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Report Reveals Upward Momentum in Tall Building Construction Globally, Accelerating Trends & 2024 Predictions

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Record-setting completions of buildings 200 meters and higher reflect resumption of pre-COVID construction

Chicago, Feb. 01, 2024 (GLOBE NEWSWIRE) — The Council on Tall Buildings and Urban Habitat (CTBUH) today released “Year in Review: Tall Trends of 2023,” the latest in its series of annual evaluations of the state of tall building construction across the globe. Eagerly anticipated by architects, engineers, real estate developers and professionals in a wide range of industries related to tall-building construction, the online report revealed higher-than-anticipated growth in the sector: a record-setting 175 buildings 200 meters and higher were completed in 2023—a 7.4% increase over 2018, when the next-highest number of completions (163) in that category was recorded.

The report also highlighted some new milestones in tall-building construction:

“The data in our report suggest a return to pre-pandemic growth in tall-building industries,” explained CTBUH CEO Javier Quintana de Uña. “This reflects the resumption of projects started before the global COVID outbreak, which were temporarily halted or delayed by the ensuing material shortages, inflation increases and other factors—but there is definitely upward momentum in the field.”

Some report findings run counter to popular perceptions: 94 buildings 200 meters and higher were completed in China last year; that’s more than eight times as many as in the United Arab Emirates, where there were eleven buildings 200 meters and higher completed in 2023, ranking it second in that category. China’s growth was led by twenty-seven 200-meter-plus completions in Shenzhen, which now hosts one out of every 14 of the world’s buildings over 200 meters.

“In addition to equipping professionals with a detailed analysis of accelerating trends in tall-building industries, including assessments by building function and material, the report allows users to develop hypotheses and test emerging scenarios,” continued Quintana de Uña. “The data allows CTBUH to make informed predictions for the coming year, too—this is how we help move the industry forward.”

For example, according to the report: “Of the buildings currently under construction or topped-out, 35 are supertalls (300 meters and higher); just 27 of those completing in 2024 would set a record, surpassing the 26 supertall completions in 2019 and indicating a return to the pre-COVID pace of skyscraper construction.”

The CTBUH Year in Review report derives from an annual audit of buildings in advanced stages of construction that are tracked in the organization’s extensive database of more than 40,000 tall buildings throughout the world, as well as projects submitted to its yearly awards program by CTBUH members and the general public.

The easy-to-use report also appeals to professionals outside traditional tall-building industries, students, and casual users, such as skyscraper enthusiasts.

William Maibusch, project executive at The Walsh Group in Seattle and guest lecturer in the civil engineering department at Columbia University, explained, “In addition to aiding the work I do professionally, the data presented in the CTBUH Year in Review reports are regularly included in my presentations to students, who consume it eagerly. They’re also remarkably straightforward and easily understood by people who aren’t necessarily well-versed in the business of designing and constructing tall buildings.”

Council on Tall Buildings and Urban Habitat 

The Council on Tall Buildings and Urban Habitat (CTBUH) is a global nonprofit organization dedicated to smarter, more sustainable cities and a more viable future for global populations. Specifically, CTBUH focuses on the critical role of density in addressing climate change. CTBUH is headquartered in Chicago and has offices in Shanghai, China, and Venice, Italy. CTBUH’s worldwide membership network includes companies from fields such as real estate development, architecture, engineering, cost consulting, building management and construction, among others. In addition to hosting leading industry events, CTBUH produces research and reporting on issues of significant consequence to its membership. Its most utilized asset is its building database, SkyscraperCenter.com, a compendium of detailed data, images and technical information on more than 40,000 tall buildings throughout the world. CTBUH is best known to the public for developing the international standards for measuring tall building height and is recognized as the arbiter of the “World’s Tallest Building” designation. For more information, please visit ctbuh.org.

CONTACT: Charles Mutscheller The Council on Tall Buildings and Urban Habitat [email protected]

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