Lodha Developers Ltd. of Mumbai has announced that it plans to build the world’s tallest residential tower using proceeds from its planned public offering.
Central Mumbai has enjoyed a huge resurgence as former textile mills have been torn down to make room for modern residential and commercial construction. The financial, entertainment and manufacturing capital of India, Mumbai also contributes almost 40 percent of all personal income taxes collected in India, although it accounts for only 2 percent of the population.
Pei, Cobb, Freed & Partners, the New York firm led by the architect who designed the famous pyramid at the Louvre in Paris and the iconic Bank of China tower in Hong Kong, is expected to win the design contract according to a report in Business Week.
