UAE and Saudi Arabia set the pace with 'Megatall' towers

30 September 2013: The Middle East is rising to new heights in the global 'Megatall' towers race says EC Harris in its unique study; Megatall: What does it take?

The new report by the program and project managers found that economic power and wealth, alongside limitations on space, are the key drivers behind the increase in construction of 'Megatall' towers. This is particularly so in the Middle East where the prospering confidence of the UAE and Saudi Arabia is reflected in their emergent skylines.

Within the next decade, the trend of building 'Megatall' towers - those which reach more than 600m high - is likely to increase, particularly in the Middle East.

Four out of ten of the world's tallest buildings are currently located in Asia's economic powerhouse - China, but Dubai is storming ahead with three of the world's four tallest buildings to be built there alongside the current tallest building in the world; the Burj Khalifa.

Although the 2014 opening of China's Sky City will reach higher than the Burj, its crown will soon be taken by the Kingdom Tower in Saudi Arabia. Due for completion in 2019, the Kingdom Tower will dominate the world's 'Megatall' towers, rising to 1000m; just over three times the size of The Shard - the UK's tallest building.

Economic power is not the only force driving the 'Megatall' trend. In contrast to mature markets in the West, where planning governance has a significant impact in controlling building height, a much more relaxed planning regime in the Middle East is empowering developers to reach for the skies and build tall. This allows for the demand for housing, office, retail and leisure space from cities with high population growth rates to be met, especially when land is scarce.

Terry Tommason, Head of Property, Middle East at EC Harris, commented: "There is an undeniable correlation between economic growth, confidence and power and the rise of the 'Megatall' building. Historically, North America signalled its economic dominance by building tall but its mantle was over taken by Asian economies, particularly China, when the economic balance of power moved east. Now, the Middle East, with its booming economy, is set to shift the balance once again.

"Conceiving and delivering a 'Megatall' structure is, however, unlike any other building challenge; it is truly unique. It requires many factors to be taken into consideration by both developers and investors to ensure a safe and efficient structure is delivered, within time and on budget.

"The construction market in the Middle East has continually shown this tenacity and expertise in the last decade or so, which, combined with its economic growth, is why it is now taking the lead in outstripping the West in terms of 'Megatall' buildings. With the Kingdom Tower in Saudi Arabia due for completion in the next six years and economies in the Middle East continuing to grow, there is no sign of this trend toward the 'Megatall' slowing."

The full report is available for download here.

For further press information please contact: 
Andy Rowlands,
EC Harris
andy.rowlands@echarris.com
T: +44 (0) 207833 6662/ M: +44 (0) 7810 850 476 

About EC Harris
EC Harris is a leading global Built Asset Consultancy. As an ARCADIS company, we have access to approximately 22,000 professionals worldwide operating in over 70 countries, 300 offices and generating in excess of €2.5billion in revenue. Working across a wide range of market sectors, we help our clients make the most from the money they spend on their built assets.  For more information visit www.echarris.com/

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© Press Release 2013