth ! U have been reading my mind !

I was wondering how long it will take to dig that circular hole and I was trying to find this kind of chronological serie of pix : 3 weeks, this does not seem too slow afterall...

Will effective construction start soon (underground floors) ?



The building on the Lujiazui model is the third planned supertall which would be built on the plot of the temporary golf practice.

I have been reading an interview of a city planning official who said the Shanghai's sinking problem won't stop this one. Some day, later... may be never...

Another supertall had also been considered for the plot where now stands the Central Green Park :

http://skyscraperpage.com/gallery/data/570/456shanghai_euroorthopolis.jpg

http://skyscraperpage.com/gallery/data/570/456shanghai_euroorthopolis_01.jpg

[coth]

telepathy:)

[vincent]

wow, that's literally the front row seat to watch this giant grow!!

[avcellvs]

Yes, let's hope we'll regularily get these great updates from the chinese forum coth pointed out.

[Fabb]

The fourth super-tall was amazing.
I'm afraid that Central Green Park is not temporary, right ?

[Razqal]

Shanghai is sinking and yet they're still planning to continue to build more skyscrapers. Isn't there something wrong with this picture?

[Islander]

Who knows, most of the skyscrapers might be OK as long as the bedrock is.

[Aboveday]

Fantastic coth ! U have been reading my mind !



http://skyscraperpage.com/gallery/data/570/456shanghai_euroorthopolis.jpg

http://skyscraperpage.com/gallery/data/570/456shanghai_euroorthopolis_01.jpg

This is only a concept plan from a school .:)
A law has been set up to limilt the density and height in the downtown,it is the reality.

[avcellvs]

From the same source coth pointed out. Digging and digging and digging... much activity !

June 30th 2004 :

http://forum.cameraunion.net/upload/545/54574/54574_1088573913.jpg

[coth]

damn, very fast!

[ztopp]

That's just great!! Much activity going on. Let's just hope they keep up the pace.

[some_stupid_nut]

That is fast! I just saw that last picture posted. WOW! Only a few weeks back it was nothing! This thing might actually be built!

[avcellvs]

Late june photo, from the Oriental Pearl :

http://photos2.worldisround.com/photos/3/550/420_o.jpg

[teddybear]

How come only the hole left and all disappeared, in the last photo?

[avcellvs]

This last photo I posted was shot a few days ago (see the hole is not totaly dug yet).
I just though it was of some interest because of the different angle and the possibility of direct linking.

The latest one is the june 30th picture.

[tuy]

Jin Mao and WFC together will look awesome. I like the angle from the Oriental Pearl. Once WFC comes out of the ground it will make for a good progress reference. You will be able to judge how tall it is against Jin Mao. The picture of Jin Mao itself is impressive.

[Beyond 1000]

The Jin Mao is one of my favorite buildings. It looks spectacular. SWFC will be one of the most awesome buildings to be put up along with the Burj Dubai. Last we heard the height was to be 492m or 1613 ft tall. I wonder if the height of SWFC changed at all.

[Razqal]

honestly, i don't think Jin Mao is that great looking. are Shanghai skies always grey? i've yet to see a picture of shanghai with clear blue skies.

[Sinan]

honestly, i don't think Jin Mao is that great looking.

what did you expect from a skyscraper..? :D

[avcellvs]

July 5th 2004 : deeper and deeper, digging activities.

http://forum.cameraunion.net/upload/545/54574/54574_1089011821.jpg

[Dark357g]

Yes, these pictures rock. How deep do you think they will dig?

[Fabb]

What the hell have they been doing between July 1997 and July 1998 ?
Was that work of any use ?

[ztopp]

^Probably financial problems and problems with the sinking of the city. After all those years of delay, all these digging really makes me glad that they're building the SWFC afterall. I think the hole will be a bit deeper than US7.

[avcellvs]

What the hell have they been doing between July 1997 and July 1998 ?
Was that work of any use ?

May be foundations had to be totally rethough and reconstructed after the discover of Shanghai ground problems.

July 97 to july 98 for the former foundations? The first cranes appeared in march 2004, will we have to wait until march 2005 for the mere foundations completion ?

Any architect of building engineer there to give us and estimation ? How deep will they have to dig until constrution begins ?

[vincent]

although i am not a civil or structural engineer, but i am familiar with this kind of foundation. The completion of the foundation is about late 2004 or early 2005 for the fastest.

[Fabb]

That's what I was afraid of.
The question is, will it rise fast after the foundation is completed ?

[vincent]

once it rise overground, i think it will take less than 2 years to top out.

