Latest news with #skyscraper
News.com.au
11 hours ago
- Business
- News.com.au
Huge update on Saudi Arabia's skyscraper 'utopia'
Saudi Arabia is drawing a line in the sand under the soaring costs of its ambitious 'Line' skyscraper gigaproject. It's a building project worthy of the kings of ancient Persia: A 170km long mirrored skyscraper cutting a swathe through the Tabuk Desert in northwestern Saudi Arabia. The great residential wall is Crown Prince Mohammed bin Salman Al Saud's flagship project. It's supposed to define a future beyond the nation's dependence on crude oil. It's about technology. It's about architecture. It's about a new way of life. It's also about tourism, manufacturing and surveillance. Not to mention housing the world's richest and most ambitious in a glistening technocratic utopia. The project was first announced in 2021. Since then, billions of dollars have been spent on moving mountains of sand in preparation for laying the foundations of the much-hyped 'ecologically sensitive' city. But there are problems. Oil prices have remained stubbornly low. But costs keep spiralling. And that's introduced Saudi Arabia to something new: a tight national budget. Neom's new chief executive officer, Aiman Al-Mudaifer, has hired some of the world's most expensive consulting firms to engage in a strategic review of the gigaproject. Is it viable? Is it practical? What can be done to rein in costs? In April, financial consultancy Goldman Sachs told its clients that Saudi Arabia was facing 'pretty significant' budget deficits. Now, a new Bloomberg report says consultants have been hired to propose potential cost-cutting changes to the gigaproject's design. But this is the Crown Prince's Vision 2030 plan. He gets a royal veto. A matter of scale The Line's chief operating officer, Giles Pendleton, is upbeat about progress: 'THE LINE is taking shape at an incredible pace and something I'm incredibly proud of,' he posted to social media. But Crown Prince Mohammed bin Salman wants 1.5 million people living inside his glittering city by 2030. It was always an ambitious goal. Only 2.5 km of the 170 km long structure is currently under construction. Once completed, it will be capable of housing some 300,000. Now, even that appears to be overly ambitious. The Financial Times reported in April that a 'comprehensive review' of the project had been initiated amid fears the centrepiece of the Line's first segment – the NEOM stadium – wouldn't be ready in time for the 2034 FIFA World Cup. So can the world's top consultancy firms save the day? Initial ideas include reducing its proposed height to 500m, further shortening the length of the first component, and abandoning its proposed iconic mirrored exterior. But whether or not any of these recommendations are adopted is a matter of royal prerogative. The Line, as with the remainder of the NEOM desert technohub concept, is widely regarded as the Crown Prince's vanity project. 'We need to transform the concept of a conventional city into that of a futuristic one,' he stated during the gigaproject's launch. 'Today, I present to you The Line … that preserves 95 per cent of nature within NEOM, with zero cars, zero streets and zero carbon emissions.' It's about status. It's about making a personal mark on history. The Crown Prince wants to build the world's largest building (the Mukaab), the world's tallest skyscraper (the 1km high JEC Tower), and a series of spectacular (and landscape-changing) desert holiday resorts. No matter the cost. So far, that's been about $A77 billion. Income versus expenditure 'There's nothing ordinary about building THE LINE and nothing ordinary about the people bringing it to life,' Pendleton boasts. The potential total bill for the entire NEOM gigaproject has been calculated at $A2.5 trillion. And there are also allegations that it has already cost 21,000 construction worker lives. Now, labour is getting more expensive. And Saudi Arabia's budget, to which oil still contributes about 61 per cent, is suffering under the global shift toward renewable energy. With oil prices lingering at about $US70 a barrel, the Crown Prince's expectations may have to be curtailed. Analysts say Saudi Arabia needs oil prices to be consistently above $US100 a barrel if it is to have any chance of paying for the building projects. That's looking increasingly unlikely. Russia has been dumping its oil on international markets in sanction-busting 'dark fleet' moves. And other OPEC+ nations have been less than willing to participate in price-raising production cuts. So Saudi Arabia in April accused Iraq and the United Arab Emirates of 'cheating', and announced an increase to its own output. This further puts downward pressure on international oil prices. The Line was projected to contribute $75 billion to Saudi Arabia's national budget by 2030, providing approximately 380,000 full-time and high-tech jobs.
