Latest news with #skyscraper
Yahoo
5 days ago
- Business
- Yahoo
Exclusive-Work on $1 billion Trump Tower in Vietnam could start next year, source says
By Francesco Guarascio HANOI (Reuters) -Investment in a planned Trump Tower in Vietnam is estimated at around $1 billion and construction of the at least 60-storey skyscraper could start next year, a person familiar with the discussions told Reuters. The building, for which plans are still preliminary, would be the second major project the Trump Organization, U.S. President Donald Trump's family business, is reviewing in Vietnam. The Southeast Asian country is currently in trade talks with Washington to avoid crippling 46% tariffs. Eric Trump, senior vice president of the Trump Organization, visited Vietnam last week to survey the site for the tower in the country's southern business hub of Ho Chi Minh City and to attend the groundbreaking for a golf resort in northern Vietnam. The approval for the golf club, according to Prime Minister Pham Minh Chinh, had been expedited by the authorities. The Trump Organization would operate the golf club, while its Vietnamese partner, real estate firm Kinhbac City, would focus on developing it with an estimated investment of $1.5 billion, the source said. The division of work had not been previously reported. A similar arrangement is likely to be agreed for the Trump Tower, with the investment expected to come mostly from local partners, the source said, declining to be named because the information is not public. The Trump Organization did not reply to a request for comment. Kinhbac City, a leading industrial real estate developer in Vietnam, did not respond to a request for comment. When it announced its collaboration with the Trump Organization in October, the company said the venture "will focus on developing 5-star hotels, championship-style golf courses, and luxurious residential estates and unparalleled amenities in Vietnam." During his visit last week, Eric Trump toured the site where the skyscraper would be built and met local officials, the source said. That was in line with the schedule of his engagements with the city's authorities, according to a Vietnamese document seen by Reuters. The tower would be built in Thu Thiem, an area under development in central Ho Chi Minh City where a new financial centre is planned to be built, the document from the city's authorities showed. 'ENVY OF ALL OF ASIA' At the groundbreaking for the golf resort, Eric Trump said the projects to be developed in Vietnam would be "the envy of all of Asia and of the entire world", adding he would visit the country frequently to further the company's plans. Approvals for the tower project are still being sought and no final decision had been made about when construction will start, the source said, adding that the aim was to have the groundbreaking next year. The investment could be larger than $1 billion if permits are obtained for a building with more than 60 floors, the person said. The Trump Organization operates several towers in the United States and across the world, but does not own all of them. The flagship Trump Tower in the Manhattan neighbourhood of New York City was built in the 1980s. Others have since been built in Chicago, Florida and abroad, including in Turkey and the Philippines. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Guardian
26-05-2025
- Business
- The Guardian
Adelaide's first skyscraper criticised as ‘profound mistake' and ‘hugely questionable' by opponents
Adelaide's first skyscraper will be a 'phallic' construction overshadowing the birthplace of women's suffrage, critics say. The Walker Corporation has begun work on a 38-storey commercial building next to Parliament House on North Terrace, which is known as the city's cultural boulevard. The planned building will be 160m high – the threshold for a skyscraper is 150m. Adelaide's tallest building is 138m, although there are also plans under way for a 183m building. Walker Tower 2 will span almost 50,000 sq m, accommodate up to 5,000 office workers and 100 retail workers, and will include a rooftop bar and restaurant. The Walker Corporation has already built a tower in the Festival Plaza precinct. Sign up for Guardian Australia's breaking news email But Adelaide resident Robert Farnan, who has convened a working party composed of planners, architects, lawyers, residents' groups, the Greens and others to raise awareness of the issues and lobby state and federal governments to intervene, said it was a 'hugely questionable' development and a 'state-supported skyscraper on public land'. 'The word is spreading about the significance of the site [as] the place where full democracy first occurred,' he said. In 1894, the parliament passed world-first laws allowing women to both vote and stand for election. Aboriginal women were also enfranchised – although they faced multiple barriers. Both old and new parliament houses are on the national heritage list because of 'a series of radical reforms to political laws and processes that Australians now take for granted'. 'It was here that the democratic ideals of all men and women having the right to vote, secret ballots, and one person/one vote were first introduced,' its listing reads. Stewart Sweeney, a retired academic and public policy advocate who worked with SA's famously reformist premier Don Dunstan, described the proposal as a 'phallic logo-ridden tower of exclusion'. 'It's the wrong building in the wrong place,' he said. 'It's next to the parliament, but that's not just any old parliament, it's a special parliament in a global sense. 'It's the parliament where the breakthrough on women's suffrage, for the right to vote and to stand for parliament was first legislated, and it's hard to think of a place where erecting a tower whose main claim to fame is the highest tower in Adelaide is the right place to do that.' Loine Sweeney – daughter of Stewart and former executive officer of the Women's Suffrage Centenary – said the tower would be a 'profound mistake' that would not just overshadow a building but a legacy. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion Adelaide city council is opposed to the development because of its impact on Parliament House and because the site is part of the Adelaide Park Lands. The Adelaide Park Lands Association called it a 'monster', a private high-rise development that undermined what the Park Lands represent – being 'free, green, and public'. Historian Samuel Doering said on social media that the space was 'hallowed' and agreed it should be used for 'suffrage storytelling'. The outgoing History Trust of SA chief executive officer, Greg Mackie, responded to Doering, saying it was a 'shameful grab of priceless public Adelaide park land for private profit that destroys the deserved sense of place of SA's parliament and our proud democracy'. Work has already started on the site, although the current design does not yet have formal approval from the State Commission Assessment Panel (SCAP). The planning minister, Nick Champion, said it would be up to the SCAP to assess the development application. 'It's important the SCAP remains an independent authority to assess and determine major development proposals in South Australia and not be influenced by politics,' he said. Announcing its design, the state government said it would be set back a minimum of 9m from Parliament House to 'preserve its visual integrity, heritage value and to preserve view lines to Parliament House'. The premier, Peter Malinauskas, has said the development showed the 'state's economy is growing, and our city is growing up', and would bring in $1bn a year in economic activity. 'This will be an iconic building that will define Adelaide's skyline,' he said when the building designs were revealed. Guardian Australia has approached Walker Corporation for comment.
