What the developers say about Kairoi’s residential elevator costing $4.5 million
The developers of a residential elevator in the middle of Kairos biggest commercial district have been given a price tag of $4,000 per square foot, more than double what the owner had initially claimed.
The developer, Gautam Kumar, said in a statement to ABC News that he has been “working with a local engineering firm to assess the cost of construction of a new residential elevator”.
The developer said the construction of the new elevator will cost around $4 million, but that cost will increase to about $6 million if there is a major earthquake and the building is destroyed.
Kumar said the new tower is scheduled to open later this year.
He said the project is “on schedule” and is being built “within budget”.
Kumar, who is the CEO of a company that owns and operates the tallest residential building in the world, said he has built a number of towers in Kairoa, including one with a height of 865 metres (2,931 feet), and another that is almost double the height of the existing tower.
Kampur said the building will be built by a contractor, but it is unclear what the cost will be.
Kampurs project is one of the largest residential projects in the country and will be the largest in the city of Kabora.