The number one spot goes to DUBAI 2020 High Rise Builds – HULT Private Capital

Dubai city has taken the number one spot for high rise developments in 2020

The city of Dubai is synonymous with winning international accolades and has once again won another – The highest rise builds in 2020.

Dubai topped the list beating the main competition China according to the Council on Tall Buildings and Urban Habitat’s Review 2020 Year report. Real estate is the backbone of most economies and the UAE knows how to thrive, completing 12 buildings in 2020, all taller than 200 meters which is the minimum eligible height required to feature. A feat quite outstanding considering the difficulties 2020 presented.

Dubai manages to beat Shenzhen’s winning streak with 12 new breathtaking structures. Shenzhen had previously topped the list from 2016-2019 and this is the first time Dubai has overtaken Shenzhen for the number one position since 2010 when Dubai delivered the majestic Burj Khalifa the current tallest building in the world (Downtown Dubai District).

From the developments completed in Dubai last year, Standing at 336 meters high (the tallest) was the SLS Tower in Business Bay.
The SLS building is now the 11th tallest building in the world.

Dubai, well known as an investment savvy city completed many of the 2020 high rise, five-year development plans from strong investment in the emirate’s property market in 2015 something investment company HULT Private Capital is familiar with.

For investors, it is key to note the upward swing in the number of high rise developments completed in the emirates in 2020, negates global trends.

Globally last year there was a decrease in the number of skyscrapers built with 106 in 2020 down from 133 in 2019. The Chinese city Shenzhen saw a 50% drop in incompletions, from 18 in 2019 down to nine in 2020. Despite this, China has remained dominant, constructing more than half of the buildings in the review – a grand staggering total of 56. The UAE came second with country-wide builds, followed by the United States and the United Kingdom, India taking the fifth position.

London entered the list of top ten cities for the first time taking eighth place, with four new builds, three of which were in the financial district of Canary Wharf. For the first time since 2014 a building outside of china, Central Park Tower in New York City, measuring 472 meters came in as the tallest building on the list.

For more information on Property Developments and Investments Contact HULT Private Capital.

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