Revolving tower in Dubai attracts US and UK investors

Americans and Brits are showing most interest in investing in the world's first pre-fabricated revolving tower in Dubai.

According to the developers investors from either side of the Atlantic are reserving more of the apartments in its first development in Dubai than investors from any other country.

Since plans by architect David Fisher for the innovative tower were unveiled last month Rotating Tower Dubai Development Ltd has received more than 600 reservations. A spokesman said 140 of them were from the US and 94 from the UK.

The apartments are not for the faint-hearted. Each is designed to have a 360 degree view as rotate around a central pillar, powered by wind turbines set between each floor. The prices are spectacular too with the top end apartments priced at £15.8m.

The Dubai tower will have 80 floors and be 420m tall. Fisher is now working on plans for a revolving tower in Moscow and will then look at one for New York. His architect company has also received expressions of interest from Germany, Canada, Italy, Korea and Switzerland.

As the tower will be pre-fabricated with the parts being made in Italy, the amount of time spent on construction is greatly reduced. 'It will only take six days to complete one floor,' said Fisher. In contrast, the average time taken to complete a floor of a traditional building is around six weeks.

It is estimated that the tower will be complete in 2010 after just 20 months of construction using 600 workers to assemble and then just 80 technicians on site instead of the more usual 2,000 site workers needed for a traditional construction.

The first 20 floors will be offices, floors 21 to 35 a luxury hotel and 36 to 70 residential apartments. The top ten floors are reserved for luxury penthouses.

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