New York City remains No. 1, but China is catching up.
The soaring global economy of the last 20 years pushed the world's leading financial centers to enduring heights. Not their stock markets, which have collapsed, but their skylines.
All but two of the world's 20 tallest buildings (the 1,451 foot/442.264 meters Sears Tower and the 1,250 foot/381 meters Empire State Building) were built during this long bull market, according to Emporis, a global building-information company. Today the world's tallest cities reflect that growth.
New York City still stands tallest, with 35 towers over 700 feet/213.36 meters, more than any other city. But China is catching up. Hong Kong is No. 2 with 30 such towers, and Shanghai is No. 4 with 21 towers.
These cities have risen fast. In 1999, Shanghai completed the 1,380 foot/420.624 meters Jin Mao Tower. It was Shanghai's first building taller than 700 feet/213.36 meters ; since then the city has built 20 more.
No city in the world, however, has developed as explosively as Dubai. As oil wealth flooded the United Arab Emirates, the emirate of Dubai on the Persian Gulf poured money into construction, much as Houston had done decades earlier.
Today, Dubai is home to the world's tallest tower. The 2,684 foot/818.083 meters Burj Dubai was topped off in January of this year. The building is scheduled to open in the fall of 2009. It will be the world's tallest building by 1,000 feet/304.8 meters. The second-tallest building, Taipei 101 in Taiwan, is a comparatively modest 1,671 feet/509.320 meters.
With the rise of China and Dubai, Chicago is now No. 5. Shenzhen, the Chinese city just north of Hong Kong, is closing in.
A report, released this week from the Council on Tall Buildings and Urban Habitat, estimates that by 2020, the world's skylines will again be redrawn. By 2020, Taipei 101, currently the second-tallest building in the world, will be No. 20.
Dubai is determined to stay on top. After completing the Burj Dubai, it is planning the 3,280 foot/999.744 meters Nakheel Tower. Saudi Arabia hopes to build the 3,280 foot/999.744 meters Kingdom Tower. Both towers are very tentatively scheduled for completion in 2020--if the oil keeps flowing out and the dollars keep pouring in.
The foundations are already being laid for other super towers around the globe. In Shanghai, the 2,073 foot/631.850 meters Shanghai Tower will complete a trio of towers in the city's financial district, which currently includes the world's third-tallest building, the 1,614 foot/491.947 meters Shanghai World Financial Center.
In the U.S. both Chicago and New York are racing to build new super towers. New York's Freedom Tower, also known as World Trade Center One, will reach 1,776 feet/541.324 meters when completed. In Chicago, foundations are in place for the Chicago Spire, a planned 2,000 footer/609.6 meters that would allow the Windy City to remain the home of America's tallest tower.
But whether these skyscrapers will ever touch the clouds depends how quickly the economy turns around. Across the world, projects are grinding to a stop, as financing collapses or demand for hundreds of floors of office space in financial districts disappears. The Chicago Spire, the Nakheel Tower and Moscow's planned 2,008 foot/612.038 meters Moscow Tower have all been placed on hold in recent months.
No. 1: New York, N.Y.
Towers 1,000 feet (304.8m) and taller: 4
Towers 700 feet (213.36m) to 999 feet (304.495m): 31
Tallest: Empire State Building, 1,250 feet (381 m)
Despite the rise of China and the flood of oil wealth, no skyline matches New York's--with 35 towers over 700 feet (213.36m). That skyline will only grow more impressive as the new World Trade Center complex is completed in coming years. The Freedom Tower, at the heart of the complex, will be the city's tallest building, at 1,776 feet (541.324 m) when completed.
