Chinese Internet giant Alibaba and a consortium led by Singapore-based real estate company Perennial Holdings have obtained approval for plans to build a 63-storey mixed-used development at Shenton Way in the Central Business District.
With a maximum approved height of 305m as seen in Urban Redevelopment Authority (URA) documents, the building could overtake the 284m-tall Guoco Tower as the tallest building in Singapore.
A URA spokesperson said on Friday (Aug 5) that the approved building height of 305m at 8 Shenton Way is the highest granted by the authority for developments in Singapore.
“The allowable building heights are subject to technical requirements as well as evaluation based on respective site context,” she said. "Developments would have to be built in accordance to the approved plans and guidelines."
The new development will be built on the site currently occupied by a 50-storey building, formerly known as AXA Tower, at 8 Shenton Way in Tanjong Pagar.
The site first hosted the Treasury Building in 1986, which was previously the headquarters of state investment firm Temasek Holdings.
When completed, the Alibaba-backed project could join Guoco Tower as the only buildings in Singapore to exceed 280m in height.