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Most economically important architectural wonders

There are several factors that drive a nation’s economic development and one of the most important but rarely recognized are the contributions of architecture to a country’s wealth and future growth.

In fact, spending millions and even billions to build mega projects and engineering wonders has been a daring economic strategy for many countries around the world.

Let’s take a look at some of the most economically important megaprojects today.

  1. Millau Viaduct

Image source: arcadis.com

With a mast reaching over 343 meters, Millau Viaduct is considered as the tallest bridge in the world. It was designed by the famed architect, Norman Foster and brought into life by renowned engineer Michel Virlogeux.

The cable-stayed bridge is located in southern France and even during the early months after its completion, it immediately became an architectural icon. To accommodate the growing number of tourists, several shops and hotels have been built around the site.

Surrounding attractions have also benefited from the bridge’s popularity, even helping reopen a local glove factory because of the renewed interest in the nearby towns.

 

  1. Sydney Opera House

Image source: timeout.com

The famous Sydney Opera House in Australia is one of the world’s most favorite tourist attractions. Its construction began in 1957 but it was only after 16 when it was finally completed. Today, the attraction continues to fascinate millions of visitors every year.

According to a Deloitte report released during the Sydney Opera House’s 40th anniversary, the architecture is one of the country’s major economic assets, raking in $775 million to the nation’s economy annually. In fact, its cultural and iconic value have reached an outstanding $4.6 billion.

 

  1. Petronas Towers

Image source: fooddrifter.in

Located in Kuala Lumpur, Malaysia, the 88-floor Petronas Towers are the tallest twin architectures in the world. It’s also one of the most recognized megaprojects because of its impressive use of the “paneling technique”, from 55000 glass panels and 33000 stainless steel.

The twin towers have been a part of Malaysia’s economic growth, attracting both tourists and investors worldwide, and helping improve the country’s GDP to be one of the most competitive in Asia.


These developing countries are building the most ambitious real estate projects of today

Real estate has always been considered one of the most vital sectors in every country’s economy and its growing importance has also made it a strategic investment option not only because of its ability in generating ongoing income sources but also how its value can rise overtime.

Since the decision of investing in particular real-estate projects depends on unpredictable factors such as the state of economy and government stability of a nation, a growing number of developers and investors have looked into building and investing in the most flexible, multi-use real estate projects recently – bringing their ambitions to the relatively calm and stable economies of several developing countries around the world.

Forest City, Malaysia (estimated cost: US$100 billion)

Image source: eco-business.com

Country Garden Pacific View (CGPW)’s new project, the Forest City in the Iskandar Region of the country is something that investors should look forward to.  In fact, the company’s CEO Baiyuan Su expects great things from this smart city, calling it Southeast Asia’s first and the largest multi-use green development project, covering an area of 6-million square meters.

The firm has also partnered with PCCW Global for a world-class, energy-efficient digital infrastructure by building data center solutions that will enable a future-proof digital framework for the green city.

Also included in the developer’s vision are digitized transport and utility management services and integrated communications solutions for its residents and businesses.

Eko Atlantic City, Nigeria (estimated cost: $6 Billion)

Image source: ekoatlantic.com

Started in 2009, the Eko trans-Atlantic city project was a practical and ambitious response to the region’s demand not only for commercial and residential accommodations but also for its growing tourism and business sector.

Developers have promised state-of-the-art technology, modern water systems and advanced transportation services, and an independent energy source.  Eko Atlantic City is already in its advanced stage of development and is considered the best, prime real estate in West Africa.

The project was made possible through the combined efforts of the Lagos state government and several private sectors including South Energyx Nigeria Limited.