No. 2: Hong Kong
Towers 1,000 feet (304.8m) and taller: 5
Towers 700 feet (213.36m) to 999 feet (304.495m): 25
Tallest: Two International Finance Centre, 1,362 feet
(415.137 m)
Hong Kong's skyline was built from the wealth generated by China's incredible size combined with Hong Kong's economic freedom. The Heritage Foundation's 2009 Index of Economic Freedom ranks Hong Kong the freest in the world. Finance towers include the city's tallest building, Two International Finance Centre, and I.M. Pei's famous Bank of China building
No. 3: Dubai, United Arab Emirates
Towers 1,000 feet (304.8m) and taller: 8
Towers 700 feet (213.36m) to 999 feet (304.495m): 17
Tallest: Burj Dubai, 2,684 feet (818.083 m)
The most visible consequence of the American thirst for foreign oil is the skyline of Dubai. Oil wealth fueled the construction of the city's enormous skyscrapers. Dubai is now home to the world's tallest building, the topped-out but not-yet-completed Burj Dubai, which is 1,000 feet (304.8 m) taller than any other building in the world.
No. 4: Shanghai, China
Towers 1,000 feet (304.8m) and taller: 3
Towers 700 feet (213.36m) to 999 feet (304.495m): 18
Tallest: Shanghai World Financial Center, 1,614 feet (491.947 m)
The rise of China can is apparent in Shanghai's skyline. A decade ago, the city's Jin Mao Tower was the only building over 700 feet (304.8m); today, 21 buildings taller than 700 feet (304.8m) dot the skyline. And the current crop of buildings are tiny compared with the planned Shanghai Tower. Expected to be completed in 2014, the tower will climb over 2,000 feet (609.6 m).
No. 5: Chicago, Ill.
Towers 1,000 feet (304.8m) and taller: 5
Towers 700 feet (213.36m) to 999 feet (304.495m): 12
Tallest: Sears Tower, 1,451 feet (442.264 m)
New York and Chicago have always battled for skyline supremacy. Currently, Chicago's Sears Tower is the country's tallest building, a title it will lose upon completion of New York's planned Freedom Tower. Not to be outdone, Chicago hopes to construct the Chicago Spire first; it's planned to be 224 feet (68.27 m) taller than Freedom Tower.
No. 6: Shenzhen, China
Towers 1,000 feet (304.8m) and taller: 1
Towers 700 feet (213.36m) to 999 feet (304.495m): 12
Tallest: Shun Hing Square, 1,260 feet (384.048 m)
The city of Shenzhen, immediately north of Hong Kong, was the primary hub for economic activity between Hong Kong and mainland China when Hong Kong was a British colony. The city's economic success is due in part to its status as a Special Economic Zone--it benefits from a more relaxed economic framework than most of the country.
No. 7: Tokyo, Japan
Towers 1,000 feet (304.8m) and taller: 0
Towers 700 feet (213.36m) to 999 feet (304.495m): 11
Tallest: Mid Town Tower, 813 feet (247.802m)
Are there still skyscrapers after property bubbles? In Tokyo, the answer is yes. Although its stock market never returned to its 1989 level, following the collapse of the Japanese asset bubble, the city's skyscrapers have continued to rise. The tallest, the Mid Town Tower, was completed in 2007.
No. 8: Houston, Texas
Towers 1,000 feet (304.8m) and taller: 1
Towers 700 feet (213.36m) to 999 feet (304.495m): 9
Tallest: JPMorgan Chase Tower, 1,002 feet (305.409m)
Houston's skyline is from a different time--its tallest buildings went up in the 1970s and 1980s, the end of an era when Texas oil production was booming. It's been more than 20 years since Houston has built a tower over 700 feet (213.36m).
No. 9: Singapore
Towers 1,000 feet (304.8m) and taller: 0
Towers 700 feet (213.36m) to 999 feet (304.495m): 10
Tallest: Republic Plaza; UOB Plaza One; and OUB Centre, each 919 feet (280.1m)
The island city-state of Singapore squeezes a world-class skyline onto a mere 263 square miles. Two of its tallest buildings, the Overseas Union Bank Centre and United Overseas Bank Plaza One--hint at Singapore's source of wealth as a trade and financial hub.
No. 10: Los Angeles, California.
Towers 1,000 feet (304.8m) and taller: 1
Towers 700 feet (213.36m) to 999 feet (304.495m): 7
Tallest: US Bank Tower, 1,018 ft (310.286m).
America's second-largest city will not be challenging the skylines of Chicago or New York any time soon. It's been nearly two decades since Los Angeles built a tower over 500 feet (152.4m). The city's tallest building, the US Bank Tower, turns 20 this year.