Grant Thornton provides cost engineering services to CITIC tower

CITIC Tower, also called “China Zun Tower” due to its gently rising and curving form bearing resemblance to an ancient Chinese ritualistic vessel, called the “zun”, will be the tallest skyscraper in Beijing once completed. The new height of 528 meterswith 108 floors above ground and 7 floors below ground will with no doubt make China Zun Tower a new landmark in the CBD of Beijing. Grant Thornton has been privileged to be able to provide cost engineering services to CITIC in this iconic project including final account audit for underground construction upon its completion and project budget audit for above-ground structures.

CITIC Tower has set many “firsts” in China as well as in the world, such as the first skyscraper built on the assumption of 8 degrees of seismic fortification intensity to exceed 500 meters, the first intelligent jumping steel platform for construction integration, which resulted in the largest plan area and carrying capacity in civil engineering, and the first jump lift to carry two cranes and with service height over 500 meters. However its innovative and ground-breaking design, technology and engineering also bring unprecedented complexity and challenges to delivery of cost engineering services. Grant Thornton people and methodology have been pivotal to our successful delivery of quality and effective services. A carefully-selected team of cost engineers and certified public accountants with rich experiences in super high-rise projects were assigned to the engagement, and methodology-based processes and procedures were followed rigorously including tightly-scheduled project management,utilization of external experts, extensive market survey and price and cost benchmarking, as well as identification of key risk areas to improve service efficiency and quality. The cost engineering services delivered by Grant Thornton has improved investment efficiency well beyond expectation and received high compliment from CITIC. This exemplary project is going to establish a land mark equally in the field of construction and engineering audit and consultancy in China while CITIC Tower, which will be completed soon in 2018, is making its debut to the world.