Around the world you can see commercial architecture sitting on some very expensive plots of land. In 2017 Henderson Land Development purchased what many believe to be the most expensive plot in the world. They paid a huge £2.2billion for a 2,880sq/m site that is currently a multi-storey car park. This works out at a massive £764,000 per square metre.

Why is the price so high?

There are a number of potential reasons for the high price. Firstly the plot was initially the property of the government of Hong Kong. This is the first time such a sale has been done since 1996.

Secondly the plot is in an incredible location. It sits on Murray Road, right in the heart of the financial district. Across the road from the site is the stunning Bank of China Tower by IM Pei. The HSBC main building by Foster + Partners is also a short distance away.

What is the future for the site?

In March the Buildings Department of Hong Kong granted planning permission for a proposal for the site. The current multi-storey car park will become a 35-storey Grade A office building. Zaha Hadid Architects (ZHA) will design the new office, marking their second project in the territory. The plan is to finish it by the third quarter of 2022.

The design of the building could fit alongside the other iconic commercial architecture in the area. The brief is the office must be green, smart and healthy, ensuring it can obtain the best international accreditations.

It will be interesting to see the designs when they are finalised and officially revealed. A good design that meets the brief could place the commercial architecture amongst the most prestigious in the area.

ZHA is currently one of the leading firms in tower design in the world. They are creating designs to suit a myriad of different needs. For example the company is working on the tallest residential tower in Mexico City and two mixed-use towers in London.