The wood products company Sumitomo Forestry estimates that the cost of the building, which will have 70 floors, will be around 600 billion yen ($5 billion), almost twice the cost of a conventional building, a company spokesperson told Efe news on Tuesday.
However, Sumitomo Forestry believes that technological advances will see the projected costs fall by 2041, when the company will mark its 350th anniversary.
The W350 tower, which will be built in central Tokyo, will be 90 per cent wooden and 10 per cent steel and have greenery climbing through it to give it a more natural look. Once it is completed, it will be the world’s tallest wooden skyscraper.
Currently, the world’s tallest wooden building is in Canada and stands at 53 metres, according to the architectural website Arch Daily.
The W350 will have a floor space of 455,000 square meters and will have apartments, offices and shops, all of which will be surrounded by abundant foliage to convert cities into forests, the company said in a statement.
The spokesperson said the company will first build a smaller building, about 70 metres high and with 14 floors, before getting into the larger project but did not confirm the completion date of the other building.
In addition to having a more natural look, the building will also use wood, enabling it to withstand fire for three hours, which together with the greenery, will prevent it from easily burning down.
Other projects of this kind have also been announced in other parts of the world, including in Chicago, which is planning to construct a 244-metre high tower.