The Shanghai Tower, located in Lujiazui financial center, is China's tallest building with a total height of 632 meters (2,073 feet). (Photo: CNS)
(ECNS) -- Many Asian countries are enthusiastic about building skyscrapers as the emblem of a vibrant finance sector. This is particularly true for China, which is estimated to become the world's "tallest" country by 2018, according to a recent report.
The report, released on September 16 by CBRE Group, Inc., the world's biggest commercial real estate services and investment firm, shows that 154 super high-rises will make China the country with the tallest skyline in the world by the end of 2018.
It states that by June 2014, over half of the world's skyscrapers were situated in Asia, and of 126 super high-rises under construction, 79 were in China.
In China, 47 percent of tall office buildings under construction will be in second-tier cities, as these are eager to show off their burgeoning financial markets.
However, CBRE warns that at a still early stage of development, these cities lack the luster to lure the world's top finance groups, although demand is set to rise as their economies expand.
Apart from the general economy, CBRE Asia Pacific Research Department Director Xu Yucheng said the occupancy rate also depends on the brand and reputation of developers.
Du Risheng, Executive Director of CBRE China Assets Service Department, said managing these super tall office buildings requires technology and trained talent, a challenge China and other Asian countries face.
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