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 492 metres 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.
Construction of the SWFC was delayed on two occasions, first by the Asian financial crisis and then by Sino-Japanese political tension, which led to fierce Chinese criticism of the original design.
A large circular hole that was meant to house a ferris wheel near the top of the structure was viewed as reminiscent of the sun at the centre of the Japanese national flag.
Following the criticism, the hole was redesigned as a rectangle.
Mr Mori said the Shanghai economy would continue to grow strongly in spite of a slowdown in the global economy.
It would generate demand for two to three times as much premium office space as was available in the city's Lujiazui financial district, he said.
The SWFC charges $3 per square metre per day in rent, which is among the highest commercial rent in the city.