World Economy

Flats Cost $2.2m in World’s Tallest Residential Building

Flats Cost $2.2m in World’s Tallest Residential BuildingFlats Cost $2.2m in World’s Tallest Residential Building

Apartments in the world’s tallest residential building currently under construction in the Indian city of Mumbai have been put on sale in London as the developers target wealthy Mayfair residents and super-rich Indians living in the UK.

Italian fashion designer Giorgio Armani has been hired to supervise the interior designing of the skyscraper, NewsNow reported Sunday.

Armani’s known for his menswear collection, will design the apartments in the 1,450 feet (442 meters) high World One Tower. He will combine Italian flair with Indian heritage and textiles in designing interiors of the apartments.

The skyscraper, to be completed in 2016, is built by the Lodha group which is targeting super-rich Indians living in the UK. It will include 300 high-end apartments and penthouses.

Flats are being sold by real estate agency Wetherall Estates and are priced at £1.4m ($2.2m) each.

Three and four-bedroom apartments are featured with comfort cooling, state-of-the-art home entertainment and security and electronic windows, curtains and blinds. The upper floor apartments will have views over Mumbai city and the Arabian Sea.

The 117-storey skyscraper will also have a large indoor leisure complex which will feature a cricket pitch with a pavillion, a club house, swimming pools, gymnasium and spa.

Wealthy Indians are accountable for one in four sales in Mayfair. Indian families and developers have spent around £1b on homes and business projects in Mayfair and the West End in the past 18 months alone, the Daily Mail reports.

“The British and international-based Indian business community are extremely successful and have been major investors in prime London real estate over the last two years,” said Peter Wetherell, chief executive of Wetherell.

“Now Wetherell aims to tap into this market and generate some reverse marketing and sales, in order to channel some of this wealth back to India and into the luxurious residences in the World One Tower.”