Construction On The World's Most Expensive Building Is Officially Underway

yongsan expensive building koreaAn artist’s rendering of the tower

Photo: via Chosun Ilbo

Construction started Tuesday on Yongsan Landmark Tower,a 100-story tower in Seoul, South Korea, which is expected to be the most expensive building ever built, per square foot.The total price tag on the project, including land, is around $3.43 billion, according to the Chosun Ilbo (via the Rich Times).

Each square foot will cost around $293, compared to $279 per square foot for the Burj Khalifa, which is the tallest building in the world.

The tower was designed by world-renowned architect Renzo Piano, and Samsung Corp. is serving as the main contractor, according to Chosun Ilbo.

Once completed, it will house the offices of global businesses as well as what are rumoured to be the world’s fastest elevators.

Click here to see the 10 fastest elevators in the world >

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