As summer ebbed, many U.S. architecture firms were touting how their expansion into foreign markets, which had ramped up in earnest over the last few years, could hedge them against any domestic economic downturn. The reasons? Strong currencies. Non-reliance on foreign trade. Under-housed populations. Robust oil revenue. Image courtesy HKS The HKS-designed Royal Children's Hospital, in Melbourne, is under construction. Despite the global financial crisis, HKS says there's still a demand for healthcare facilities in Australia. Related Links: Brazil: Firms Still Moving Forward China: Stimulus Package Offers Hope Germany: Looking Farther Afield for Jobs India: Bowing to New Realities Japan:
In recent years, as many major U.S. architecture firms expanded internationally, they often bypassed Latin America in favor of Europe, China, and the Middle East. Gradually, though, that may be starting to change, as architects open offices and enlist for projects in Central and South American countries, where population and economic growth have been strong in recent years. Image courtesy Perkins Eastman The 12-story Grupo Eljuri Building, in Ecuador, was designed by Perkins Eastman. Even as financial troubles mount around the world, and increasingly put some Latin nations at risk, there’s a sense that much of the region, which has
Dubai has attempted to set itself apart with the world’s tallest building (Burj Dubai) and largest urban development (Dubai Waterfront). But in terms of fallout from the current economic crisis, the Middle Eastern city may not be so different from the rest of the world after all. Photo ''Mark Horn The global credit crunch is affecting projects in Dubai. In recent weeks, delays have beset several massive projects there, according to several architects working in the area, and articles in The National, a United Arab Emirates newspaper. Dubai Waterfront, often referred to as Waterfront City, the 1.5-billion-square-foot development master planned
Construction activity is falling fast and will head down again next year. The rate of decline could slow, but only if the government bank rescue and planned economic stimulus work. That’s the discomforting scenario described by McGraw-Hill Construction, the parent of ENR and Architectural Record, during the Outlook09 Executive Conference in Washington, D.C. on Oct. 23. Image courtesy McGraw-Hill Construction The construction industry is in 'retrenchment,' says Robert Murray of McGraw-Hill Construction. Construction starts are on pace to tumble to $555.5 billion in 2008—a 12% drop from the previous year. Steady declines will continue through 2009, dropping another 7% to
After a decade of creating jutting projections for museums, Daniel Libeskind has attempted to redefine the look of another institution: the shopping mall. Called the Westside Shopping and Leisure Centre, the low-slung 1.5-million-square-foot facility in Bern, Switzerland, is the first project of its type for the New York-based architect. It opened on October 8.
The plunging financial markets this month, followed by unprecedented responses from the federal government, have left many Americans bracing for a deep recession. In the architecture profession, however, the downturn has already arrived, according to a key measure of the market for architectural services. Image courtesy AIA As of August, the Architecture Billings Index (ABI), which the American Institute of Architects compiles in part from statistics provided by firms, had dipped below 50 for seven straight months. Anything below 50 represents a billings decrease. As of August, the Architecture Billings Index (ABI), which the American Institute of Architects compiles in
