Singapore's tallest skyscraper to be built by Alibaba and local partners

Alibaba, the famous Chinese multinational company which specializes in e-commerce and technology, will team up with Singapore real estate company Perennial Holdings to construct a 63-storey mixed-use development at 8 Shenton Way.

When completed, the development will stand at 305 metres Singapore Height Datum (SHD) and become the tallest building in Singapore. The approved building height of 305 metres for the development is the highest that URA has granted for developments in Singapore.

Currently occupying the land site of 8 Shenton Way is the 52-storey building of AXA Tower. Constructed in 1986 for the Ministry of Finance as the Treasury Building, AXA Tower stands at 234.7 metres and is Singapore’s 16th-tallest skyscraper. AXA Tower is one of the most prominent buildings in the Central Business District (CBD) and holds the distinct of being the tallest cylindrical building in the world.

Alibaba Group owns a 50 per cent stake in AXA Tower, after having purchased the stake from a consortium of investors led by Perennial Holdings Private Limited on 6 May 2020. The value of the 50% share of the building resulted in the property being valued at S$1.68 billion.

 

 

Source: https://www.channelnewsasia.com/business/singapore-tallest-building-alibaba-perennial-axa-tower-guoco-2860921

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