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The High-Rise Building CREDIT SUISSE Bulletin 2015 / 5 magazine. banking oldest world’s e Th . 1895 Since Exclusively in this issue: Credit Suisse 2015 Worry Barometer #CSsoba Th e High-Rise Building Architecture, Growth, Density: Th e Eternal Pursuit of Size OYSTER PERPETUAL GMT-MASTER II IN 18 CT WHITE GOLD bucherer.com 15_0010_BUC_Ins_Bulletin3.indd 1 19.10.15 09:42 — Editorial — 2 3 4 1 Objects of Desire Contributors to this issue include ollywood is fond of skyscrapers as a setting for its movies – whether it’s King Kong climbing the Empire State Build- H ing, the US Army destroying the Chrysler Building (Godzilla) or Tom Cruise scaling the side of Dubai’s Burj Khalifa 1 Simon Kuper (Mission: Impossible). Batman, Sleepless in Seattle, Blade Runner: A British writer who studied German and Skyscrapers play a key role in every one. history at Oxford and Harvard, Kuper is an Blockbuster movies explore life’s big issues: rises and falls, power expert on football and equally interested in and corruption, love and hatred. Th e high-rise serves as both backdrop the intersection of sports, culture and history and projection screen, making it a compelling symbol for an ambivalent – a topic he discusses in his award-winning books. Kuper examines the question of why modern age. the buildings in his adopted city of Paris are so low, and looks at how the city plans to grow t plays a similar role in real life, too, and thus also in this issue of upward. Page 38 Bulletin. Th ese imposing buildings, made of steel and glass, are one I solution to increasing urbanization and growing population density, 2 Chris Dent as our interview with city planner Kees Christiaanse (page 34) shows – Dent, 31, grew up outside of London. As an but they can also promote ghettoization, as explained in our report from illustrator, he is particularly interested in the the “elefante blanco” in Argentina (page 44) and our interview with slum history and architecture of New York City. expert Eugenie L. Birch (page 48). Skyscrapers are a good investment, He was an ideal choice to create our fold-out panoramic drawing of the tallest and most im- but only when they do not exceed a certain number of fl oors, according portant high-rise buildings in history. Page 32 to Credit Suisse’s Real Estate Research (page 12). Ultimately, however, high-rise buildings are always objects of desire – but they can also send 3 Edwin Heathcote a shiver down your spine. Th is is how Edwin Heathcote, architecture Heathcote, who is an architect and author as critic for the Financial Times, describes them in his lively essay (page 6). well as the architecture critic for the Financial Times, investigates these questions: Why his issue concludes with the Credit Suisse Worry Barometer, have people always wanted to build upward? which has surveyed the Swiss population for the past 39 years What did high-rise buildings signify in the to provide a unique look at how people in Switzerland are doing past, and what do they mean today? Page 6 T from one year to the next. Th ree fi ndings from this year’s survey: Th e 4 Alejandro Kirchuk overwhelming majority of Swiss citizens are proud of their country, and Photographer Kirchuk, 28, who lives in they consider Switzerland’s neutrality to be its greatest strength. Asked Buenos Aires, the city where he was born whether they personally are doing well, 86 percent say yes. Th e new pres- and raised, has won a variety of prestigious ident of the National Council, Christa Markwalder (FDP), analyzes the awards. Not only did he contribute the pho- survey’s political results; Urs Rohner, chairman of the Credit Suisse tographs for our report from the slums of Board of Directors, discusses its economic fi ndings. his home city, he also made sure that our re- porter, Andreas Fink, was able to gain access Your editorial team to the “forbidden city.” Page 44 Cover photo: Cayan Tower in Dubai. Th e skyscraper is 306 meters tall and is exclusively residential. Photo: Victor Romero Bulletin 5 / 2015 — 1 A solid foundation allows you to reach great heights. Since 1938, customers around the world have valued the expertise of our Real Estate ,QYHVWPHQW0DQDJHPHQW<RXWRRFDQEHQHƟWIURPRXUH[WHQVLYHSURSHUW\LQYHVWPHQW know-how. We meet the needs of both small and institutional investors with a broad UDQJHRIVROXWLRQVEDFNHGE\DSURYHQWUDFNUHFRUG credit-suisse.com/ch/realestate ,PSRUWDQWLQIRUPDWLRQ7KLVQRWLFHGRHVQRWFRQVWLWXWHDQRIIHURUDUHFRPPHQGDWLRQWREX\RUVHOOƟQDQFLDOLQVWUXPHQWVRUEDQNLQJVHUYLFHVDQGGRHVQRWUHOHDVHWKHUHFLSLHQWIURPH[HUFLVLQJKLVKHURZQMXGJPHQW &RS\ULJKWk&UHGLW6XLVVH*URXS$*DQGRULWVDIƟOLDWHGFRPSDQLHV$OOULJKWVUHVHUYHG3LFWXUH+DUU\*XJJHU6WXGLR — High-rise — Contents 6 Towering 32 Aiming High Achievements Fold-out: Th e world’s 50 most Vertical important high-rise buildings structures are and their predecessors. a manifestation of human culture. 