New York skyscraper developers face high air-rights costs

With $330m in air rights bought and sold in the last two years alone, New York is considered a trailblazer in the market and now other global mega cities are following suit.

by

    As more skyscrapers are built in New York, developers there are under pressure to not only to buy the land - but also the air around it.

    With $330m in air rights bought and sold in the last two years alone, New York is considered a trailblazer in the market and now other global mega cities are following suit.

    Al Jazeera's Gabriel Elizondo reports from New York.


    YOU MIGHT ALSO LIKE

    Can Muslim leaders alter Trump's Jerusalem decision?

    Can Muslim leaders alter Trump's Jerusalem decision?

    Turkish president calls Jerusalem a 'red line' as he hosts an Organisation of Islamic Cooperation summit in Istanbul.

    'Beaten' Palestinian boy in viral photo charged

    'Beaten' Palestinian boy in viral photo charged

    Fawzi al-Junaidi, 16, denies accusations of throwing stones and protesting, saying he was severely beaten by Israelis.

    Donald Trump: A president swallowed by history

    Donald Trump: A president swallowed by history

    The US has tried and failed to create a capital for another state before. "Israeli" Jerusalem will be the next Saigon.