Construction is set to begin early this year on the European Extremely Large Telescope, a nearly US$ 1.4 billion project in Cerro Armazones, Chile, reported Constructiondigital. The instrument, which will be the world's largest ground-based optical telescope, will give sky enthusiasts and astronomers the world over an unprecedented view of the cosmos, allowing for the discovery of earth-like planets, insight into the mysteries surrounding dark matter and dark energy, and one of the deepest views into the known universe. The project, headed by the European Southern Observatory (ESO), will break ground early 2012 as crews prepare access roads to the remote site within Chile's Atacama Desert and begin preparation of the telescope's five mirrors. The primary mirror will measure a staggering 42 meters across - more than 30 meters larger than the Keck Observatory in Hawaii (10 meters). The telescope's incredible size will allow for 15 times more light collection than the biggest telescopes currently in operation. The ESO hopes to have the telescope operational within the next decade."The E-ELT is starting to become reality," said ESO Director General Tim de Zeeuw. "However, with a project of this size it is expected that approval of the extra expenditure will take time. Council at the same time recognizes that preparatory work must start now in order for the project to be ready for a full start of construction in 2012."

Tokyo Sky Tree is on target to be the tallest structure in Japan upon completion in the spring of 2012, reported constructiondigital. Located in the Narihirabashi/Oshiage part of the Sumida Ward of Tokyo, the Tokyo Sky Tree broadcasting tower will soar nearly 634 meters into the sky, making it one of the tallest in the world and an icon of Japan. Designed by Nikken Sekkei, the tower, which resembles a large tree, will serve as a hub for the country's digital terrestrial broadcasting network. Additionally, the structure features two observation decks and is designed to withstand Japan's frequent earthquakes as well as strong winds. Though many may see this as Japan's way of getting in the race for the world's tallest structure, the height of the Tokyo Sky Tree serves an important function-it improves the towers ability to send the broadcasting signals over the tall skyscrapers of Tokyo. The base of the tower resembles a tripod. The three 'legs' anchor the structure to the ground. As it rises, the structure begins to curve around a central tube into the sky. Observatory levels at 350 meters and 450 meters allow visitors to have panoramic views of the urban landscape. The lower level will feature restaurants and retail opportunities. Japan isn't a stranger to earthquakes and strong storms. As a result, architects must design structures with disaster prevention features to withstand movement from above and below. Taking inspiration from the traditional Japanese pagoda, the tower relies on a central column for stability. According to the architects, "this system counters swaying set in motion by earthquake tremors and strong winds, ensuring a safe and reliable structure." The Obayashi Corporation is serving as the general contractor on the Tokyo Sky Tree project.

According to information agency Interfax, on December 22 the vice president of "Tashir Group" Vitaly Efimkin announced, that the company planned to put into operation 11 buildings with total area 600 thousand square meters in 2012. As Efimkin said, 9 of 11 buildings will be shopping and entertainment centers "RIO", 2 of them in Moscow and 7 in other regions of Russia. Another two projects, which planned to be opened in 2011 are the 70 thousand square meters multifunctional recreation complex in "Moscow City" and the "Yaroslavl" hotel with total area of 18 thousand square meters. . According to Efimkin, "Tashir Group" in future may continue to open oceanariums in Russia. It is very successful project, as during the first month more than 250 thousand people attracted the first Russian oceanarium. . "Tashir Group" was founded in 1999. It is development and retailing company and to date manages more than 850 thousand square meters commercial real estate. It should be noted, that the company's turnover for 2011 will be US$ 2.8 billion, while in 2010 it amounted to US$ 1.725 billion.

As reported by mail.ru, the first deputy minister of Cuban Domestic Trade Odalys Escandell announced, that on December 15 authorities cut prices on building materials by 20-30 percent. According to Escandell, prices were lowered for 122 items of building materials, including concrete blocks, sanitary ware, bricks, waterproofing and other materials. It should be noted, that prices in all 286 building material stores are determined by the Cuban government. Deputy minister also added that since December 20 all residents wishing to renovate their homes or build a new one, had the opportunity to apply to banks for loan and about 5 hundred new bank offices were opened around the island. Problems in construction industry remain as one of the main obstacle of island's economy. According to officials, over 40 percent of housing is in poor condition. The country's leader, Raul Castro and several other leaders have repeatedly talked about the need to stimulate the development of private home remodeling segment.

Germany's Porsche design Group and a local developer Dezer Properties planned to built Porsche Tower in Miami, reported the Trulia. A US$ 560 million project, a 57-storey building will rise in Sunny Isles Beach. According to Moscow Sotheby's International Realty in December project was approved by the city authorities. It is the world's first condominium complex with elevators that will take residents directly to their units while they are sitting in their cars (however we wrote about the same type going building). Finding a parking space near their front door will no longer be a worry for anyone lucky enough to live in the new multimillion pound. They can just pull into a designated space, turn off the engine and sit back and enjoy the oceanfront view as they are escalated in a glass elevator to the front door of their apartment. After the resident pulls over and switches off the engine, a robotic arm that works like an automatic plank will scoop up the car and put it into the elevator. The glass elevators will give residents and their guests unparalleled views of the city or of the ocean during their high-speed ride, expected to last 45 to 90 seconds. The luxury building will be constructed on 9 thousand square meters of land on Collins Avenue. It will have 132 units, with smaller units being allocated two parking spaces and the larger ones, four, and 284 robotic parking spaces in total accessible via three elevators. Apartments will range from 350 to 880 square meters and are expected to cost up to US$ 9 million each.