User login

Credit Crunch Kills Australian Project

(October 2008) posted on Mon Oct 13, 2008 EDT


The global credit crisis has nixed the $341.7 million Empire Square luxury tower in Brisbane, Australia, according to the Asia Pulse. Sydney-based Metacap Developments said it has advised investors it will not proceed with the project because of the turmoil in the financial markets. Plans for the 65-story building included a 306-room, five-star hotel; 104 residential apartments; and 23 stories of office space.


Terms:

Did you enjoy this article? Click here to subscribe to the magazine.

Share/Save