- AIG Tower
Infobox skyscraper
building_name = AIG Tower 美國國際集團大廈
caption = Full view of AIG Tower, fromEdinburgh Place
location = 1 Connaught Road Central, Central,Hong Kong
status = Completed
groundbreaking = 2002
opening = 2005
use = Office
roof = 185 m (607 ft)
floor_count = 40
floor_area= Convert|450000|sqft|m2|0
architect =Skidmore, Owings and Merrill
owner =American International Group ,CapitaLand ,Lai Sun Development The AIG Tower (Chinese: 美國國際集團大廈) inHong Kong is a 185 m (607 ft.), 40storey skyscraper that was completed in 2005.Cite web|title=AIG Tower|publisher=Emporis.com|url=http://www.emporis.com/en/wm/bu/?id=aigtower-hongkong-china|accessdate=2007-08-17] It is located in Central, not far from the landmark Bank of China Tower.The
Furama Kempinski Hotel , famous for its revolving restaurant, formerly stood on the same lot that the AIG Tower rises from, but in December 2001, the 33-story hotel was demolished in order to make way for the AIG Tower.Cite web|publisher=Emporis.com|title=Furama Kempinski Hotel|url=http://www.emporis.com/en/wm/bu/?id=furamakempinskihotel-hongkong-china|accessdate=2007-08-17]The building was jointly developed by Lai Sun Development, CapitaLand, and insurance giant
American International Group (AIG), which is also a major tenant of the building. The architectural firmSkidmore, Owings and Merrill designed the building to look like theChinese junk .The building has approximately 41,777 m² (450,000 ft²) of office accommodation.Cite web|title=AIG Tower|url=http://skyscraperpage.com/cities/?buildingID=7554|publisher=SkyscraperPage.com|accessdate=2007-09-18]
Plot history
The 999-year leasehold site has an area of Convert|24427|sqft|m2|0.
Lai Sun Development ("LSD"), founded by textiles magnateLim Por-yen , paid HK$7 billion for Furama Hotel Enterprises in June 1997. Lai Sun, which already owned the Ritz-Carlton Hotel next door, acquired a 45.42 per cent stake for $3.13 billion, and made a general offer at $33.50 for each remaining shares at a total cost of $6.893 billion. [ Veronica Luk, [http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=50621&sid=&con_type=1&d_str=19970621&sear_year=1997 Furama stock skyrockets after Lai Sun stake purchase] , The Standard, June 21, 1997]LSD intended to combine the two plots into a prime office block. Then the
Asian financial crisis struck, plunging the entire group into distress and forced asset sales. [ Dennis Eng, [http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=25257&sid=&con_type=1&d_str=20021118&sear_year=2002 A little less debt for ailing Lai Sun] ,The Standard , November 18, 2002] In March 2000, LSD announced that a 65% stake in the Furama Hotel would be sold to a 50:50 joint venture between Pidemco and AIG for HK$1.88 billion [http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=3342&sid=&con_type=1&d_str=20000301&sear_year=2000 AIG joins Pidemco in $1.88b bid for 65pc of waterfront site] , The Standard, March 01, 2000] . Pidemco, the largest owner of commercial properties inSingapore , is part of Singapore Technologies, controlled byTemasek Holdings . [Clare Cheung, [http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=3842&sid=&con_type=1&d_str=20000311&sear_year=2000 Lai Sun in move to bail out unit] , The Standard, March 11, 2000] As part of the deal, Lai Sun would continue to operate the hotel until its redevelopment, at an annual rental of HK$145 million. The Furama closed in November, and was demolished in December 2001.The site has an approved buildable gross floor area of Convert|366405|sqft|m2|0 Bayshore Development Group, a joint venture between LSD,
CapitaLand , and AIG, was formed to develop the 39-storey commercial office block with a gross floor area of 450,000 square foot (41,800 m²). AIG and CapitaLand each owned 35 per cent, and Lai Sun owns 30 per cent.Reuters story, [http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=19178&sid=&con_type=1&d_str=20020730&sear_year=2002 Lai Sun joins $4b office venture at Furama site] , The Standard, July 30, 2002]The HK$4 billion capital investment includes land premium, construction costs and interest payments. About HK$1.4 billion of financing was arranged with the
Bank of China .Gallery
References
ee also
*
List of tallest buildings in Hong Kong External links
* [http://www.aigtower.com/ Tower's website]
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