[avcellvs]

July 8th 2004. The digging seems quite fast.

http://forum.cameraunion.net/upload/545/54574/54574_1089276497.jpg

[dchen]

I guess building foundation may probably be through mid 2005. That means it would start to rise in mid 2005 and top out in early 2007.

The guy (Cityrain) seems giving updates every Monday and Thursday. Great photos!

[JACKinBeantown]

Lots of big buildings about to go up with big holes currently in the ground. (Shanghai, NYC, Moscow, Hong Kong). It will be fun to see them all go up at once.

[teddybear]

oh yes, this is really a progress and I can see this building is eventually built now.

[avcellvs]

A july 6th 2004 posted pic, from the Oriental Pearl.

http://community.webshots.com/s/image14/3/67/33/160136733mbxcYY_ph.jpg
Full resolution :
http://community.webshots.com/s/image14/3/67/33/160136733mbxcYY_fs.jpg

[dchen]

There is a news article about SWFC.

http://finance.sina.com.cn/g/20040710/1130862800.shtml (in Chinese)

The article says the funding of the project is still under way. Since Japanese banks are hesitate in providing loans, the developer is now seeking loans from local Chinese banks. China Construction Bank may become the leading bank for financing the project.

The article also concerns about return of investment. It estimates that the rental would have to be much higher than that of Jinmao in order to break even.

Besides, it says engineering design work is also being completed. And around end of this month, review for observation desk security and building fire control has been planned.

[Fabb]

it says engineering design work is also being completed

Still being completed ?
I knew there was a problem.

[vincent]

after i read that article, looks like swfc is in some serious financial problem. The money that they have right now probably just enough to build the foundation. Well, at least they can make it the world's largest and deepest swimming pool even if the tower can't finish. ;-)

it say the construction blueprint is in process, not the engineering design work.

[vincent]

the cost of swfc is crazy, base on all the data listed in the article, i calculated that the developers will break even 53 years after the completion. (assuming the same rent per sq ft and profit as Jin Mao tower). So they definitely need to increase the rent.

[Beyond 1000]

I hope SWFC gets built but don't hold your breath until you see it finally rise from the ground and start to go up. The costs are so high on this that the Mori Building Co. is now desparately trying to go to local Banks, as dchen wrote above, to get the project going. In know that the present cost is up from the original by over $200 million U.S. The costs can NO LONGER escalate or its over for this project.

SWFC is NOT a done deal.

:no:

[avcellvs]

The money that they have right now probably just enough to build the foundation
Let's be careful we don't really know.

Very slow foundation works to save time for finding the necessary loans for construction ? This does not seem coherent with the more intense activity one can notice since the digging began. If there was not anymore money to go further than foundations they would not have accelerated.

Seriously, will Mori Co. run the risk to loose all the money they have already spend on foundations if they had not a real hope to construct the building ? In 98, construction was stopped by a serious financial crisis in Asia. Nowadays, though the SARS could be a threat, China's entrance in the WTO and Shanghai boom must be creating conditions for a suitable office building market for this project, whatever the rentabilty of a prestige highrise can be.

May be there is also another dimension to this financing difficulties. I remember the controversy about the building top hole symbolism; due to japanese WW2 atrocities negationism there still is a very deep tension in between China and Japan. For a japanese bank, financing a despised project in an hostile country might well not turn to be a very interesting operation in communication terms. Hence the looking for a local chinese financing ?

[Razqal]

Well if you guys have been following up on current affairs, which most of you seem to do, the Chinese govt. have been trying to slow down the economy for fear of overheating. That includes pressuring banks to stop or slow lending for new construction projects since the office and housing markets are being saturated in some cities. I would think that doesn't bode well for Mori to get financing from Chinese banks to build his building.

[vincent]

avcellvs, not sure if you can read chinese. Try to read that article if you can. I think it will give you a different view.

[duabi]

Today's news about SWFC:

http://yam.udn.com/yamnews/daily/2124980.shtml
Taiwan's UDN(in tranditional Chinese)

[avcellvs]

What does it says? What are the main informations? Sorry, most of us don't read chinese.

[coth]

yeah, will be good, just if you will say in few words what it article about

[duabi]

After reading dchen's news again, I found that UDN might just copy information from the source.

dchen's news is more detailed...

