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Zaha Hadid Architects has paid almost $16million over the past five years in order to retain the name of the late Zaha Hadid in the practice name. The deal, reported by UK outlet Building Online, included $4.6m (£3.4m) to use the founder’s name in 2021, $3.8m (£2.8m) in both 2020 and... View full entry
The architecture practice run by Sir Norman Foster almost doubled its profits as it expanded in the Middle East and gained new business despite pandemic lockdowns.
Total revenues fell by £33m to £200m in the year ending 30 April 2021, accounts for Foster + Partners, the practice’s main trading company, show. But profits before tax almost doubled to £36.2m during the year, compared with £19.8m in the previous year.
— The Guardian
New projects included a planned luxury tower development in Greece and a new tourist destination on an artificial island in the Red Sea (although notably, the Tulip Tower did come off the books due to environmental concerns). Foster himself is worth well into the nine-figure range and has... View full entry
In the last 22 months, workers' pandemic-related absences have cost employers more than $78.4 billion — nearly $1 billion each week — according to a Dec. 20 analysis from the Integrated Benefits Institute. — Construction Dive
The Integrated Benefits Institute used data from the U.S. Bureau of Labor Statistics along with its own dataset to analyze disability wage payments, state disability insurance, sick leave wages, and employee benefits for its calculation. The states of California, Texas, New York, along with the... View full entry
Architecture firms in New York City recruiting new staff may soon be required to include salary ranges in jobs postings, following the passage of a new bill through the New York City Council. The bill requires NYC employers with four or more employees to include the minimum and maximum salary... View full entry
The Global Architectural Rendering Software Market is expected to grow by $971.89mn during 2021-2025, decelerating at a CAGR of 23.53% during the forecast period. — Yahoo! Finance
The new study points to an increase in urbanization and disposable income as primary factors for the anticipated growth of the global architectural rendering software market. An October report from Dodge Data & Analytics, in partnership with design software giant... View full entry
National consulting group Appleseed Strategy has released the results of their 2021 Financial & Economic Survey, a U.S. business study of AEC firms to gauge the ongoing impact of the Covid-19 pandemic on the sector. 43 individuals and 39 companies in architecture, engineering, landscape... View full entry
Months of isolation made people rethink the way they wanted to live. That meant their buildings would change. That meant construction, and architects became useful again, after being abandoned. But the craziness of a new era has made all builders and architects simultaneously empowered by their new in-demand status while fully threatened by costs and availability of all the products and people necessary to build. — CT Insider
Earlier in the year, labor and supply chain issues had caused markets in steel and timber to skyrocket, delaying many commercial and residential projects industry-wide, in addition to triggering what some think will be a boom in demand once the pandemic subsides. However bright the prospects are... View full entry
The latest economic report issued by the American Institute of Architects is out today, indicating continued increasing demand for design services for the tenth consecutive month in November. The pace of growth as expressed in the Architecture Billings Index (ABI) softened slightly compared to... View full entry
HOKO Design, a UK-based startup seeking to use technology to transform the role of the architect, has raised $590,000 in a crowdfunding campaign. The company, which describes itself as “the homeowner’s architect,” focuses on integrating virtual reality, real-time client feedback, and a... View full entry
The latest edition of the Dodge Momentum Index indicates a 4% decrease in November from October. Commercial planning fell 8% while institutional planning moved 5% higher. The value of nonresidential building projects continues to move in a sawtooth pattern, in which month-by-month measures... View full entry
The Chartered Institute of Building (CIOB) has invited construction companies around the world to support a new charter committed to improving diversity within the global construction sector. The move comes amid multiple reports finding that female, BIPOC, and young employees are significantly... View full entry
Five years after the tragic passing of its eponymous founder, Zaha Hadid Architects has announced its transition to an employee-owned firm in a surprising move that could have implications for large firms industry-wide. The announcement was made Tuesday via a statement published on ZHA’s... View full entry
Chinese authorities have taken over the Gensler-designed, under-construction Evergrande Guangzhou Football Stadium, commissioned by indebted property developer Evergrande, which was due to become the world’s largest football stadium by capacity, according to Reuters. — Global Construction Review
The Chinese government will either sell or take over the stadium via the state-owned Guangzhou City Construction Investment Group. As reported by Reuters, construction on the stadium has been halted for at least three months, in which Evergrande has been struggling to meet repayments on over $... View full entry
The third edition of AIA’s Small Firm Compensation Report has been released detailing how sole proprietorships and firms with fewer than three architectural staff employees fared during the tumultuous period between 2019 and 2021. The report includes data on compensation trends, employee... View full entry
A new report from the American Institute of Architects has found that business marketing remains underutilized among U.S. architecture firms. The finding forms part of the newly released Technology, Culture, & the Future of the Architectural Firm report, which explores the influence of... View full entry
