SHANGHAI, Nov. 21 (Xinhua) -- The World Financial Tower which is under construction in Shanghai will have the world's highest observation deck at 472 meters.

It will be 25 meters higher than the current word's tallest observation deck, the CN Tower in Toronto, Canada, sources with Japan Mori Building Co., Ltd. and Shanghai World Financial Tower Co., Ltd., developers of the project said on Tuesday.

The 101-storey building will be called Shanghai Hills World Financial Tower.

Located in Lujiazui Financial and Trade Zone of Shanghai, the office tower, with 381,600 square meters of floor space, is to be completed in the spring of 2008. The skyscraper will be 492 meters tall.

The bottom floors will contain 13,600 square meters of shopping mall, which can accommodate up to 60 franchised stores and restaurants. A Grand Hyatt hotel will be built between the 79th and the 93rd floor.

The Shanghai Hills World Financial Tower is one of the three landmark structures designed for the center of Lujiazui Financial and Trade Zone. The other two are Jinmao Tower and another skyscraper whose height has yet to be decided.

At 420.5 meters high, Jinmao Tower is the world's fourth tallest after the 508-meter-high Taipei 101 Tower in Taiwan, the Petronas Tower in Kuala Lumpur, and Sears Tower in Chicago.