Fallout from the global financial crisis will not depress demand for office space in China’s tallest building, the 101-storey Shanghai World Financial Centre, according to Minoru Mori, the Japanese real estate tycoon who built the landmark skyscraper.

The building, which is 492m high, opened this month with an occupancy rate of 45 per cent, higher than had been predicted.

According to the building’s management, the occupancy rate is expected to reach 90 per cent within a year, given the strong demand for premium office space in Shanghai.

The tower, which took more than 10 years to build, has the world’s highest observation deck.

Financial Times