Skyscrapers evolved as a way of getting around high land costs and crowded urban footprints — by building upward rather than out, they made developments on prime real estate more cost-effective. Yet, the construction techniques required to make such buildings possible don’t come cheap, and the higher you go, the more the materials cost. Throw in high-end finishes and an abundance of luxury amenities, and the costs can quickly escalate — sometimes to astronomical levels. When you start talking about billions rather than millions of dollars, the figures become estimates. Nevertheless, here are five of the most expensive skyscrapers (or in some cases, skyscraper complexes) ever built.
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5. Lotte World Tower – Seoul, South Korea
Estimated total cost of construction: $2.5 billion USD
Lotte World Tower soars 1,821 feet above Seoul, South Korea’s modern capital. This 123-story multipurpose skyscraper encompasses office, retail, tourism, and residential spaces. Its design was ambitious — and expensive — with complex structural challenges that required engineers to ensure that the finished skyscraper would withstand a magnitude 9.0 earthquake or hurricane-force winds.
The tapered design and use of high-strength concrete and steel helped to achieve these needs yet still facilitate the open floor plans tenants prefer. In addition, in the event of an emergency, the building’s efficient high-speed elevators are able to move everyone to safe zones within 15 minutes and evacuate 15,000 people in around an hour. For tourists, Lotte World Tower is home to one of the planet’s highest observation decks, the Seoul Sky observatory, which is situated 1,640 feet above ground.
4. One World Trade Center – New York, New York
Estimated total cost of construction: $3.8 billion
After the devastating 9/11 attacks in 2001, officials held a competition to design a replacement for New York’s World Trade Center. The design for One World Trade Center was the work of David Childs of architecture firm Skidmore, Owings and Merrill. Safety — and particularly the lessons that had been learned from the tragic events of its predecessor’s demise — informed construction on this new landmark, but design alterations to suit evolving needs and a strengthened city building code all came at a cost.
By the time the skyscraper was finally completed, after a decade, it cost $3.8 billion. It was over budget by about $1 billion — nearly equivalent to the total cost of the original Twin Towers in 1975. Today, the tower stands a symbolic 1,776 feet tall (to represent the year the U.S. declared independence) and features One World Observatory, which offers epic views over New York City and New Jersey from 102 floors up.
3. The Cosmopolitan – Las Vegas, Nevada
Estimated total cost of construction: $3.9 billion
In a place as flashy as Las Vegas, it should come as no surprise that hotel corporations have built some exceptionally expensive properties. Currently, one of the most costly skyscrapers ever built is the Cosmopolitan of Las Vegas, a twin skyscraper complex that cost around $3.9 billion to complete — more than the Bellagio and the MGM Grand put together.
The Cosmopolitan’s two towers, Chelsea and Boulevard, stand more than 600 feet tall. Spanning an 8.7-acre site on the Strip, the property contains 2,995 rooms, considerably fewer than some of its neighbors. Originally, builders intended to incorporate condos, too, but this plan fell through, which helps to explain why many of the rooms are so large. In addition, shared spaces such as the glamorous Chandelier Bar, known for its miles of crystal-beaded lights, provide a clue as to where all that money went.
2. Marina Bay Sands Hotel – Singapore
Estimated total cost of construction: $5 billion
Singapore’s iconic Marina Bay Sands Hotel came at a price tag of more than $5 billion, including land costs. Together, the three towers, each 56 stories high, comprise more than 1,800 rooms and suites. There are two theaters with a total capacity of over 4,000 seats, along with an outdoor plaza that can accommodate 10,000 people, a vast casino, the ArtScience Museum, and a plethora of shops and restaurants.
The hotel’s SkyPark contains the world’s largest rooftop infinity pool and offers guests a breathtaking 360-degree view of the city. Constructing such a project was a massive undertaking, so it’s not hard to see why this project was so expensive. But many would argue it was money well spent: Since the hotel was completed in 2010, it has won more than 940 awards and continues to be viewed as one of the world’s best properties.
1. Abraj Al-Sa’at (The Clock Towers) – Mecca, Saudi Arabia
Estimated total cost of construction: $15 billion
When this 10-year project was completed in 2012, it was estimated that the cost of the skyscraper complex totalled somewhere in the region of $15 billion — far higher than any other complex that had been built before or since. The property is owned by the government of Saudi Arabia, but it boasts high-end tenants such as Fairmont, Movenpick, Swissôtel, and Raffles. You’ll find them in Mecca, the holiest city for Muslims, where they accommodate some of the many pilgrims who visit.
The redeveloped site once housed the Aiyad Fortress, an Ottoman citadel that was demolished to make way for the hotels. The tallest skyscraper of Abraj Al-Sa’at stands 1,972 feet high, making it the sixth-tallest freestanding structure in the world. The clock faces adorning each facade are the largest on the planet at 141 feet in diameter.
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