[Aboveday]

Translated by http://babel.altavista.com/




Quote:
After the world first tall building construction stagnated the riddle to lay a foundation for 7 years still was open area http://finance.sina.com.cn on July 10, 2004 11:30

economical observation newspaper -
Special correspondent Li Fengdi
newspaper Reporter Zhou Yiting

In the Shanghai urban planning hall, the narrator stands nearby a giant Shanghai plan model plate, in detail will explain the Shanghai future to the tourist the city prospect. When explains Lu Jiazui which most has the Shanghai symbol significance the local zone time, the light has suddenly extinguished, bunch of strong light beams concentrate in Lu Jiazui on the model. "This highest construction, is round the world the financial center... ... " Nearby the Chinese first tall building gold cyclopentadiene building, is towering an bigger white construction model □□round the world financial center. Where is this design altitude thousand digital products 1 Yuan hot racket Sina spot passes individuality smsDIY 海纳 hundred Sichuan waiting pavilion media to be allowed free to send the short note? After 492 meters buildings complete, not only will be China's first tall building, also is the world first tall building, without doubt could be the future Shanghai's new mark. However, leaves the Shanghai urban planning hall, arrives Lu Jiazui "round the world the financial center" the scene (Shanghai Pudong newly developed area Lu Jiazui financial trade area Z4-1 number land parcel), sees still or a piece to have the innumerable places pile the open area. In the distant place, Lu Jiazui other together gold land parcel □□original Lu Jiazui the good food city did not rebuild actually already relocates the start. Entire young Lu mouth finance area, only is left over "round the world the financial center" the land parcel also very quiet to lie down in there. Officially laid a foundation from August, 1997 calculated already nearly 7 years, round the world the financial center scene still is the low-lying land, is quietly together. When reporter wants to inquire into when reason, correlation organization and so on Shanghai government, designing department, bank is equivocal, only has been the repeatedly expression project since resumes work always has the progress, the hole excavated for building foundation maintenance and excavates in at the end of September can finish, at present is carrying on the construction drawing the design, estimated in 2007 is completed. These replies certainly cannot cover many place questions which round the world the financial center at present exists. Riddle of the fund The Shanghai round the world financial center developer is the Shanghai round the world financial center limited company, company chairman of the board is the lucky village bright court attendant. But the genuine investor is Japan's real estate developer □□woods overseas joint-stock company. Reporter consults from the industry and commerce department to the material demonstrated that, the Shanghai round the world financial center limited company for the foreign investment enterprise, the newest demonstration registered capital is 213 million US dollars, the shareholder has two, woods overseas joint-stock company occupies 51.2% stockholder's rights by 12.8 billion Japanese Yen spending limits, another Japanese enterprise □□Shanghai round the world financial center investment joint-stock company occupies 48.8% stockholder's rights by 12.2 billion Japanese Yen spending limits. According to reporter understood that, "the Shanghai round the world financial center investment joint-stock company" by cartel investment and so on Japanese 33 banks, insurance, business organization sets up becomes. The Shanghai round the world financial center limited company the material which registers in the industry and commerce department demonstrated that, cuts off on July 7, this family is established November 17, 1995, the registered capital is 213 million US dollars companies at present as really only has as the fund, is 12.8 billion Japanese Yen which on November 13, 2003 invested □□establishment time have been later than nearly 8 years. This investment examines the capital by the Shanghai jaguar accounting firm limited company. So, the Shanghai round the world financial center limited company registered capital amounts to 213 million US dollars, but actual arrives the fund only then 12.8 billion Japanese Yen □□approximately to convert into 109 million US dollars, only accounts for the registered capital 51.2%. The coincidence is, this exactly is equal to Shanghai round the world financial center limited company of a woods overseas joint-stock company's two shareholders spending limit. Whether this did mean forms the Shanghai round the world financial center investment joint-stock company of many cartel to have financing to be difficult? Reporter still was unable to confirm regarding this. But, the Shanghai round the world financial center limited company fund slowly cannot arrive actually is a fact. The situation not all arrives which regarding the fund, the Shanghai round the world financial center limited company indicated to reporter, industry and commerce (department) the information has the mistake, their registration capital is completely defers to the country to request to do, already completely arrived. Except round the world the financial center project, the woods overseas joint-stock company also has invested another real estate project □□Huifeng building in Shanghai, the Shanghai woods cyclopentadiene international real estate limited company is for this being established company. Reporter learned that, this company's establishment compared to the Shanghai round the world financial center limited company early for 1 year, but its 71.39 million US dollars registered capital and completely tallies the investment reality to the fund, all arrived the account in December 30, 1996. At present, the developer already one after another invested in round the world the financial center has surpassed 1.1 billion Renminbi, contained the land to obtain the expense, after and the change design caused the volume rate increase, also newly supplemented 20 million US dollars lands expenses. Riddle of the financing How many funds constructs 492 meter Shanghai round the world financial center to want? According to 1997 ago design proposal, round the world the financial 中心高 466 meters, already were the then world first altitude, its total investment is about 600 million US dollars. Looked by Shanghai round the world financial