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| Wales' tallest building approved | Wales' tallest building approved |
| (about 1 hour later) | |
| A 33-storey apartment block will become the tallest building in Wales after planners in Cardiff approved a new development on the waterfront. | A 33-storey apartment block will become the tallest building in Wales after planners in Cardiff approved a new development on the waterfront. |
| The £500m Bay Pointe development will consist of 10 residential buildings housing 1,800 flats. | The £500m Bay Pointe development will consist of 10 residential buildings housing 1,800 flats. |
| One of the towers will provide 360-degree views of Cardiff and beyond. | One of the towers will provide 360-degree views of Cardiff and beyond. |
| But residents have complained the towers will be overbearing and a major letting agent said there were already hundreds of empty flats in Cardiff Bay. | |
| The development is one of a number of skyscrapers planned for Wales. | The development is one of a number of skyscrapers planned for Wales. |
| A 29-storey building is under construction in Swansea, and work on another high-rise in Cardiff city centre, called the Glass Needle, is due to begin later this year. | |
| The Bay Pointe development will be built at the International Sports Village site near Penarth and will include a waterfront park with cycle paths and a pedestrian "green route" through the area. | |
| Chris Hamilton, managing director of Bay Pointe Ltd, said the towers would be a "stunning landmark". | |
| We've overdeveloped certain areas and built the wrong type of properties Michael Jones, estate agent | We've overdeveloped certain areas and built the wrong type of properties Michael Jones, estate agent |
| "Bay Pointe will give the people of Cardiff easier access to the 14km of waterfront that has been created by the construction of the barrage," he said. | "Bay Pointe will give the people of Cardiff easier access to the 14km of waterfront that has been created by the construction of the barrage," he said. |
| "Together with the other leisure and retail elements planned for the Sports Village, Bay Pointe will transform what was previously a piece of derelict land into a dynamic, inspiring space, breathing fresh life into the already thriving and expanding Welsh capital." | "Together with the other leisure and retail elements planned for the Sports Village, Bay Pointe will transform what was previously a piece of derelict land into a dynamic, inspiring space, breathing fresh life into the already thriving and expanding Welsh capital." |
| The project should be completed some time between 2014 and 2016. | The project should be completed some time between 2014 and 2016. |
| However, Michael Jones, from Michael Jones Estate Agents in Cardiff said the housing market in the city was slowing down. | |
| "With the development of the Bay, there have been a lot of people buying and speculating, and that bubble does appear to have burst," he told BBC Wales. | |
| "I'm aware of some huge investments by national and international companies and they are struggling to reach their targets. | "I'm aware of some huge investments by national and international companies and they are struggling to reach their targets. |
| "We've overdeveloped certain areas and built the wrong type of properties." | "We've overdeveloped certain areas and built the wrong type of properties." |