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Tall Building Completions Maintain Momentum in 2018

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Tall Building Completions Maintain Momentum in 2018 250 240 CTBUH230 Year in Review: Tall Trends of 2018 220 Tall Building Completions Maintain 210 Momentum200 in 2018 Abstract 190 The 2018 CTBUH Tall Building Year in Review and Tall Buildings in Numbers data analysis report found that 143 buildings of 200 meters’ or greater height were completed in 2018, down by four from the all-time record of 147 in 2017.* The year 180 also saw 18 completed “supertalls” (buildings of at least 300 meters’ height), the largest number ever. The report covers other170 statistical highlights of 2018 and predicts completions for 2019. Note: Please refer to Tall Buildings in Numbers – The Global Tall Building Picture: Impact of 2018 in conjunction with this paper, pages 9–10. *The study sets a minimum threshold of 200 meters’ height because of the completeness of data available on buildings of that height. 160 Keywords: Statistics, Construction, Completions, 2018, Height, Urbanization 150 150 147 Buildings 200 Meters or Taller Completed Each Year from 1960 to 2019 143 140 1,700 130 130 Total Number of 200-Meter-Plus Buildings in 1,628 1,600 Existence at Key Points from 1920 to 2019 1,598 1,500 120 120 1,400 115 1,478 1,300 110 1,200 103 1,100 100 1,000 900 90 800 83 80 700 614 600 72 73 500 70 70 400 Number of buildings 200 m+ completed each year 300 60 262 73 174 200 145 54 144 161 71 100 50 50 28 26 48 6 11 11 15 7 13 11 3 2 1 0 1920 1930 194019501960 1970 1980 1990 2000 2010 2018 2019 40 32 31 31 30 30 30 23 22 20 19 18 18 17 16 16 15 15 15 14 11 12 11 10 10 10 9 9 9 9 9 10 8 8 7 6 6 6 6 6 6 5 5 4 4 4 3 3 3 3 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Notes: Number of 200 m+ buildings Projected number of 200 m+ buildings 1. We can predict 2019 building completions with some accuracy due to projects now in advanced construction. A range is given to acknowledge the challenging factors in predicting building Number of supertalls (300 m+) Projected number of supertalls (300 m+) completion dates. Number of megatalls (600 m+) Projected number of megatalls (600 m+) 2. Totals after 2001 take into account the destruction of the World Trade Center Towers 1 and 2. Figure 1. Number of 200-meter-plus buildings completed each year from 1960 to 2018, with projections through 2019. 1 Figure 2. Tallest in 2018: China Zun, Beijing, 528 meters. © CITIC Heye Investment The astronomical growth in tall building and represents an even greater proportion A total of 19 cities worldwide got a new construction observed over the past decade of the global total than the 2017 figure of tallest building, all but five of which were in continued in 2018, though the total number 54.4 percent. China’s previous record was set Asia. The new heights being reached in of completed buildings of 200 meters’ or in 2016, with 86 buildings of 200 meters or Southeast Asia are likely indicative of greater height leveled off at 143 (see Figure higher. Second place was again held by the improving economic conditions in countries 1), after hitting an all-time record of 147 in United States, with 13 completions, up from such as Thailand, Cambodia and Vietnam, 2017. The total number of 200-meter-and- 10 in 2017 (see Figure 4). And once again, which are experiencing growth in industrial higher buildings in the world is now 1,478, a outdoing its own record from last year, production, foreign direct investment, and 141 percent increase from 614, in 2010. The Shenzhen, China, recorded 14 completions, tourism, among other inputs. total sum of heights of all completions in making this the third year in a row in which 2018 was 35,246 meters. This is down slightly the city completed the world’s largest Any discussion of business or industry in from the all-time high of 35,849 in 2017, but number of 200-meter-plus completions, and 2018 would have to consider the role of it’s still an impressive figure – if laid end-to- comprising nearly 10 percent of the global China, the