center limited company registered capital 213 million US dollars that, exactly is 600 million US dollars 35%, is conforming to the China legal rule property development project 35% innate fund quota. Hereafter, 1997 Asian finance storm influence, Shanghai round the world financial center work suspension. To 2003, the global tall building construction has had the very big change, the highest building recording is unceasingly renovated. On October 17, 2003, the Chinese Taibei 101 buildings are completed, this building take 508 meters (including top layer antenna, 101 buildings true altitude as 480 meters) highly becomes the world first. On February 21, 2003, the Shanghai round the world financial center officially resumes work after the quiet many years. In order to achieve "the world first tall building" the title, throws the capital by each meter 1 billion Japanese Yen prices, increases all of a sudden the design altitude from 466 meters to 492 meters, entire building construction cost also all of a sudden from 75 billion Japanese Yen dramatic rises to 105 billion Japanese Yen. According to the latter construction cost computation, the developer innate fund already could not achieve the China legal rule the request. Reporter understood, after round the world the financial center resumes work, in more than year time throughout is carrying on "the ground hole excavated for building foundation maintenance and excavates", simply has not entered to substantively begins construction, to hit the ground the official construction stage. February, 2003 resumes work the picture is a change original design and the investment plan foreign announcement. Resumes work until now, round the world the financial center limited company and the major stockholder woods overseas joint-stock company besides unceasingly revises the design proposal, the most main energy put in financing. Shanghai round the world financial center limited company General Manager expression bamboo Necker, financing mainly in mainland China solution, moreover mainly has the bank through four great nations. In order to achieve the innate fund the limit, the Shanghai round the world financial center limited company also possibly sells the partial stockholder's rights. Expression the bamboo Necker, take China's bank as the main financing object reason is, the project completes after the rent income mainly is a Renminbi, moreover the project funds also mainly are a Renminbi. Although the foreign capital bank also may manage the Renminbi service, but the scale is extremely limited. But, a Japan analyzes in Chinese bank Shanghai branch's vice- president to reporter that, "9.11" the event, the golden cyclopentadiene not too good transport business condition, the Taiwan first tall building dreary sale and rental condition, adds the Bank of Japan itself difficulty, causes Japanese the bank to shrink back at the sight to round the world the financial center. It is reported, the Chinese international finance limited company and Morgan the gentleman Dan advantage holds the post of the Shanghai round the world financial center limited company financial consultant. In order to solve the financing problem, the Shanghai round the world financial center limited company and Morgan the gentleman Dan advantage already several times visited the Chinese construction bank and so on the state-owned bank. The Chinese construction silver about to extremely has the possibility to become this project the host loan line, with other bank composition bank consortia to project loan offer. A insider indicated that, four great nations have the bank all to have the participation. At present the Chinese construction bank Shanghai branch's corporate business department is being responsible for this building the financing project, its project personnel Zhang Xi tells reporter, this project concrete operation specifically is responsible by the Chinese construction bank Pudong branch. Zhang Xi indicated that, the project side hoped the loan the amount demand is very big, the construction bank most main consideration or the project side innate fund needs to arrive. Zhang Xi said that, "Specifically loans how many, must look which bank investment are most." A insider told reporter, the project side once hoped financed 1.5 billion US dollars, at present bank consortium also in tender process. Riddle of the repayment Even if the financing question solution, round the world the financial center also will face the test which whether the future will recoup the outlay of capital. Some professional analyzes, round the world the financial center investment cost surpasses 1 billion US dollars, approximately for near side golden cyclopentadiene building (total floor space 290,000 square meters) total investment 560 million US dollars 2 times. According to the present 5% year loans interest computation, every year opportunity finance becomes originally amounts to about the Renminbi 400 million Yuan. As soon as opens the gate disbursement by the golden cyclopentadiene building the operation cost to amount to above every day 1 million Yuan to calculate, future round the world the financial center also will be supposed to add on every year at least not to be lower than 400 million about the operation cost. If adds on the management and the man-power and so on other costs, round the world the financial center future every year the cost will achieve above 800 million Renminbi. In 2002, the Chinese gold cyclopentadiene group limited liability company announced that, the golden cyclopentadiene building hiring rate reaches 85%, every year main camp income achieves 650 million Renminbi, in front of the tax the profit 140 million. Even if did not consider the future tall building will increase day by day the steep competition, will suppose the total floor space 377,000 square meters round the world financial centers hiring rate to achieve Jin Mao the level, and rent level similar, this building income mostly only will be able to achieve 845000000. This public figure further analyzes, calculated the Japanese side really can put out 35% innate fund, round the world the financial center in 2007 can as scheduled complete, because started from 1997 the construction time already surpassed for 10 years, but the Shanghai commercial land batch rented the fixed number of years was 50 years, then had to repay at least 70 billion Japanese Yen loans in 40 years, had to return every year the capital reached nearly approximately 150 million Renminbi. So calculated, round the world financial center actually whether also is