> Why do the rights of the local people trump the rights of people from "elsewhere"?

On at least some level, I find it reasonable that the people who live in a certain place decide over that place. In any case, that is rather conventional, isn't it? It's particularly clear on the level of countries, which is why I mentioned it in my comment. Only citizens or residents of a country, not the rest of the world, get to vote in elections.

> The major question is what harm is being done to the local people by the existence of 50 story buildings

That's really a matter of their personal opinion. Some of us find such buildings repulsive.