Yahoo
2 days ago
- Business
- Yahoo
OKC Legends Tower developer says 'there's more to come.' What we know about the project
A project planned for Bricktown in Oklahoma City has drawn worldwide attention, thanks to the promised inclusion of what would be the tallest skyscraper in the United States. The four-tower development, the Boardwalk at Bricktown, was briefly mentioned in Greater Oklahoma City Chamber Chair Teresa Rose's opening remarks at the State of the City, as she touted what a future in Oklahoma City could look like. Construction on the first phase — consisting of two apartment towers sitting atop a parking and retail podium, and a 22-story Hyatt Dream Hotel — could begin later this year, developer Scot Matteson told The Oklahoman. However, it's the planned second phase that has attracted the excitement: Legends Tower, a 1,907-foot-tall skyscraper that would be the tallest building in the nation. There has been plenty of skepticism on whether or not the tower will actually be built, along with criticism from the Federal Aviation Administration, but Matteson said he is "working through the issues" to mitigate concerns about the building's height. But, Matteson also said there has been talk about "doing more" and expanding the project. "There's more to come, that's all I can say," Matteson told The Oklahoman Thursday. What is Legends Tower? If built as planned, the 1,907-foot-tall Legends Tower would be the fourth tower at the Boardwalk at Bricktown, and the tallest in the country, surpassing the One World Trade Center's 1,776 feet. First announced in 2023, the tower would consist of apartments and a hotel. Is Legends Tower still being built in OKC? Matteson has yet to file building permits with the city, but he told The Oklahoman at the end of 2024 that the project is fully financed. He confirmed Thursday that all financial commitments have been signed. As for permits, he said he has received the disturbance permit which is the first step towards building the underground parking garage and installing utilities. Matteson said there are a few more conditions he needs to satisfy before being ready to apply for building permits, such as completing a parking study, but he said he still plans to begin construction later this year. Will Legends Tower pose an air hazard? Despite the excitement from many about the prospect of the tower, others have expressed concerns about its safety. The Federal Aviation Administration opposes the tower's height, after local airports, pilots and at least one airline warned it would jeopardize flight operations in the area. Julie Morgan, manager of the FAA's Obstruction Evaluation Group in Fort Worth, notified Matteson in a Dec. 4, 2024 letter that if the building is built at 1,907 feet high it will be a "hazard to air navigation." "The study disclosed that the described structure would have a substantial adverse effect on air navigation," Morgan wrote. "This determination becomes final on January 13, 2025, unless a petition is timely filed." Matteson told The Oklahoman he is "working through the issues" with the FAA and local and state authorities to mitigate concerns. With the tallest tower being part of phase 2, Matteson said "we have time to work through those issues." As for the planned height of the tower, Matteson said "we haven't changed anything, not yet anyway." Contributing: Steve Lackmeyer, The Oklahoman This article originally appeared on Oklahoman: What's going on with OKC Legends Tower? Developer says 'more to come' Solve the daily Crossword
BBC News
2 days ago
- Business
- BBC News
Salford Council defers decision on skyscraper plans
A decision on whether to approve plans to build one of the UK's tallest skyscrapers in Salford has been deferred. Councillors earlier voted for the move in order to get more information regarding concerns around the £1bn project, which could see as many as 3,300 homes being built across 10 buildings at Regent Retail Park in would include a tower that could stand 895ft (273m) and up to 78 storey high - the biggest in Greater Manchester and one of the tallest in the country, behind the Shard and Horizon 22, both in nearby residents and councillors have objected to the scheme, saying the area of Ordsall is already under pressure and would struggle to cope with thousands of new people. One objector told Thursday's meeting it could currently take four weeks to see a GP in the local area of Ordsall."There was one resident we know who had a cough but she could not get an appointment for three weeks – she had to go to A&E for emergency treatment," they said. They also said congestion was already a "major problem". Salford MP Rebecca Long-Bailey said the scheme would create a "complete new town in the sky" which would "not be out of place in downtown Manhattan". She said: "There were no new proposals for GPs, no new school places, and no new dentists in one of the most deprived areas in the city, an area already struggling." Affordable housing was also a concern raised at the meeting, with planning reports showing creating affordable homes in the scheme was not the developer has offered the council 20% affordable housing through negotiations on the lease on the told the meeting they needed more information on affordable housing options as well as the impact the development would have on parking and transport. The deferral means the plans will come back to the planning committee at a later date. Listen to the best of BBC Radio Manchester on Sounds and follow BBC Manchester on Facebook, X, and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.
