Projected cost for the building is RMB 4 billion (US$628 million).
Once completed, the 220-story structure will surpass Burj Khalifa to become the tallest structure in the world.
The building will also outshine the 632-meter Shanghai Tower
BSB inked an agreement last week with authorities from Wangcheng district in Changsha, where the building will stand, but the project is still pending approval from central government.
In an interview with Xinhua, BSB chief executive officer Zhang Yue (张跃) said the company plans to break ground on Sky City in November 2012, and that the tower will be completed in January 2013.
The company is confident the government will green-light the project.
BSB is renowned for its eye-opening construction efficiency. Its portfolio includes assembling a 15-story building in six days in June 2010, and erecting a 30-story hotel in 360 hours in December 2011.
According to Chinese newspaper 21 Century Business Herald, the total investment in Sky City is RMB 4 billion (US$628 million), compared with US$1.5 billion on Burj Khalifa and US$2.2 billion on Shanghai Tower.
Getting central government approval should be a simple matter for the company that built China’s Shanghai Expo 2010 pavilion.
In New York Freedom tower has already cost $3.8 billion and is not completed yet. Freedom Tower is looking at a late 2013 completion.