4303
Construction of TM Tower Resumes
Economy, Business And Markets

Construction of TM Tower Resumes

A new report suggests the construction of one of Tehran’s largest residential structures called the Third Millennium Tower has resumed after almost four years of inactivity.
Skyscrapercity.com , a forum for architects and construction companies, reports that work has restarted on the huge 15,200 square meters site, located in the northwest of the capital. The project came to a halt when sanctions intensified against Iran’s economy back in 2011, sharply raising price of construction materials.
Originally designed in collaboration with Belgian architects, the tower was constructed to resist earthquakes and other large scale destructive natural phenomena.  When completed, the it will host hundreds of apartments up to the size of 200 square meters.  
Some property experts say the per-meter price could be about 120 million rials ($3,700 based on market rate) at today’s value.
The TM tower, as it’s also known, has been an eyesore in recent years as residents of Tehran commented on its lack of progress and huge presence in the west of the city.

Short URL : http://goo.gl/dH01VB

You can also read ...

Turkey Determined to Protect Companies From US Sanctions
Turkey will take every initiative to protect its companies...
Westminster Group Hopeful Over Iran Airport Security Deal
UK-based company Westminster Group PLC is still hopeful it can...
Tesla’s Gigafactory in Nevada, the US
Tesla Inc has flown six planes full of robots and equipment...
Fiat Chrysler Recalls 4.8m Vehicles
Fiat Chrysler is warning the owners of approximately 4.8...
Further Hike in Unified USD Rate
The Central Bank of Iran has increased the US dollar's...
Iran’s 65-and-over population is projected to rise to make up 11% of the total population in 2036-37.
Iran’s population will get increasingly older over the next...
Head of Sistan-Baluchestan’s Ports and Maritime Organization Behrouz Aghaei (L) shakes hands with Managing Director of Life Trade Promotion Company Mohammad Arazesh after signing the agreement on May 23.
Life Trade Promotion Company signed an agreement with Sistan-...
Non-Oil Trade With Austria Surpasses 19%
Iran traded $364.34 million worth of non-oil goods with...

Trending

Googleplus