Developers Have High Hopes In China

A Japanese property management company says it plans to build the world’s tallest building in Shanghai.

The 1,509-foot, 95-story International Financial Center Tower would top the 1,430-foot, 100-story Sears Tower in Chicago by 79 feet, China’s official Xinhua News agency reported Tuesday.

Construction will start before spring 1997 and be completed by 2001, Xinhua said, citing Junnrian Mori, president of the Forest Overseas Co. Ltd.

The building will have 3.4 million square feet of office space, and will cost about $960 million, Xinhua quoted Mori as saying.