CNN
4 days ago
- Business
- CNN
Singapore's most famous landmark is undergoing an $8 billion expansion
With three 650-foot-tall skyscrapers connected across the top by a boat-like skybridge — and an Instagram-famous infinity pool — Marina Bay Sands has given Singapore one of Asia's most recognizable skylines since opening in 2011. So, when the resort's original architect was invited to design a new, fourth tower for the site, his brief from the country's government was clear: Don't mess with a national symbol. 'The (Urban Redevelopment) Authority repeatedly said, 'This is our icon; our people of Singapore love this, and we cannot do anything that's going to compromise it,' said Israeli architect Moshe Safdie, referencing the country's urban planning agency. 'And that was very much on our minds, as well: How to make something that has its own identity but is very complementary.' The 87-year-old said he only entertained the idea of extending the complex's soaring skybridge to meet the fourth tower 'for a few minutes.' Instead, his new 55-floor skyscraper, which broke ground on Tuesday, sits apart from its famous neighbors on an adjacent plot of land. Connecting the towers would have 'really compromised the existing scheme and spanning across just seemed unwise,' Safdie said, comparing his new high-rise to the dot of an exclamation point. 'It would be just more of the same, whereas we really wanted to create something.' The $8-billion expansion plan is a testament to the commercial success of Marina Bay Sands, which contains a hotel, mall, convention center and one of only two licensed casinos in the southeast Asian city-state. The US hospitality giant behind the resort, Las Vegas Sands, said the property attracted 38 million visitors and 2.19 billion Singapore dollars ($1.7 billion) in business spending last year alone. Safdie's new tower will expand the hotel's capacity by 570 suites, while adding more luxury retail and meeting space. The architect's eponymous firm has also designed an adjoining entertainment venue for the site. When the Massachusetts-based architect unveiled initial plans for the expansion in 2019, this 15,000-seat venue was situated on the far side of the fourth tower. But about a year ago, with progress stalled by Covid-19-related delays, Safdie proposed 'flipping' the scheme, lodging the arena between the new skyscraper and the original three — and in turn extending the distance between them. 'I came to the conclusion that it just didn't feel right, and that there (wasn't) enough space between the towers,' he explained. 'It meant a lot of reworking of the access and transportation … (but it) was a quantum jump improvement.' The architect nonetheless wanted to create a consistent design language for the complex. For one, the new building's boat-like roof — dubbed 'Skyloop,' it will host an observation deck, restaurants and public gardens, as well as cabanas and infinity pools for hotel guests — clearly nods to the original structure's iconic roof. 'The buildings look related,' Safdie said. 'They're in the same family.' At Tuesday's groundbreaking ceremony, Singaporean Prime Minister Lawrence Wong joined Safdie on stage to mark the start of construction with a symbolic shoveling of sand. Addressing guests at the event, Wong said the new structure 'will refresh our skyline.' The final design was, however, met with mixed reviews among Singaporeans online. On social media platform Reddit, the new tower was accused of being 'out of place' and sticking out 'like a sore thumb,' while being compared to a 'huge dehumidifier' or a 'fourth person lurking' next to its three neighbors. Other users were more sympathetic, suggesting that the tower will eventually 'blend in naturally' with the other skyscrapers being planned in the district — which was built on 660 hectares (1,631 acres) of land reclaimed from the Singapore Strait — over the coming decades. 'When it's all said and done, people will feel it's always been there,' Safdie argued. 'And they will love it as much as they love this building, if not more, because I think the sum total of the two together is greater than the individual parts.'
