The current economic crisis has had dire and far and wide implications. The automobile industry, financial institutions, insurance giants and indeed, entire nations – hello, Iceland – have all been hit hard. Small towns with hundreds, if not thousands of people, in the employ of one or a few big corporate fish, are in trouble.
With less discretionary income, one obvious area where many people cut down is travel. While there are myriad deals to be had in the present economic climate, from airlines to operators, hotels and restaurants, it remains to be seen what the penultimate ripple effect on tourism will be.
One potential area sure to take a hit is the construction industry, most notably in the realm of ambitious, supertall skyscraper projects. As a result, urban skylines around the world will have less shiny jewels to brag about and ultimately, that could have a pervasive impact. Here are several of the most prominent developments under threat because of the current global economic crisis.
Chicago has a skyline that cuts a lucent swath on the shores of Lake Michigan. From the Sears Tower to the John Hancock Center, The Windy City is a civil engineer’s dream, with a terrific array of structural landmarks on display. One new arrival on the cityscape that may never see the light of day is the Chicago Spire.
The $1 billion super-project is officially on hold but on paper, soars above every other structure in the Americas, with 150 floors that extend 2,000 feet into the sky. The design is no less impressive either and certainly breaks the mold for what currently passes as a skyscraper in Chicago. Unfortunately however, the development group in charge of the Spire has been unable to secure financing.
Anyone familar with Dubai is intimately aware of the city’s obsession with the philosophy “bigger is better”. The Al Maktoum rulers of the United Arab Emirates have been insatiable in their quest to transform the Persian Gulf city and indeed the country, into a global financial hub. With indelible skyline gems like the Burj Al Arab, Emirates Towers and Palm Islands, Dubai’s construction boom over the past decade has yielded unprecedented results.
One massive sacrificial lamb however, may be the Burj Dubai, or Nakheel Tower. Already the holder of many supertall records, the incomplete tower will reach 1 km in height if construction begins anew. Work on the awesome skyscraper however, is currently on hold.
Perhaps no other city in the world has undergone more precipitous reversal of fortunes in the past two decades than Moscow. From socialism to unregulated free market capitalism, now held in firm check because of the global financial collapse, the new money in the vast capital of Russia has had no choice but to curb a recent dalliance with decadence.
The cranes on Moscow’s skyline have been ground to a halt as a result. The most ostentatious project on hold has to be the Russia Tower, which on paper at least, would have sat just behind the Burj Dubai in size and scope.
Santiago is not known as a city with a skyscraper-rich skyline. The capital of Chile’s inherent appeal rather, is in the realm of arts and culture. A massive project, at least by current South America standards, was to help change all that.
With 60 floors, the Torre Gran Costanera was to have been the king of all skyscrapers on the continent. Alas, the current economic crisis has put the project in jeopardy.
With over 3.5 million people, Jeddah is the commercial capital of Saudi Arabia. As a power player in the Middle East, there are many big plans for the city’s skyline.
The Mile-High Tower was to compete with the supertall skyscrapers of Dubai, with a height of 1,600 m. The project may never get off the ground however and if it does, will most likely not approach the heights it does on paper.
The Tokyo skyline is one of the most impressive in the world, with a dense concentration of concrete, steel and glass. One potential new addition is the Tokyo Sky Tree. The broadcast tower will rank first in Japan in height upon completion and second in the world. Not necessarily under threat of delay, it remains to be seen whether the global economic crisis affects construction.
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