Thursday, November 14, 2013

UAE to be home to more than 192 hi-rises by 2015

The UAE has been ranked as one of the fastest growing real estate markets in the world, which is expected to house 192 skyscrapers or more than 150 metres in height towards the year 2015, say latest report.

The Dubai skyline will be home to 149 hi-rises, while Abu Dhabi will have 32 hi-rises, Sharjah will have 8 towers, Fujairah two and Ajman one tower, said the Council on Tall Buildings and Urban Habitat (CTBUH).

The first skyscraper of more than 150m height in Dubai was the Burj Al Arab, in 1999. Dubai, however, has only two towers with more than 100 storeys, namely, the Burj Khalifa (160 storeys) and the Princess Tower (101). It has been reported that Dubai is likely to get two new 100 storey towers on Sheikh Zayed Road. Currently there are only 21 towers in the world that are more than 100 storeys in height.

The Middle East will have 289 towers overall of more than 150 metres in height by the year 2015.  Qatar follows UAE on the list, with Doha having 28 tall towers, followed by Saudi Arabia with 10 tall towers.
UAE currently also remains topmost in the world in housing seven tallest residential towers with four in Dubai Marina district.

According to Emporis, the organisation collating information on building and construction projects, the desire for recognition and prestige and demonstration of economic growth are most vital factors leading to construction boom, particularly of gigantic apartment palaces.

A globally built asset consultancy based in UK, EC Harris, said that within the next decade the trend of building ‘megatall’ towers of more than 600m height is likely to catch-up, particularly in Middle East.

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