Toronto, Oct 3 (IANS) The world's tallest wood building at 18 storeys -- about 174 feet -- is set to be completed four months ahead of schedule, showcasing the advantages of building with wood, officials in Canada said.

"This remarkable building, the first of its kind in the world, is another shining example of Canadian ingenuity and innovation, an apt demonstration of how Canada's forest industry is finding new opportunities through technology and innovation -- opening up a world of possibilities for our forest and construction industries," said Jim Carr, Canada's Minister of Natural Resources.

The mass wood structure and facade is for the University of British Columbia's Brock Commons student residence.

The structure was completed less than 70 days after the prefabricated components were first delivered to the site. Construction will now focus on interior elements, with completion expected in early May 2017 -- 18 per cent (or four months) faster than a typical project, a university statement said.

Brock Commons is the first mass wood, steel and concrete hybrid project taller than 14 storeys in the world. The building is expected to welcome more than 400 students in September 2017, the statement added.

The building has a concrete podium and two concrete cores, with 17 storeys of cross-laminated-timber floors supported on glue-laminated wood columns. 

The cladding for the facade is made with 70 per cent wood fibre.

"Brock Commons is living proof that advanced wood products are a terrific material to build with and support efficient assembly," Steve Thomson, Minister of Forests, Lands and Natural Resource Operations, said.