China is currently home to 87% of the world’s skyscrapers under construction, and plans on adding some 800 new towers in the next decade; that’s a rate of one construction completion every five days. While some experts have linked excessive skyscraper construction to future economic woes, China has decided that bigger is always better, dammit.
WantChinaTimes noted that many of the nation’s planned skyscrapers (buildings over 152m tall) are planned outside of top-tier cities, and reports:
80% of the buildings are located in less economically vibrant areas.
Land prices are high in urban areas, pushing property developers to drop the giants outside first tier cities, according to a deputy director surnamed Gu of China Real Estate Housing Research Association. In addition, the unchecked spending of local governments has made it possible to fund the so-called “city landmarks,” according to the report.
A building as a landmark not only attracts attention but business to the local economy. Having a landmark building has become an important indicator for local government performance, Gu said. The increasing height of skyscrapers shows the government’s ambition to raise its visibility, though the cost is only now becoming visible with the release of enormous local government debt figures.