Aykon London One Tower, a new residential tower designed by Kohn Pedersen Fox Associates, is set to rise 50-stories above London and offer 450 total residential units.
The project, which marks the first international development outside of the Middle East for Damac Properties, has a total development value of $844 million. $264 million of that total has been put towards a contract with the Australia-based company Lendlease to build the project.
London One will be located in the Nine Elms district, near the former Battersea Power Station building, and will overlook the south bank of the River Thames. Of the 450 units comprised within the building, 360 will be luxury units with a starting price of $1.2 million. The other 90 will be set aside as affordable units. Additionally, four stories have been earmarked as office space.
Despite the fact that a report from London’s property market adviser London Central Portfolio pointed to the number of new apartments being sold in London as declining, Damac believes there will be no issues with filling the tower, according to The National.
The first phase of Aykon London One accounted for about 40 percent of the total rooms available and has already sold out. The company believes it will see the same result for the next phase of units, which is expected to launch imminently.
Related Stories
Retail Centers | Aug 31, 2015
Urban developers add supermarkets to the mixes
Several high-rise projects include street-level Whole Foods Markets.
Multifamily Housing | Aug 27, 2015
Architects propose shipping container tower to replace slums
The firm says approximately 2,500 containers would be needed to complete the design, which aims to accommodate as many as 5,000 people.
Multifamily Housing | Aug 25, 2015
London multifamily building to have transparent swimming pool designed by Arup
Residents and visitors will be able to swim 10 stories above ground, and see views of London.
High-rise Construction | Aug 14, 2015
Pei Cobb Freed designs ‘glass sail’ tower for Shenzhen
The 29-story tower won’t be the tallest in the city, but it will set itself apart from surrounding, glimmering towers with gently curved façades, resembling sails blown by the wind.
High-rise Construction | Aug 12, 2015
Construction begins for Kengo Kuma-designed twisted Rolex tower in Dallas
Japanese architect Kengo Kuma designs tower with gradually rotating floor plates for Rolex's new office in Dallas.
High-rise Construction | Aug 11, 2015
Calatrava's Turning Torso wins CTBUH's 10 Year Award
The 623-foot, 57-story tower was the world's first twisting skyscraper. Completed in 2005, the building, designed by Santiago Calatrava, rotates 90 degrees along its height.
High-rise Construction | Aug 7, 2015
Tribute tower to cricket world champs will be Sri Lanka’s tallest
The 1996 Iconic Tower will be a tribute to the country’s cricket team, which won the World Cup in 1996.
Vertical Transportation | Aug 5, 2015
ThyssenKrupp’s maglev elevator test tower almost ready
The 761-foot concrete tower will enable the manufacturer to test its maglev elevator prototypes. The new elevators will be moved by magnets, allowing for vertical and horizontal movement of multiple cars in one shaft.
High-rise Construction | Aug 4, 2015
Construction of Vietnam’s tallest building commences in Ho Chi Minh City
A 1,509-foot skyscraper broke ground on the banks of the Saigon River in Ho Chi Minh City, Vietnam.
High-rise Construction | Jul 29, 2015
Jerusalem to get a high-rise pyramid by Daniel Libeskind
Are pyramids making a comeback? The city of Paris recently approved a triangle-shaped building that stirred controversy from residents. Now, the city of Jerusalem gave Libeskind's pyramid tower the go-ahead.