34 “A Patchwork” Urban planner Kees Christiaanse 12 Billion-Dollar Buildings tells us what Asia can learn from Th e economics of Europe – and vice versa. building a high-rise. 38 A Matter of Height 15 High-rises before the Fall Two Swiss architects are building What recessions and a tower in Paris, a city with skyscrapers have in common. remarkably few skyscrapers. 16 “Th at only happens in movies” 43 My Bird’s-eye View Th omas Oetterli, CEO What’s it like to work in of the Schindler Group’s China Zurich’s tallest building? division, talks about elevators. Credit Suisse 44 Buenos Aires’ White Elephant Worry Barometer 2015 20 On the Rooftops of the World Struggling to survive in a #CSsoba Nature, recreation and sports at slum in Argentina’s poorest dizzying heights. neighborhood. 1. WHAT THE SWISS ARE WORRIED ABOUT – 52 48 Th e Voice of the UN Eugenie L. Birch talks about 2. CONFIDENCE AND slums and urban growth. STRENGTHS – 55 CHRISTA MARKWALDER INTERVIEW – 57 3. THE ESSENCE OF SWITZERLAND – 60 THE INSIDER’S Glass, Glass and More Glass 4. 26 VIEW – 64 Skyscrapers are modern – but not particularly environmentally 5. LOOKING OUTWARD – 66 friendly. Th at’s going to change. URS ROHNER 28 Big Th ings from Denmark INTERVIEW – 69 Architect Bjarke Ingels, sometimes called a modern-day THE LAST PAGE: BRIGHTER Le Corbusier, is infl uencing DAYS AHEAD! – 72 an entire generation. Photos: Stephen King Photography / iStock; Munshi Ahmed / Bloomberg / Getty Images; Roderick Aichinger; Mark Henley Bulletin 5 / 2015 — 3 — High-rise — Comments Service C REDIT SUISSE C REDIT SUI SSE Bulletin Bulletin 015 015 2 2 / / 3 4 WWithth CCreddit S Suiss magazine. magazine. sse YYout uthhBar rom meterr 22015 banking banking 15 #jujubaba15 oldest oldest world’s world’s e e Th Th Th . Th . 5 895 1 189 ince ince S S Subscribe to Credit Suisse’s Bulletin Bulletin Decisions Africa Rise of a Continent Bulletin Th e Art of Doing the Right Thing “Decisions,” 4/2015 “Africa,” 3/2015 free of charge! “Practical advice” Excellent www.credit-suisse.com/bulletin Absolutely top-notch! Practical advice Th is issue of Bulletin was outstanding! on communicating in relationships and Ellen Ringier, Zurich at work. Th ank you. We welcome all letters from readers. Th e editors reserve the right to select and edit Hans-Beat Zangerl, St.Gallen the letters. Write to us at: Not Just a Run-of-the-Mill Email: [email protected] PR Publication Address: Credit Suisse AG, Interesting Topic I just put down my copy of Bulletin, Bulletin Editorial Team, I happened to come across the latest after reading it from cover to cover, GCPA, CH-8070 Zurich issue of Bulletin, “Decisions.” and would like to congratulate you on A very interesting topic, with another outstanding issue. As a Available in the App Store great articles – bravo! journalist, I hold your magazine to Th e News & Expertise app, Robert Akeret, Winterthur journalistic standards because of featuring the latest issue its consistently high quality. It’s not of Bulletin and other just a run-of-the-mill PR publication. Credit Suisse publications. Sometimes it seems that the media Useful and Entertaining want to report only on negative events Follow us! Th ank you for the latest issue of Bulletin and lose interest when situations on “Decisions – Th e Art of Doing the improve. Your article about Rwanda www.twitter.com/creditsuisse Right Th ing,” which was both useful is a welcome change. It might www.facebook.com/creditsuisse and fun to read. I appreciate the fact well be possible to put out another www.youtube.com/creditsuisse that Bulletin is sent to me automatically. issue on African topics such as www.fl ickr.com/creditsuisse Carl Bossard, Stans Nigeria, Libya, Eritrea, Mali, Sudan, Islam, albinos, etc. Even then, I suspect, there might be some Archive Back issues of Bulletin are available digitally: positive stories! www.credit-suisse.com/bulletin Georges Müller, Th alwil Publishing details: published by: Credit Suisse AG, project management: Daniel Huber, Mandana Razavi, PERFORMANCE content design, editing: Ammann, Brunner & Krobath AG (www.abk.ch), design concept, layout, production: neutral Craff t Kommunikation AG (www.craff t.ch), photo editing: Studio Andreas Wellnitz, Berlin, pre-press: n c ag Printed Matter No. 01-15-952825 – www.myclimate.org (www.ncag.ch), printer: Stämpfl i AG, circulation: 110,000 © myclimate – The Climate Protection Partnership 4 — Bulletin 5 / 2015 — High-rise — Who helped the Frescobaldi YLQH\DUGVȁRXULVK on foreign soil? )LQGRXWZKDWQHZZRUOGV&UHGLW6XLVVHFRXOG RSHQXSIRU\RXDWFUHGLWVXLVVHFRPIUHVFREDOGL Bulletin 5 / 2015 — 5 SHANGHAI WORLD FINANCIAL CENTER (China), 492 m, 101 stories — High-rise — Tow ering Photo: Mark Niedermann ections of human culture: Vertical structures are refl the pyramids of Egypt, Gothic cathedrals, contemporary skyscrapers. As new technologies make it possible to build ever taller buildings, the high-rise has gone from a site of commerce to a status symbol for the global elite.
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