Watkin Jones, a Bangor-based builder and developer, has secured permission from the planning authorities to build a 42-storey structure of student flats in Cardiff, UK.
The tower will be 132m high and once completed, it will become the tallest building in Wales.
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Currently, Swansea’s 107m-high Meridian Tower is the tallest building in the area.
Watkin Jones intends to begin the concrete-frame-made construction of the building later this year and complete it by 2018.
The Cardiff structure features 447 rooms and will be situated in the city centre.
Once finished, this would be operated by Fresh Student Living (FSL), a firm that is connected to the Watkin Jones Group.
FSL presently manages about 10,000 student beds across the UK.
The green signal from the planning authorities comes as the firm is going ahead with its plans for a stock market flotation, reported Constructionenquirer.com.
It expects to raise up to £300m through the stock market flotation later this month, according to media reports.
The proceeds will help the firm to go ahead with development plans. It had seen three years of robust growth, during which it had tripled its staff count to around 600.
It has expanded several student schemes in the UK, including those in Glasgow, Leeds, Edinburgh, Sheffield and Liverpool.
