The construction cost estimates I referenced don’t consider delays at all. I agree delays make this less attractive.
We’re talking about building something so much taller that the land cost is only about 10% of the total cost, which means most of the delay happens before most of your expenses (the period when your capital is tied up) so this isn’t terrible, but it does still add a lot of uncertainty to the process.
The construction cost estimates I referenced don’t consider delays at all. I agree delays make this less attractive.
We’re talking about building something so much taller that the land cost is only about 10% of the total cost, which means most of the delay happens before most of your expenses (the period when your capital is tied up) so this isn’t terrible, but it does still add a lot of uncertainty to the process.