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In Chongqing, Singapore, one of the city's latest and largest megaprojects is Raffles City, an under-construction development with eight skyscrapers - plus a ninth, horizontal tower that Curbed has dubbed a "sidescraper."
Resembling a cruise ship, the roughly 1,000-foot-long building includes a hotel lobby, greenhouse, office space, restaurants, with the viewing deck lying across three other skyscrapers. The complex, called Marina Bay Sands, opened in 2011, but the larger Raffles City will be complete by 2020.
The complex is part of a larger trend. In the past several years, cities across the world have built fancy megaprojects, mainly aimed at the wealthy. But these types of luxury developments can take the place of affordable housing, especially in overcrowded cities. As the Urban Institute notes, developers see big returns from large, high-priced projects, giving them little incentive to build more equitable, lower-priced housing.
Called the Conservatory, the cylindrical structure will house a giant swimming pool, observatory deck, and retail.
Luxury skyscrapers in cities are nothing new.
But in recent years, some of the world's most populated metros — like New York City, Manila, Beijing, and London — have embarked on ritzy megaprojects full of high-rises.
Meanwhile, gaps between the rich and poor continue to grow in these cities.
In New York City — one of the world's most economically diverse cities — developers are building a $20 billion neighborhood across 28 acres of Manhattan's west side. Called Hudson Yards, it includes towers with multi-million-dollar condos, upscale restaurants and shops, and event spaces.
When complete by 2024, the ritzy megaproject will also feature about 14 acres of outdoor public space.
Across the pond, London is working on the $16.5 billion Battersea Power Station development, featuring luxury apartments, hotels, roof gardens, parks, and offices.
It is one of the most expensive megaprojects in the city's history.
Manila is building a megaproject that's almost as expensive at $15 billion — Entertainment City. Imagined as the "Philippines' Las Vegas," the development will have an array of casinos as well as luxury hotels and apartment units when complete.
At Raffle City's Marina Bay Sands, the sidescraper's viewing deck is open to the public — but the rest of the complex is not.
"In these dense cities like Chongqing there's no room for big public parks [on the ground], so we have to lift them into the sky," Raffle City's lead architect, Moshe Safdie, told The Guardian.
While the suspended viewing deck could serve as a makeshift public park, it's still unlikely that the complex and larger project will address Chongqing's affordable housing pinch.
As Business Insider's Linette Lopez has noted, Chongqing's income limits on affordable housing could be too high, making it possible for wealthier residents to snap up low-priced units.
Singapore's government expects the city-state to have 1 million more people by 2030, with many settling in urban hubs like Chongqing.
However, due to their price and scale, luxury megaprojects usually do not serve most residents in overcrowded cities.
The projects often take the place of more affordable housing, because developers have trouble producing enough revenue from rent to pay returns to investors.