CNN
4 days ago
- Business
- CNN
Singapore's most famous landmark is undergoing an $8 billion expansion
With three 650-foot-tall skyscrapers connected across the top by a boat-like skybridge — and an Instagram-famous infinity pool — Marina Bay Sands has given Singapore one of Asia's most recognizable skylines since opening in 2011. So, when the resort's original architect was invited to design a new, fourth tower for the site, his brief from the country's government was clear: Don't mess with a national symbol. 'The (Urban Redevelopment) Authority repeatedly said, 'This is our icon; our people of Singapore love this, and we cannot do anything that's going to compromise it,' said Israeli architect Moshe Safdie, referencing the country's urban planning agency. 'And that was very much on our minds, as well: How to make something that has its own identity but is very complementary.' The 87-year-old said he only entertained the idea of extending the complex's soaring skybridge to meet the fourth tower 'for a few minutes.' Instead, his new 55-floor skyscraper, which broke ground on Tuesday, sits apart from its famous neighbors on an adjacent plot of land. Connecting the towers would have 'really compromised the existing scheme and spanning across just seemed unwise,' Safdie said, comparing his new high-rise to the dot of an exclamation point. 'It would be just more of the same, whereas we really wanted to create something.' The $8-billion expansion plan is a testament to the commercial success of Marina Bay Sands, which contains a hotel, mall, convention center and one of only two licensed casinos in the southeast Asian city-state. The US hospitality giant behind the resort, Las Vegas Sands, said the property attracted 38 million visitors and 2.19 billion Singapore dollars ($1.7 billion) in business spending last year alone. Safdie's new tower will expand the hotel's capacity by 570 suites, while adding more luxury retail and meeting space. The architect's eponymous firm has also designed an adjoining entertainment venue for the site. When the Massachusetts-based architect unveiled initial plans for the expansion in 2019, this 15,000-seat venue was situated on the far side of the fourth tower. But about a year ago, with progress stalled by Covid-19-related delays, Safdie proposed 'flipping' the scheme, lodging the arena between the new skyscraper and the original three — and in turn extending the distance between them. 'I came to the conclusion that it just didn't feel right, and that there (wasn't) enough space between the towers,' he explained. 'It meant a lot of reworking of the access and transportation … (but it) was a quantum jump improvement.' The architect nonetheless wanted to create a consistent design language for the complex. For one, the new building's boat-like roof — dubbed 'Skyloop,' it will host an observation deck, restaurants and public gardens, as well as cabanas and infinity pools for hotel guests — clearly nods to the original structure's iconic roof. 'The buildings look related,' Safdie said. 'They're in the same family.' At Tuesday's groundbreaking ceremony, Singaporean Prime Minister Lawrence Wong joined Safdie on stage to mark the start of construction with a symbolic shoveling of sand. Addressing guests at the event, Wong said the new structure 'will refresh our skyline.' The final design was, however, met with mixed reviews among Singaporeans online. On social media platform Reddit, the new tower was accused of being 'out of place' and sticking out 'like a sore thumb,' while being compared to a 'huge dehumidifier' or a 'fourth person lurking' next to its three neighbors. Other users were more sympathetic, suggesting that the tower will eventually 'blend in naturally' with the other skyscrapers being planned in the district — which was built on 660 hectares (1,631 acres) of land reclaimed from the Singapore Strait — over the coming decades. 'When it's all said and done, people will feel it's always been there,' Safdie argued. 'And they will love it as much as they love this building, if not more, because I think the sum total of the two together is greater than the individual parts.'
