Crunch halts progress on Europe's highest residential project

UK property developers KW Linfoot and Frasers Property have put a £225mln (EUR 283mln) construction project on hold due to the credit crunch, the developers announced on Thursday. Billed as Europe's tallest residential buildings, the Lumiere project in Leeds, was set to transform the city's skyline. The project featured two glass towers of 54 and 32 storeys with a winter garden linking them. More than 600 of the 952 apartments have already been sold.

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