profitable? According to present round the world finance building design floor space and investment level, even if an investor cent money does not gain, the building rent price also must outdo compared to the golden cyclopentadiene many can basically balance income and expenses. Riddle of the progress According to the country related property development stipulation, two years development project, generally has not had to take back the project to use, the foreign capital also must observe this stipulation. The Shanghai round the world financial center project in 1995 did attained the land parcel right of use, constructed to the present has delayed the such long time, why still continue by this developer to operate? The Shanghai room bureau's concerned personnel indicated, although has this aspect the country to stipulate, "but very few also very is in fact difficult to carry out. Generally does not develop the land can temporarily use as the afforestation, we can with use the unit to consult, the request develops as soon as possible. Round the world financial center this project is known as is the world first is high, the government stratification plane also hoped can build up, therefore is compares the support." Pudong newly developed area government news office public office Mr. Deng indicated that, the government does not express the opinion regarding this. The Shanghai round the world financial center limited company's explanation is, after the project in 2003 resumes work has not stopped, but before has the design and so on the various objective reason, certainly is not the developer intentionally stops. Therefore, the government also compares forgiveness. When in 1995, date we attained this land parcel, just when Pudong most needed when the foreign capital investment, the woods overseas joint-stock company's high quota investment will get up without doubt to one kind of huge demonstration effect. At that time, Pudong developed the massive investments to come from to domestic capital □□each ministries and commissions and various provinces and cities, liked the woods overseas joint-stock company such foreign capital investment to be very few. At the same time, Shanghai also can through this project further prove Pudong develops success. Municipal government then idea was, had to develop Lu Jiazui the finance trade area, needed the sign construction attraction multinational corporation to come here to suppose the spot. Shanghai Deputy Mayor Zhou Yupeng once indicated to the media that, "China joins after WTO, world more vision go to Shanghai, goes to Lu Jiazui the finance trade area, very many multinational corporations all need to suppose the spot in here, round the world the financial center without doubt can add dark ink 重彩 for the Shanghai construction world-class city." As for afterwards did not take back this project land question, a Shanghai government official indicated, the such great investment project, had to find the investor which could substitute very to be also difficult. Design disturbance On April 21, 2004, at the Munich China international real estate commerce forum which conducts in Shanghai, Shanghai round the world financial center limited company Chairman Akio Yoshimura has made the special lecture in view of round the world the financial center this project design. He before acknowledged has the opinion to think in every way round the world the financial center outlook has 疑似 the Japanese saber and the national flag design, now already increased to go sightseeing the bridge. He explained said the outward appearance design is American extremely renowned KPF Corporation's Director designer William manages. William with has studied for 5 years from renowned architectural design master Mr. I. M. Pei, possibly receives the China traditional culture the influence, the design mainly is carries on according to the China traditional culture masculine and feminine elements idea. Is located Pudong Lu Jiazui the Shanghai pearl tower modelling is a solid spheroid, after round the world the financial center completes happen to forms an empty reality with it, coordinates with each other across a great distance artistic esthetic sense. But in the Chinese tradition construction has "月洞门" the modelling, this hollows out the circular also to manifest the Eastern culture "the day and the place" the succinctness. The East China architectural design research institute limited company designs round the world the financial center China auxiliary unit, this project group person in charge Yuan Xingfang tells reporter in the telephone, at present advanced with the outward appearance design all already through the proof, now is carrying on the underground partial projects construction drawing design, the aerial parts project construction drawing also in the design. The present main question is the view 光层 security and the building fire question, estimated at the end of July Ministry of Public Security will convene the proof to be able to carry on the proof. Yuan Xingfang had also disclosed resumes work the after progress: In June, 2003, after the Shanghai round the world financial center resumed work has made up more than 50 piles. And in hereafter has constructed the scene temporary office building. The financial center new plan design plans the bureau examination and approval in July, 2003 through the Shanghai government, on October 30 through expands at the beginning of designs, at present is carrying on the construction drawing design. After Shanghai proposed the city limits high, the multitudinous expert has revealed to round the world the financial center worry. A Tongji University building domain professor indicated to reporter that, at present Shanghai sinks seriously, the golden cyclopentadiene building already had very obviously sinks the concealed worry. Moreover, Lu Jiazui traffic jam already very was serious, again constructed hundred tall buildings to be able to aggravate the transportation burden without doubt. Yuan is popular direction reporter to indicate that, the financial center construction each designing department, the government department all very is round the world discrete, could already open about these aspects proofs. "The owner (refers to developer) not and we said the concrete construction cost budget, they are hoped 2007 year's end can finish, but progress very slow, I also hoped round the world the financial center best can all be smooth, as scheduled be completed." Yuan Xingfang said. (Newspaper Reporter Peng Peng, Liu Zhaoqiong also has the contribution to this article. )

