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Firm to get skyscraper project off the ground

(China Daily)

09:57, September 06, 2011

An artist's impression of Zhongguo Zun in the CBD. The building, which will house offices of CITIC Group, will be the tallest in Beijing when it is finished, standing 510 meters. (China Daily Photo)

BEIJING - Developers working on a new skyscraper, which once built will be the capital's tallest building, say they will break ground on the project on Sept 19.

CITIC Group, which won the rights to the land in the Central Business District with a bid of 3.6 billion yuan ($563 million) last December, plans to build a 510-meter-high office tower with 104 floors above ground and four basement levels.

"The final design hasn't been decided yet, as the group is waiting for the municipal government's approval, but the building will be higher than 500 meters," an insider at CITIC Real Estate who refused to be named said on Monday.

The new skyscraper is called Zhongguo Zun, which means China Goblet, as the inspiration for the design came from an ancient ritual vessel. Construction will be completed in five to seven years, the insider said.

The land where the building will stand is in the north of the CBD, which houses many international companies. The capital's tallest building now is Tower 3 of China World Trade Center, which is 330 meters tall and is also in the CBD.

"It is going to become a new landmark for the city," said an official in charge of the CBD who also spoke on condition of anonymity.

The skyscraper is expected to serve as an office building for CITIC Group. "The company will occupy the whole building, and even then the space will not be enough," added the CBD official. "Also, the company can't rent any of that office space for 10 years, as stipulated in the contract it signed with the municipal government."

By Zheng Jinran, China Daily

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