Why the Tower of Pisa’s new owners are selling their old towers
Posted On July 5, 2021
It is the year 2022.
As the tallest building in the world, the iconic Pisa Tower of Light in Italy is still being built, and its completion date has been pushed back to 2024.
And as we now know, that tower is still not fully operational.
“In the last six months we’ve sold more than 40 percent of our towers and we are now in a phase of sales that is not going to be the same in three years,” said Andrea Del Vecchio, president of the firm that is building the new tower.
The Pisa tower is not the only one facing an uncertain future.
The other two towers that are currently being built around the world are also facing a major setback.
The $1.7 billion tower in Dubai is now being built on a floating platform, and it will have to be dismantled when the construction is finished.
And the $3 billion, 1,000-foot-tall, 1-tonne tower in Taipei, which was expected to be completed by 2019, is facing another delay.
Del Vecio is hoping to sell off the towers in 2017 and 2018, and that the firm will be able to sell the other tower, called the 6072, to an investor group led by the Italian government.
The company has also launched an online auction of the tower in 2018.
Delvecchio told CBS News that the company has already sold off the 6032 and the 717, the two remaining towers.
“There are a few hundred million euros [$1.5 billion] left in the building and there is a possibility to get the 718 one, but this is a very expensive tower, so it’s not something we can do,” he said.
“The company is still in talks with a few buyers.
But it’s a matter of time.”
In the meantime, Del Vecchi said he is hoping that the government will allow him to build a second tower.
That tower will be the first tower of its kind in Europe.
“We want to build another one in Italy and it’s possible,” he told CBS.
“I think the government has a lot of problems, and we’ll see if it will allow us to continue this project.”