Well-known architect Nonda Katsalidis and his group of supporting investors gave up their share in Australia 108 building, after a key miscalculation in planning was revealed.

The residential building had been designed by architecture firm Fender Katsalidis for Southbank and was expected to be the highest of its kind in the southern hemisphere, with 108 floors and reaching to 388 metres high.

The mega-tower was originally designed to follow the repetition of number ‘8’ according to feng shui principles to attract Asian buyers.

”The 388-metre height was not an accident. Good planning often coincides with feng shui and the number 8 is like a lucky rabbit’s foot,” Mr Katsilidis said after the project was announced.

In fact, some prospective buyers appear to have paid a $1000 registration fee to secure an apartment.

However, upon the design and approval of the building, architects Fender Katsalidis and Planning Minister Matthew Guy were not aware of the PANS-OPS flight path restrictions until Fairfax Media brought up the issue of violation of federal air safety regulations for Essendon airport.

Therefore, the height had to be reduced to just 132 metres, causing disorder to the original feng-shui vision elements incorporated in the structure.

Nondas Katsalidis, private investor Benni Aroni and Adrian Valmorbida of the Lavazza coffee fortune are among the people who financed the project, but according to Fairfax Media Australia 108 was put on sale after the failure of the original plan.

”As far as I’m concerned the project is going ahead and we’re still the architects,” Mr Katsalidis told Fairfax Media.

According to industry sources, Aspial Corporation is the Singaporean developer who purchased the project before Christmas with the sale price likely to be well within $30 million – The group’s plans for the project are expected to be released in early 2014.

Source: The Age