The most distinctive feature in the design of the building is an aperture at the peak. The aperture originally was meant to be a circular moon gate, but the intended design began facing protests from Chinese, including the mayor of Shanghai, who considered it too similar to the rising sun design of the Japanese flag. Pedersen then suggested that a bridge be placed at the bottom of the aperture to make it less circular. On 18 October 2005, KPF submitted an alternative design to Mori Building and a trapezoidal hole replaced the circle at the top of the tower, which in addition to changing the controversial design, will also be cheaper and easier to implement according to the architects. An observation deck on the 100th floor is also now part of the final design. The skyscraper's roof height has been set at 492 m (1,614 feet), and when completed in early 2008 is expected to temporarily have the highest roof in the world. Before construction resumed on the roof, tower height was scheduled to be 510m so the building would hold the title of the worlds tallest building (structural top) over the Taipei 101, but a height limit was imposed, allowing the roof to reach a maximum height of 492m. Architect William Pedersen and developer Minoru Mori have resisted suggestions to add a spire that would surpass that of Taipei 101 and perhaps the Freedom Tower, calling the Shanghai WFC a "broad-shouldered building". Even so, its roof height will be the third highest in the world after the Burj Dubai complex and Chicago Spire. Upon completion the SWFC will boast a gross floor area of more than 377,300m² and feature 31 elevators and 33 escalators.

The foundation stone was laid on August 27, 1997. In the late 1990s the Japanese Mori Building Corporation had a fund shortage caused by the Asian financial crisis, which halted the project after the foundations were completed. On February 13, 2003, the Mori Group increased the building's height to 492 meters (1,645 feet) and 101 stories from the initial plans for a 460-meter (1,509 feet), 94-story building. The new building will use the foundation of the original design. The building construction resumed on November 16, 2003.The building reached its total height of 492 meters on September 14th, 2007 after installation of the final steel girder.