An Indian property group yesterday unveiled plans to build the world's tallest purely residential tower in Mumbai, the country's booming financial capital. Lodha Developers said the tower would be 117 storeys high and would be designed by New York-based Pei Cobb Freed and Partners, the architects of the Louvre Pyramid in Paris and the Bank of China building in Hong Kong. "At 1,450 feet (442 m), the tower will be the tallest of its kind," Abhisheck Lodha, managing director of Lodha Developers, told reporters as he presented a scale model of the complex.
Called "World One", it will be located in central Mumbai on the plot of a defunct textile mill and should be completed by 2014. The development will contain more than 300 apartments and include large green spaces, cafes and an open-air observatory. Mumbai's sky-high property prices continued to rise during the global economic downturn, even though the city is plagued by water shortages and poor infrastructure. The city's central district was a textile mill hub until a few decades ago, but a large labour strike in the 1980s and the entry of new power loom complexes led to the old mills' demise. In their place have risen shopping malls, luxury apartments, hotels and high-tech corporate offices.
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