South America's tallest tower, under construction since 2006, has been halted at 22 stories, its developers blaming the current economic climate. Designed by the same architects responsible for the Petronas Towers in Kuala Lumpur and the iconic One Canada Square tower in London's Canary Wharf, Pelli Clarke Pelli, the 60 storey tower was due to complete in 2010 and stand at 300m. At that height it would be the tallest building on the continent and the second tallest in the southern hemisphere.

The tower is the centrepiece of the Costanera Center, built in the central business district of Santiago. Torre Gran Costanera will contain two hypermarkets, two luxury hotels, a six floor mall with more than 200 stores and a foodcourt with a panoramic view for more than 2000 people.