More than 200 years ago, three English businessmen raised the then substantial sum of £17,000 to build a huge new mill on the outskirts of the market town of Shrewsbury.
The architect, Charles Bage, proposed a radical new design: instead of being supported by bricks, the walls and floors would be constructed of iron beams and columns, allowing the building to rise to a remarkable five storeys.
This lightweight construction allowed open floor spaces and airy windows, with the added advantage of being almost fireproof. And so, in 1797, the modern skyscraper was born.
At the time, the world’s tallest building was the 14th Century Strasbourg Cathedral and although Europe took the title of the tallest man made structure with the Eiffel Tower in 1889, it has never again claimed any world records.
As the New York cityscape was transformed by skyscrapers in the 1930s, Europe remained resolutely low rise.
The exception was the Soviet Union, where tall buildings were seen as a response to capitalist America.
The never-completed 495 metre high Palace of the Soviets, topped with a huge statue of Lenin but abandoned after the Second World War, is the ultimate expression of this ideology.
Today, most of Europe’s tallest buildings are still in Russia, with only London and Istanbul making the top ten.
Few of Europe’s cities have buildings that surpass 300 metres, meaning they are shorter than the Eiffel Tower.
Paris has the 231 metre Tour First and Frankfurt the 239 metre Commerzbank Tower.
In England, though, the flax mill at Ditherington, Shrewsbury still stands. Now a Grade 1 listed building, which ranks alongside the Tower of London and Buckingham Palace, the mill is currently undergoing renovation.
It is hoped to reopen next year as a historic monument, but also with office space to rent. The grandfather of the skyscraper is back in business.
*Source: Skyscrapercenter.com
Here are the 10 tallest buildings in Europe:
- Lakhta Centre, St Petersburg, 462 metres
- Federation Tower, Moscow, 373 metres
- OKO Residential Tower, Moscow, 354 metres
- Neva Towers, Moscow, 345 metres
- Mercury City, Moscow, 338 metres
- The Shard, London, 309 metres
- Eurasia Tower, Moscow, 308 metres
- Capital City Moscow Tower, Moscow, 301 metres
- (and 10) Skyland Residential and Office Towers, Istanbul, both 284 metres
1. Lakhta Centre, St Petersburg
Height: 462 metres
Completed in 2019, this is Europe’s tallest building and the world’s most northern skyscraper. A mixed use structure, it will become the HQ of energy giant Gazprom. Objections that it would overshadow St Petersburg's historic centre saw it moved far outside the city to the coastal Lakhda district, overlooking the Baltic sea. It was originally designed by Edinburgh-based RMJM, which also worked on Dubai's DIFC and Abu Dhabi's leaning Capital Gate tower.
2. Federation Tower, Moscow
Height: 373 metres
People slide along a zipline over the Moskva river in front of Moscow's financial district, with Federation Tower in the centre. Construction began in 2005, but the financial downturn meant it was not completed until 2017. The original design included a spire that would have taken the height to 450 metres, but this was dismantled before completion.
3. OKO Residential Tower, Moscow
Height: 354 metres
Short for Ob"yedinonnyye Kristallom Osnovaniya, the abbreviation is also the Russian for “eye”. Part of a complex that includes the 254 metre South Tower. The North Tower, completed in 2015, has a rooftop skating rink that is Europe’s highest.
4. Neva Towers, Moscow
Height: 345 metres
Still only partly completed, the complex of two skyscrapers will eventually include the shorter Tower 1, at 302 metres when finished, making it Europe’s eighth tallest building. The site was originally intended for the Russia Tower, a Norman Foster design that would have been 612 metres, but which was cancelled after the 2008 financial crisis.
5. Mercury City, Moscow
Height: 338 metres
Once Europe’s tallest building when it was finished in 2013. Clad in copper coloured reflective glass, it was designed to collect melting snow for water use as an environmental measure.
6. The Shard, London
Height: 309 metres
Rising on the south bank of the Thames, Renzo Piano’s distinctive design has as many detractors as admirers for its impact on the London skyline. Opened in 2012, The Shard has featured in Spider-Man: Far From Home and an episode of Dr Who. To give a sense of scale, it is 11 metres shorter than Dubai's 320 metre Burj Al Arab.
7. Eurasia Tower, Moscow
Height: 308 metres
The seventh tallest building in Europe ranks just 141st in the world. Completed in 2014, Eurasia Tower includes 20 luxury apartments, a hotel, shops and is part of cluster of high rise buildings that includes the Federation Tower and OKO complex.
8. Capital City Moscow Tower, Moscow
Height: 301 metres
Moscow dominates much of our list. Capital City Moscow Tower is part of the 'City of Capitals', a high-rise complex in the Russian capital's business district. Moscow Tower was the tallest building in Europe on completion in 2009 and sits next to the 256 metre St Petersburg Tower.
9. Skyland Residential and Office Towers, Istanbul
Height: both 284 metres
The twin towers take our joint ninth place. Completed in 2017, they are the tallest in Istanbul, which now has the second highest number of buildings over 150m after Moscow. The mixed- use complex features a hotel and conference centre, while the residential tower features over 800 residences.
A version of this article was first published on October 12, 2020
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
The biog
Full name: Aisha Abdulqader Saeed
Age: 34
Emirate: Dubai
Favourite quote: "No one has ever become poor by giving"
Match info
Uefa Champions League Group B
Tottenham Hotspur 1 (Eriksen 80')
Inter Milan 0
Defending champions
World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack
Terminal High Altitude Area Defense (THAAD)
What is THAAD?
It is considered to be the US' most superior missile defence system.
Production:
It was first created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out projectiles, namely ballistic missiles, as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles both inside and outside of the Earth's atmosphere, at an altitude of 93 miles above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then deployed them in 2016, becoming the first Gulf country to do so.
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.”
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
Match info
What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Poacher
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The%20specs
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.