world’s second-largest economy, end, these buildings would exceed the length total. In addition to first-place Shenzhen, which is undergoing changes under the of Manhattan Island, which is about 21.6 Beijing and Shenyang, tied for third with leadership of President Xi Jinping. Bearing kilometers long. The tallest building to eight completions, and Nanning, with seven in mind that skyscrapers are lagging complete in 2018 was the 528-meter China completions in sixth place, are in China. economic indicators that take years to plan, Zun in Beijing (see Figure 2). It is the fourth Jakarta, Indonesia, and Kuala Lumpur, design and construct, the effects of year in a row in which the tallest building to Malaysia, were tied for seventh place, with complete in that year is in China. five completions each (see Figure 6). Oceania – 1 (0.7%) Key Worldwide Market Snapshots of 2018 Another standout achievement was for South America – 3 Europe – 1 (2.1%) (0.7%) Bangkok, which recorded three Asia (Not including Middle East) completions, including the city’s and Middle East and Africa – 13 (9.1%) With 109 buildings, representing 76 Thailand’s new tallest building, Magnolias percent of the total, Asia remained at the top Waterfront Residences Tower 1, at 315 North America – 16 of the rankings in 2018, recording slightly meters, just edging past the incumbent (11.2%) fewer than its 2017 total of 113 buildings of at 314-meter King Power MahaNakhon. least 200 meters in height (see Figure 3). For the 23rd year in a row, China has maintained Breaking the 400-meter mark for the first Asia – 109 (76.2%) its reign as the most prolific country when it time, Vietnam recorded the completion of comes to the construction of 200-meter-plus- Vincom Landmark 81 in Ho Chi Minh City, tall buildings, with 88 completions in 2018, a 461-meter building, which ranks as the for 61.5 percent of the total. This is a record second-tallest building to complete for China, exceeds last year’s figure by eight, worldwide in 2018. Figure 3. Buildings 200 meters or taller completed in 2018 by region. 2 88 86 80 69 68 39 25 23 22 22 20 20 16 14 14 13 12 11 9 7 6 6 4 4 3 2 2 1 China 2018 88 86 80 69 68 8 5 4 4 4 3 3 3 2 2 2 Europe 1 1 1 1 1 1 1 1 1 1 2018 Yearly 200-meter-plus Tall Building Completions, By Region/Country 88 86 80 39 23 decisions made now will not substantially affect skyscraper completion rates for several 17 69 68 years. Although 2018 was a banner year for 15 13 skyscraper projects in the country, it is likely 12 12 88 1025 10 10 that coming years will register the effects of 86 9 8 23 8 7 22 22 increased financial controls and more 20 20 conservative debt financing policies. If 3 3 80 2 1 1 1 16 theseMiddle policies continue, East China’s seemingly 14 14 13 limitless dominance of the tall building 12 2018 11 world may begin to falter. It can also be 9 7 69 expected that any tariffs imposed against 6 6 68 4 4 China would lead to disruptions in the 3 2 2 39 global construction industry, particularly 1 China concerning steel, as well as in China itself. 2018 The ability of Chinese banks and developers to fund overseas projects could be further 15 reduced; overseas investment has already 11 11 25 been strongly curtailed during 2018, 9 9 23 8 228 22 7 resulting in the cessation, sale, or 6 6 6 20 20 6 6 5 5 5 5 4 4 4 4 interruption of Chinese investor-driven 3 3 3 3 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 162 projects in Australia, the United States, 11 1 11 1 1 1 1 1 1 1 1 1 1 391 North America 14 14 13 and elsewhere. 12 11 9 7 Middle East and Africa 6 6 4 4 The Middle East performed better in 2018 3 2 2 1 25 thanChina in the previous year, logging 13 23 8 22 22 completions, against nine for the region in 2018 20 20 5 2017. This represents 9.1 percent of the 4 4 4 China Current Total: 686 3 3 3 2 2 2 globalEurope total. Dubai, in particular, bested its 1 1 1 1 1 1 1 1 1 16 131 14 14 three completions in 2017, with 10 in 2018, 10 10 13 10 9 9 12 2018 8 11 putting it in second place for 200-meter- 9 7 6 6 6 plus completions among cities.
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