Saudi Arabia, UAE claim some of the tallest skyscrapers completed in 2017

The United Arab Emirates have featured among the top 144 for the tallest skyscrapers completed in 2017. (Shutterstock)
Updated 08 January 2018
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Saudi Arabia, UAE claim some of the tallest skyscrapers completed in 2017

Cities in Saudi Arabia and the United Arab Emirates have featured among the top 144 for the tallest skyscrapers completed in 2017, according to a report filed by the Council for Tall Buildings and Urban Habitat.

The report placed the UAE in fourth, fifth and sixth place, with Marina 101 tower (425m), the Address Boulevard hotel (370m), and Ahmed Abdul Rahim Al Attar Tower (325m) claiming their positions respectively.

“With the help of these tall beautiful structures, Dubai creates new records and these in turn give Dubai global recognition... These tall structures help boost the real estate and tourism economy too, the two factors that majorly drive and effect the country’s GDP,” Imrann Nawab, director of sales, Gulf Sotheby’s International Realty, told Khaleej Times.

Saudi Arabia was placed at 124 and 144 for Al Rajhi Bank Tower (205m) and Al-Obeikan Hilton Tower Hotel (200m) skyscrapers respectively.

Turkey also featured in the report with Istanbul’s Skyland Office Tower (284m), Skyland Residential Tower (284m) and Metropol Tower Istanbul (280m) claiming the 20th, 21st and 25th spots respectively.

The top spot was occupied by China’s Ping An Finance Center which looms over the city of Shenzhen at 599m.

In the UAE, Dubai Creek Tower is under construction, which once complete, will reach a height of 928m.

And Saudi Arabia is currently building the Jeddah Tower, previously known as the Kingdom Tower, which aims to become the world’s tallest building by hitting the one-kilometer mark.
Middle East's tallest towers completed in 2017
Regional rank Overall rank Tower name City Height (m)
1 4 Marina 101 Dubai, UAE 425
2 5 The Address Boulevard Dubai, UAE 370
3 6 Ahmed Abdul Rahim Al Attar Tower Dubai, UAE 325
4 20 Skyland Office Tower Istanbul, Turkey 284
5 21 Skyland Residential Tower Istanbul, Turkey 284
6 25 Metropol Tower Istanbul Istanbul, Turkey 280
7 124 Al Rajhi Bank Tower Riyadh, Saudi Arabia 205
8 144 Al-Obeikan Hilton Tower Hotel Riyadh, Saudi Arabia 200


Danske Bank money laundering ‘giga scandal’ spreads to Britain

Updated 21 September 2018
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Danske Bank money laundering ‘giga scandal’ spreads to Britain

  • By 2013, the number of UK-registered customers in the branch’s non-resident portfolio had topped 1,000
  • Danske Bank Chairman Ole Andersen said that the lender had made an assessment of whether it violated any US laws
LONDON/COPENHAGEN: Danske Bank’s money laundering scandal spread on Friday as Britain’s National Crime Agency (NCA) said it is investigating the use of UK-registered companies.
“This is a giga scandal,” European Union Competition Commissioner Margrethe Vestager said, joining a growing chorus of calls for a clampdown on the billions of euros which are alleged to have been “washed” through European banks.
An NCA spokeswoman said the British agency was working with partners across government to restrict the ability of criminals to use UK-registered companies in money laundering.
British and Russian entities dominate a list of accounts used to make €200 billion ($236 billion) in payments through Danske Bank’s branch in Estonia between 2007 and 2015, many of which the bank said this week are suspicious.
By 2013, the number of UK-registered customers in the branch’s non-resident portfolio had topped 1,000, Danske Bank’s investigation revealed, ahead of clients from Russia, the British Virgin Islands and Finland.
As the scope of the alleged money laundering through Danske Bank has widened, investor concerns over the potential penalties it could face have increased, with particular focus on what action if any US authorities might take against the bank.
So far, the US has not said whether it is investigating, although Danske Bank Chairman Ole Andersen said that the lender had made an assessment of whether it violated any US laws. He has declined to share the bank’s conclusion of this.
“We need to do more to prevent money laundering from happening,” Vestager told reporters in Copenhagen following the resignation on Wednesday of Danske Bank CEO Thomas Borgen after an investigation commissioned by the bank exposed past control and compliance failings.
Borgen, 54, was in charge of Danske Bank’s international operations including Estonia between 2009 and 2012.
He said on Wednesday that he had been “personally cleared from a legal point of view” while Danske said its board had not breached their legal obligations.
The European Commission last week recommended banking supervision changes, including bolstering national authorities, but stopped short of setting up a new financial crime agency called for by the European Central Bank.
In a sign of the growing pressure on Danske Bank, which already faces criminal inquiries in Denmark and Estonia, the chief executive of CARE Danmark said on Twitter that the Danish charity had decided to end its relationship with the lender.
International aid charity Oxfam also called on Danish municipalities to cut ties with the bank, saying it has not been able to re-establish the trust of Danish citizens.
The mayor of Aalborg, Denmark’s third largest municipality, said he would discuss its partnership with Danske Bank at the next municipality committee meeting, but noted that there were only two banks in Denmark would be able to handle a municipality its size.
“Danske Bank has been involved in money laundering which is deeply reprehensible and outrageous but Nordea has been involved in tax havens, so the entire bank sector needs to clean up for us to have a trusting collaboration with the banks,” Thomas Kastrup-Larsen said.
Danske Bank’s tiny Estonian branch accounted for as much as 10 percent of group profit during the period when suspected money laundering was conducted via its operations there.