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Ultra high-rise gets the big sell

Liz Heron

Wealthy investors are expected to turn out in force when flats in one of the world's tallest buildings go on sale in Hong Kong this week.

A sales roadshow for the Chicago Spire, an iconic, twisting tower designed by world-famous Spanish architect Santiago Calatrava, opens on Thursday with a cocktail reception at the Mandarin Oriental in Central.

Property agent Savills is targeting Hong Kong as one of five top Asian markets for advance sales of flats in the luxury building, which will soar to 609 metres over Lake Michigan's 'ultra-prime downtown' waterfront.

Tycoons and other well-heeled investors will be able to snap up homes that each have a unique floor plan and view, due to a twisting design that will tower above the Chicago skyline like a giant screw.

A spokeswoman for Savills said: 'Hong Kong has long been one of the leading investor markets globally, and we are anticipating a strong turnout. We received inquiries from Hong Kong even before our marketing initiatives were launched locally.'

Flats start at US$750,000 for a studio and were selling at up to US$40 million for a 10,293 sq ft penthouse duplex with 360-degree views.

The Dublin-based developer is pushing the tower - scheduled for completion in 2011 - as the world's tallest residential building. It is certainly expected to be the tallest building of any sort in the US.

The Chicago Spire will outstrip its neighbour the Sears Tower - the current US title holder - by 157 metres, as well as Asian giants like Taipei 101.

But it will not hold a candle to Burj Dubai, under construction in the United Arab Emirates and expected to rise to more than 800 metres. And even it is set to be exceeded by a new generation of super-tall buildings in the Arabian Gulf, including the proposed 1,022-metre Murjan Tower in nearby Bahrain and the Mile High Tower in Saudi Arabia.

More than 800 people attended the launch of the building's Asian roadshow in Singapore last month, which was followed by a stop in Kuala Lumpur last week. The exhibition continues until Sunday, then the roadshow visits Shanghai, Beijing, Europe and South Africa.

Room at the top

The Chicago Spire will be the tallest building in the US, soaring, in metres, 609

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