A view of Dubai's Burj Khalifa, the world's tallest tower, in the centre of the Downtown Dubai district. Emaar
A view of Dubai's Burj Khalifa, the world's tallest tower, in the centre of the Downtown Dubai district. Emaar
A view of Dubai's Burj Khalifa, the world's tallest tower, in the centre of the Downtown Dubai district. Emaar
A view of Dubai's Burj Khalifa, the world's tallest tower, in the centre of the Downtown Dubai district. Emaar

Dubai's Burj Khalifa named one of the world's most beautiful buildings


Sophie Prideaux
  • English
  • Arabic

Burj Khalifa already holds the title of the world’s tallest structure, and now it can add another accolade to its list, after being named among the world’s most beautiful buildings.

The Dubai landmark was named in a list looking at some of the most impressive structures from around the globe, compiled by global travel website Big 7 Travel.

The 828-metre skyscraper in Downtown Dubai came in at number 50, thanks to its triple-lobed footprint, which is modelled on the Hymenocallis flower, or spider lily.

“Not only is it the world’s tallest building, but it’s also 60 per cent taller than the world’s second-tallest building,” the website states.

Burj Khalifa was the only structure in the UAE to make the list, but there were plenty of other entries from across the Middle East.

Petra in Jordan, one of the New Seven Wonders of the World, came in at number 12 on the list, while Dome of the Rock in Jerusalem was named in ninth position.

  • 1. Taj Mahal, Agra (India)
    1. Taj Mahal, Agra (India)
  • 2. Palace of Versailles, Paris (France)
    2. Palace of Versailles, Paris (France)
  • 3. The Duomo, Florence (Italy)
    3. The Duomo, Florence (Italy)
  • 4. La Sagrada, Barcelona (Spain)
    4. La Sagrada, Barcelona (Spain)
  • 5. Osaka Castle, Kyobashi (Japan)
    5. Osaka Castle, Kyobashi (Japan)
  • 6. Hungarian Parliament Building, Budapest (Hungary)
    6. Hungarian Parliament Building, Budapest (Hungary)
  • 7. St Basil’s Cathedral, Moscow (Russia)
    7. St Basil’s Cathedral, Moscow (Russia)
  • 8. St Paul’s Cathedral, London (UK)
    8. St Paul’s Cathedral, London (UK)
  • 9. Dome of Rock, Jerusalem
    9. Dome of Rock, Jerusalem
  • 10. The Parthenon, Athens (Greece)
    10. The Parthenon, Athens (Greece)

Two of Istanbul’s famous mosques, Sultan Ahmed Mosque – commonly known as the Blue Mosque – and Hagia Sophia, also made the cut, coming in at numbers 15 and 21 respectively, while Afghanistan’s Blue Mosque made it to 23.

Topping the list, unsurprisingly, was India’s Taj Mahal, one of the world’s most recognisable landmarks. Paris’s Palace of Versailles was a close second, with The Duomo in Florence coming in at third. Barcelona’s La Sagrada Familia and Osaka Castle in Japan rounded out the top five.

Scroll through the gallery above to see the top 10 most beautiful buildings in the world.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Fixtures

Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am

Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am

Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am

Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight

Charlotte Gainsbourg

Rest

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Company%20profile
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Updated: August 05, 2021, 8:15 AM