Quote End

*******************************************

Until 7/7/2004,the developer only got 109 million USD on their hands which equal to 51.2% of the registered capital...........:help:
No money no talk...

[Fabb]

I thought that money was just pouring into Shanghai for any project...

[avcellvs]

July 13 th 2004.

http://forum.cameraunion.net/upload/545/54574/54574_1089694406.jpg


Aboveday thanks for the the translator url. Next time I'm about to commit suicide, I'll use it to translate my biography into an exotic language and back to french... I'll surely feel like a new man ! :hilarious

Seriously, what I have learn for sure is that the sign for Mori which means forest in japanese means woods in chinese. I only hope this is not a prognosis for the WFC final height ! :nuts:

[avcellvs]

I found this last year article. No reasons for bright optimism, neither about the WFC, nor the future of supertalls in general.


From the Shanghai Star. 2003-02-20


WERE it not for September 11, the construction of a super skyscraper wouldn't have stimulated so much attention and dispute.

Whether it is necessary to build such giant edifices as the Shanghai World Financial Centre in a big city has become a hot topic these days.

"The Shanghai government didn't discuss with us about the terrorists or ask us to limit the height, so we didn't consider lowering the height because of terrorists," said Akio Yoshimura, senior managing director with Forest Overseas Co Ltd.

Shrugging off the threat of terrorist attacks in the wake of September 11, Mori Building President Minoru Mori said the new design of the Shanghai World Financial Centre will launch a more secure era of mega-structures with many new safeguards.

However many experts are very cautious about the plan. Zheng Shiling, director at the Institute of Architecture & Urban Space at Tongji University, said, "A super high tower which can accommodate 100,000 people is really a challenge to the management of the city's safety, services and traffic."

"We chose Shanghai as the location for the high-rise instead of Japan, because Japan has frequent earthquakes, and laws on aviation and construction mean many more restrictions on high-rises than exist here in Shanghai," Akio Yoshimura said.

For high buildings, being earthquake-proof is a key problem, but for super high towers such as the Shanghai World Financial Centre, wind is an even more important issue, Zheng said.

"Every year, Shanghai suffers at least 10 typhoons which have a large impact on high buildings, so wind tunnel experiments are extremely important," Zheng said. "I don't have the results from the experiments, so I can't talk about them."

To demonstrate to the world how confident it is in the safety of the building, the design company KPF will move its office to the top of the building.

High cost



The high cost of building a super high tower is beyond question. To ensure that it is earthquake proof and fireproof, the whole structure should be made of steel, which makes its price several times higher than that of ordinary high buildings.

The cost of building the Jin Mao Tower reached almost 20,000 yuan (US$2,418) per square metre. Insiders in the field of architecture said building with a height of over 300 metres actually have no practical purpose in terms of saving space or money.

Cai Zhenyu, chief architect with Shanghai Modern Architectural Design Group Ltd, said, "To build the highest tower in the world, to me, is more about demostrating the developer's economic power than saving ground space resources. I can't say whether it is correct or not to build it."

From water, electricity and heat to automatic control systems, from communication to fire-proofing, from lights, automatic supervision and cleaning to safety measures, the daily cost of a super-high building is almost beyond imagination.

The daily cost of the Malaysia's Petronas Twin Towers is US$196,000, while for the Jin Mao Tower, currently the highest building in Shanghai, the figure is 1 million yuan (US$121,000).

Some local media used to report that because of losses made by the Jin Mao Tower, some shareholders have already sold their shares. But Jin Mao denies these sayings.

When there are losses in running such a skyscraper, the owners can be trapped. Because of the huge investment up front, no one is willing to give in. So they have no choice but to invest more money to keep it going.

The head of Shanghai World Financial Centre Investment Co Ltd disagreed with the suggestion of there being insoluble financial problems in building such a super-high building.

"I have full confidence in this project," said Akio Yoshimura when asked about a possible business crisis. "Shanghai's policy of real estate exercises some control of the total volume. And the rocketing property prices in the city shows increasing demand and a rosy future."

Capital black holes

The history of super-high buildings around the world shows that many have suffered hard times, to some extent. Super skyscrapers are known as "capital black holes" by insiders.

Construction of the now-destroyed World Trade Centre in New York started in 1966 and was completed in 1973, after total expenditures of US$1.5 billion. The world's highest building, the Petronas Twin Towers in Kuala Lumpur, Malaysia, consumed US$2.94 billion.

