TAIPEI, Taiwan (TheStreet) -- You might not have heard of Wuhan before, but you'll be hearing a lot about it soon, because it's set to become the home of the world's tallest towers.
U.K.-based Chetwoods Architects has disclosed plans to build twin, eco-friendly towers, each 1 kilometer tall, in Wuhan, which is the chief transit and industrial center of central China. The structures, called the Phoenix Towers, would be taller than the current world record holder, the Burj Khalifa, which soars 828 meters above the sand in Dubai.
Completion of the Phoenix Towers is likely to stimulate interest among multinational real estate companies in central China's burgeoning cities.
Eastern Chinese metropolises such as Beijing and Shanghai are reaching building saturation, but inland cities with populations in the seven or eight digits such as Wuhan, Changsha and Chengdu are not.
"The missing piece of the jigsaw in terms of how (foreign developers) see the China market is some city or market in the center of China," says James Macdonald, head of Savills Research in Shanghai.
Chetwoods Architects, based in the excited-about-China U.K., is working with Chinese conglomerate the Huayang Group to build the Phoenix Towers, local media in China say. They presented plans to the city about six months ago.
The architect's Web site depicts the project as pair of red-hued, translucent, steeple-like spires, evidently part of a mixed-use commercial compound. They would cover 47 hectares on an island in one of Wuhan's numerous lakes near central China's chief university district.