Lotte World Tower to Open in Early April

A 555 meter skyscraper built by South Korean retail giant Lotte Group will be open early next month.

After completion of a four trillion-won worth construction, the 123-story Lotte World Tower was unveiled to the press on March 21 ahead of its grand opening to the public on April 3. The landmark building houses offices, luxury residence and a hotel, and an observation deck at the very top.

The construction of the landmark was a mega real estate project long envisioned by Lotte Group founder Shin Kyuk-ho, who always aspired to have "something world-class" to further boost his lifetime’s retail and tourism businesses.

Six years after the ground breaking, the skyscraper is now the world's fifth-tallest building after the Burj Khalifa in Dubai, the Shanghai Tower, Makkah Royal Clock Tower Hotel in Saudi Arabia and One World Trade Center in New York.

Lotte World Tower houses a “Podium” consisting of a finance center, medical center, fitness center, and gallery from its 1st to 12th floors. The 14th to 38th floors offer prime offices, followed by the “Signiel Residence” to the 71st floor, and the “Signiel Hotel” from the 76th to 101st floors. The 108th to 114th floors will be used as premium private offices, and the observation deck “Seoul Sky” takes up the 117th to 123rd floors.

The lavish residence suits named Signiel Residence are priced at approximately 70 million won (US$61,000) per 3.3 square meters. Lotte Group Chairman Shin Dong-bin is expected to move into the residence.

Signiel Seoul, a luxury hotel with some 235 rooms, will be located in the upper part of the landmark building. The Signiel Seoul will be the world's second-tallest hotel. The six-star hotel’s rooms start at 650,000 won (US$5,650) a night, with the Royal Suite going for 20 million won (US$17,400),

The observation deck Seoul Sky is the third-highest observation deck in the world. The two double-deck Sky Shuttle elevators run at 600 meters per second with a joint capacity of over 100 people. The observatory, which can hold up to 900 visitors at once, offers visitors a view as far as 40 kilometers away in fair weather.