Local critics said the completion of the buildings was the beginning of the financial crisis in Malaysia.

Examples of similar frustration also exist in China.

Foshan's 52-floor International Business Centre once seemed glorious. It was constructed from 1992 to 1996, but left its investor short of money for decoration. It finally went to auction after six years, by which time no one was interested in buying it even at the bargain-basement price of 200 million yuan (US$24.2 million).

Vices of high-rises

Among the current 10 highest buildings in the world, six are located in Asia. The trend to construct super-high towers has evidently migrated from the United States, the birthplace of the skyscraper, to Asia.

"There was once a popular trend to take the higher as the better, but that has now passed. Now the technology of building high towers makes them less challenging. But in real life, building can be too high to be suitable for people to live in. It can definitely be uncomfortable," Cai said.

The supply of oxygen is always a problem for super high towers according to the expert. The central air-conditioner can't provide enough oxygen at the top of the building. "So people with high blood pressure or weak people will feel uncomfortable on the higher floors," Cai said.

In case of a fire and electricity being cut off, it's very hard for people to escape. And Shanghai's firefighters can now only reach 50 metres high, according to a Tongji University professor.

According to the plans of the city government, there will be a total of three super high buildings, over 300 metres tall, making a triangle in the Lujiazui Area. Apart from the Jin Mao Tower and the Shanghai World Financial Tower, there is still one further building to be erected.

Experts worry that this group of super high buildings will produce huge air current which will have a deleterious impact upon nearby environment.

Buildings higher than 24 metres can be called high buildings. There are over 3,000 such high buildings now in the city.

Those over 100 metres high are super-high towers. There are already 186 such high rises in Shanghai.

"Shanghai has placed some restrictions on high buildings. It is not bad to build several super high towers in this international city, but I think in some places, the density of high-rises is not reasonable and should be restrained," Zheng said.

[Razqal]

At this rate, this building will never get built.


<b>China suspends work on projects in Shanghai</b>

2004/7/16
SHANGHAI, AP


Authorities in Shanghai have suspended work on a Universal Studios theme park as China slows down major building projects in an effort to cool off surging economic growth, a city official said Thursday.

The city postponed work after an inspection team sent by China's central government reviewed local development plans, said the official, who spoke on condition of anonymity.

Work on an underwater tunnel that would have connected the city with Chongming Island, in the Yangtze River, and plans to build new subway lines were also postponed, said the official, an executive in the city's Metropolitan Transportation Policy Office.

<b>Construction of the Shanghai World Financial Center, a 101-story skyscraper slated for completion in 2007, and a horse race track planned for Chongming Island were among other projects temporarily shelved, the state-run newspaper 21st Century Business Herald said in an online report Thursday.</b>

It was unclear when work on the theme park and other projects might resume.

Universal executives earlier acknowledged delays in their project and announced they had laid off two dozen people hired to work on the theme park. They blamed administrative problems.

According to the 21st Century Business Herald, land-clearing work for the project began and then was suspended pending final approval from the State Council, China's cabinet. The Universal Studios park, a mix of Hollywood and traditional Chinese themes, was due to open in 2006 in Pudong, a sprawling area of eastern Shanghai.

The park would tap into China's booming domestic tourism industry by luring visitors from wealthy coastal provinces around the city. But it also would compete with a new Disneyland scheduled to open in Hong Kong in 2005. The government has been tightening bank lending and canceling or postponing many projects as it seeks to curb soaring investment that it says is fueling inflation and may cause financial problems.

It also has been reviewing land use plans following protests by farmers and other residents forced off their land by industrial parks, golf courses and other development projects.

Production at many factories in the Shanghai region reportedly has slowed due to shortages of bank financing and shortfalls in electricity and water.

Work on most city construction projects, however, is still under way. The official said that subway lines whose financing was already secured were not affected by the cutbacks.

The city is also building a deep water port and has plans to redevelop vast areas of the metropolis in preparation for hosting the 2010 World Expo.

[Dark357g]

This just keeps getting better and better.

[some_stupid_nut]

Okay, I had my hopes all down. Gave up on this project. Then finally we saw that construction started, so my hopes went back up. You know what?!?! SCREW IT! Screw this project.

[Beyond 1000]

some stupid nut,

I was skeptical even when I saw the photos of the diggers digging away. Look at my first post on this thread.

In other posts previous about SWFC, I continually stated that this project was and is on life support. Right now the oxygen is rapidly depleting.

There can no longer be any cost increase on this project. I don't believe that SWFC will be a financially viable project. With yet another delay, this building is becoming a Money Sucking Pit.

Again, I say please don't hold your breath on this one.

Still, I hope it goes but I doubt it.