BBC News
26-05-2025
- Business
- BBC News
Plans for Manchester's tallest tower hit by admin setback
Plans to build what would become Manchester's tallest tower have suffered a setback after an administrative error left the council needing to re-assess planning permission it granted last 807 ft (246m) high Nobu Manchester would stand higher than the nearby Deansgate Square South Tower and under-construction "Plot D" block.A similar error has also affected plans for another skyscraper on Whitworth Street West, near Deansgate Locks, which was also approved at the same 10 April applications will be heard again on Thursday, the Local Democracy Reporting Service said, and both are again recommended for planning approval. Nobu Manchester would become the UK's tallest building out of London."Viadux has the potential to become a symbol of this city's aspirations and confidence in itself," said developer Salboy's Simon Ismail, after obtaining planning permission for the 76-storey tower, behind the Manchester Central convention centre, would feature 452 flats and a 160-bedroom a council report said an administrative error meant that a key body - the Music Venue Trust (MVT) - was not properly consulted and submitted an "objection which presented new information" after which is a charity, said the building could affect Rebellion, a nearby gig venue. The council report said Rebellion is "a long-established Mancunian cultural space" hosting live music since 2013 and more than 220 annual events is an important hub of grassroots music and cultural activity, the report report also said Rebellion's operators "must be actively included, and venue operations appropriately surveyed" as the plan "would have an adverse impact on the cultural organisation's ongoing viability".Developer Glenbrook also has to resubmit an application for the £118m 44-storey skyscraper on Whitworth Street report said MVT should have been consulted, which meant "key factors such as worst-case noise scenarios, audience attendance numbers and venue operation timings, which include live music and DJ events throughout the week" had not been Utilities also objected to the application "as it appears to be located above their combined sewer, which they will not permit building over" the document continued, but said Glenbrook was working with UU to resolve that objection. Listen to the best of BBC Radio Manchester on Sounds and follow BBC Manchester on Facebook, X, and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.
South China Morning Post
19-05-2025
- Business
- South China Morning Post
Trump Tower Ho Chi Minh City? US President's son visits Vietnam amid US$1.5 billion deal
The Trump Organization and a local partner are exploring plans to build a skyscraper in Vietnam's business hub of Ho Chi Minh City, with Eric Trump expected to visit this week, a Vietnamese government document seen by Reuters shows. The visit by the son of US President Donald Trump comes just after Vietnam gave his family business the green light for a separate US$1.5-billion golf project as the export-reliant southeast Asian nation holds talks with Washington to avoid punitive trade tariffs. Ho Chi Minh City officials were invited to 'attend a dinner party with Eric Trump, senior vice-president of the Trump Organization' set for Thursday evening at a central hotel in the city, according to the internal document. The May 15 document, signed by the acting head of the foreign ministry department in the city, said representatives of the Trump Organization would visit an upscale central area. There they would 'survey the proposed location of the Trump Tower building and hope to have a working session with the city's leaders about this project', it added, inviting local authorities to cooperate with the business delegation. The Trump Organization is run by Trump's children after he handed off its leadership after he won his first term as US president.
Yahoo
19-05-2025
- Business
- Yahoo
Exclusive-Trump Organization explores plan for tower in Ho Chi Minh City, Vietnam document shows
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) -The Trump Organization and a local partner are exploring plans to build a skyscraper in Vietnam's business hub of Ho Chi Minh City with Eric Trump expected to visit this week, a Vietnamese government document seen by Reuters shows. The visit by the son of U.S. President Donald Trump comes just after Vietnam gave the Trump Organization the green light for a separate $1.5-billion golf project as the export-reliant southeast Asian nation is in talks with Washington to avoid punitive trade tariffs. Ho Chi Minh City officials are invited to "attend a dinner party with Eric Trump, senior vice president of the Trump Organization" set for Thursday evening at a central hotel in the city, according to the internal document. The May 15 document, signed by the acting head of the foreign ministry department in the city, said representatives of the Trump family business would visit an upscale central area. There they would "survey the proposed location of the Trump Tower building and hope to have a working session with the city's leaders about this project", it added, inviting local authorities to cooperate with the business delegation. The Trump Organization is run by Trump's children after he handed off its leadership after he won his first term as U.S. president. Another meeting between Ho Chi Minh City authorities and a representative of the venture between the Trump Organization and its Vietnamese partner, real estate developer Kinhbac City, is set for later on Monday, the document showed. Both meetings are confirmed in a public schedule published on Monday on the Ho Chi Minh City website, which does not, however, elaborate on their content or name the participants. Vietnam's foreign ministry, the Trump Organization and Kinhbac City did not immediately reply to requests for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
