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
0

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


Abu Dhabi Commercial Bank picks Barclays to advise on merger

Updated 15 November 2018
0

Abu Dhabi Commercial Bank picks Barclays to advise on merger

  • Potential merger involves ADCB, Union National Bank (UNB) and Al Hilal Bank
  • A merger of the trio could create an entity with around $113 billion in assets

ABU DHABI: Barclays has been appointed by Abu Dhabi Commercial Bank (ADCB) to advise on a potential merger plan involving Union National Bank (UNB) and Al Hilal Bank, banking sources told Reuters.
The merger, announced by the banks in September, is the latest consolidation among state-owned companies in the United Arab Emirates’ (UAE) capital.
ADCB, majority owned by the Abu Dhabi government and the second largest bank in the emirate after First Abu Dhabi Bank (FAB), declined to comment. Barclays also declined to comment.
If it goes ahead, a merger of the trio could create an entity with around $113 billion in assets, according to Refinitiv data, and the UAE’s third-biggest lender after FAB and Emirates NBD.
A separate source said two banks could be created out of the consolidation, with the conventional banking units of ADCB and UNB merging to create one lender.
Another could be formed through combining the Islamic banking units of ADCB and UNB, along with Al Hilal.
AlKhaleej newspaper reported the same arrangement was being considered last month, citing sources.
The tie-up was at an early stage, UAE Central Bank governor Mubarak Rashed Al-Mansoori told reporters last week on the sidelines of a conference, adding he expected more consolidation in the future.
FAB was created by last year’s merger between National Bank of Abu Dhabi and First Gulf Bank.
The emirate of Sharjah is weighing a merger between three of its banks — Bank of Sharjah, Invest Bank and United Arab Bank, Reuters reported in September, citing sources.