[teddybear]

It's sad to see this project is so difficult to run. Mori might end up selling it to other developer and bite the bullet.

[Razqal]

Guess Taipei 101 and democracy will rule!!!! :D :D :D :D

[superchan7]

Funding issues and corruption have nothing to do with democracy
Don't forget Dubai and HK, whose projects are well under way.

[Beyond 1000]

Burj Dubai and US7 are a sure go. Forgetting needles and syringes on top, BD and US7 will be the tallest. BD won't rise out of the ground for quite a while. See Kelvin's posting on pushing in 800 piles into the ground for BD.

US7 is about to start going.

SWFC has now a problem of being seen as an economic loss. It is such an elaborate building and the original budget was laid back probably in the mid 1990s that with height increases and rising costs over the years, the developer will have a difficult time in securing a loan from any bank.

The next possible outcome would be the central gov't completing the project itself for Shanghai's prestige. In otherwords, the FED will take over.

[Dark357g]

The government taking over might not be so bad.

[teddybear]

LOL... somebody try to relate skyscraper with democracy...
Geez!

[Dark357g]

as in the Mori group can get it built and the government can't?

[Razqal]

LOL... somebody try to relate skyscraper with democracy...
Geez!

SWFC being in commieland and Taipei 101 being in the land of the free. :rock:

[avcellvs]

July 19th 2004. Diggers keep digging...

http://forum.cameraunion.net/upload/545/54574/54574_1090218638.jpg

http://forum.cameraunion.net/upload/545/54574/54574_1090218818.jpg

[coth]

LOL... somebody try to relate skyscraper with democracy...
Geez!

SWFC being in commieland and Taipei 101 being in the land of the free. :rock:
check the forum caption man, this is not place for political discussions:hell:

[coth]

July 19th 2004. Diggers keep digging...

http://forum.cameraunion.net/upload/545/54574/54574_1090218638.jpg

http://forum.cameraunion.net/upload/545/54574/54574_1090218818.jpg yeah. big hole for a two months... fast!

[xiahoudun]

Yes, I think we shouldn't be so pessimistic about this, guys. According to the recent, regular picture-update of the SWFC site, construction activity is really taking place. This is better than anything we have seen in the past 6 years or so.

I myself have been to Shanghai 7 times in those 6 years, taking pictures again and again of an empty SWFC-plot. Nothing but grass and fence for years abandoned...

Now let's keep those pics of the digging and construction coming, and enjoy. Something is happening! Cheers :D

[tuy]

As long as they keep working, there is hope. It is good to see change in the pictures. It looks as though they have set some forms at the bottom of the edge of the hole.

When they move all the construction equipment away, then we need to worry.

[Beyond 1000]

xiahoudan and tuy

I love your optimism.

I think I will join your optimism since the diggers are still there digging.

For the record I'm excited about the Freedom Tower, US7, and Burj Dubai. However, I'm excited about SWFC even more. This building is a long time in the making and giving up now on it doesn't make sense, especially seeing groundwork being done.

For myself, the battle of the greatest buildings will be between Burj Dubai and SWFC. I think I like them both the same.

Imagine this next to Jin Mao and walking among the two in the plaza below. What a scene.

[ztopp]

I will put my views on this project a little bit more on the optimistic side than the pesimistic sid, seeing that foundation works seems to be active there. Anyway, this thing is surely going to be built, i mean who would be such a fool to built the foundation first and leave it there to rot, it just doesn't make sense.

[dchen]

There is another set of photos posted on July 17 on a Chinese website. The photos are taken from Jinmao.

http://biz.icxo.com/htmlnews/2004/07/14/264063.htm

[avcellvs]

Thanks for the link dchen. They are digging so fast that very soon we won't be able to see the bottom of the hole from the cameraunion forum pix angle.

[avcellvs]

16 Jul 2004, from http://newpaper.asia1.com.sg/top/story/0,4136,67908,00.html


China's efforts to check its breakneck growth may have claimed some high-profile victims in Shanghai.

Mega projects such as this are a particular target of the central government's austerity drive.

Another large project that could be in jeopardy is the on-again, off-again plan to build what has been billed as Asia's tallest building, the 492m-tall Shanghai World Financial Centre, in the Lujiazui financial district in Pudong.

Since its ground-breaking ceremony in 1997, the project has had a number of setbacks, including being shelved after the Asian financial crisis of 1997.

Construction resumed last summer but is proceeding slowly.

A staff member of the Shanghai World Financial Centre Company - the Japanese-funded outfit that is building the centre - said builders are working on foundation maintenance and insisted the building is scheduled to open in 2007.

[Fabb]

Foundation maintenance ?
I would have prefered the word progress instead of maintenance.