Fazlur Rahman Khan

June 23, 2011 by · Leave a Comment 

By Syed Aslam

File-FRKhanFazlur Rahman Khan was born in  1929, in Dhaka, Bengal now Bangladesh. His father, Khan Bahadur Abdur Rahman Khan, was a renowned educationists.  Khan passed the Matriculation Examination from Calcutta in 1944 and was admitted to the Presidency College. He obtained the Engineering Degree securing first position  from Shibpur Engineering College of Calcutta in 1950.  He was awarded a Fulbright Fellowship and a Ford Foundation Scholarship in 1952 to pursue higher studies in the University of Illinois at Urbana-Champaign and received his PhD degree in Structural Engineering .  In 1955, employed by Skidmore, Owings and Merrill, he began working in Chicago. During the 1960s and 1970s, he became noted for his designs for Chicago’s 100-story John Hancock Center and 108-story Sears Tower, the tallest building in the world in its time and still the tallest in the United States since its completion in 1974. He died in 1981 at the age of 52 in Chicago.

Dr. Khan is called the Einstein of Structural Engineering and here is why.  His contributions to the field- developing the shear wall frame interaction system, the framed-tube structure, and the tube-in-tube structure-led to significant improvement in structural efficiency. This kind of design  made the construction of tall buildings economically viable. The framed-tube structure has its columns closely spaced around the perimeter of the building, rather than scattered throughout the footprint, while stiff spandrels beams connect these columns at every floor level.   Khan realized that the rigid steel frame structure that had dominated tall building design and construction so long was not the only system fitting for tall buildings is not suitable any more.  His idea  brought a new era of sky scraper evolution in terms of multiple structural systems.

Dr.  Khan’s design innovations significantly improved the construction of high-rise buildings, enabling them to withstand enormous forces generated on these super structures. These new designs opened an economic door for contractors, engineers, architects, and investors, providing vast amounts of real estate space on minimal squire feet  of land.  His tube concept, using all the exterior wall perimeter structure of a building to simulate a thin-walled tube, revolutionized tall building design. The constructions of most super tall skyscrapers since the 1960s, including the construction of the World Trade Center. Terminal Building in Jeddah, Saudi Arabia is based on a tent-like structure – to afford optimum shade for up to 80,000 pilgrims. Khan used fiberglass and cable to combine the practical with the modern to create the tent like structure which is fully functional for the last 25 years.

The cornerstone of Khan’s approach was that science  in fusion with creativity, can create a design affordable  also in the less affluent parts of the world. Until his death in 1981,  Khan was profoundly concerned with the rapid urbanization of developing countries and called for the application of workable and appropriate forms of technology. He will be remembered for his contributions to the human civilization.

Aslamsyed1@yahoo.com

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Abu Dhabi’s Dubai aid shrinks to $5 bln

January 21, 2010 by · 1 Comment 

By Amran Abocar and Nicolas Parasie

2010-01-08T095618Z_1575008665_GM1E6181DQ601_RTRMADP_3_EMIRATES

Expert sky diver and BASE jump enthusiast Omar Al Hegelan (C) descends on to Burj Park Island after free falling from Burj Khalifa in Dubai, January 5, 2010. Al Hegelan and Nasser Al Neyadi both expert divers, have broken the record for the world’s highest BASE jump after free falling from the tallest building in the world, and made their landing on Burj Park Island after covering a vertical descent of 672 metres (2,205 ft). Picture taken January 5.

REUTERS/Stringer

DUBAI, Jan 18 (Reuters) – Dubai said on Monday that half of a $10 billion bailout from Abu Dhabi last December came from an older debt deal, highlighting what analysts said was the emirate’s poor market communications and lack of transparency.

Investors said news that Abu Dhabi directly lent less new money than previously thought also indicated the wealthy emirate wanted more evidence of Dubai’s fiscal probity, after helping it avert an embarrassing default on a state-linked bond.

“The government works behind a high degree of opacity and I think market players have factored that in,” said Khuram Maqsood, managing director of Emirates Capital.

The UAE is not known for exercising best practice transparency but that doesn’t mean they’re not trying. But I don’t think they’re there yet and I think people recognise that.”

A Dubai government spokeswoman said the last minute lifeline last Dec. 14 included $5 billion raised from Al Hilal Bank and National Bank of Abu Dhabi which was announced on Nov. 25.

“Obviously it’s a lot less cash than we had assumed,” said Raj Madha, an independent analyst based in Dubai.

“The interesting thing is what it says about the behaviour of Abu Dhabi: whether they are just rushing through a large amount of money or whether they are providing funding where required.”

Five-year credit default swaps for Dubai stood at 426 basis points, up from 423 basis points on Friday.

Dubai rocked global markets last Nov. 25 when it requested a standstill on $26 billion in debt linked to its flagship conglomerate Dubai World and its two main property developers, Nakheel and Limitless World.

The $5 billion raised from the two Abu Dhabi banks was part of a $20 billion bond programme announced early last year. The UAE central bank signed up for $10 billion of that in February.

But it was unclear whether Abu Dhabi’s $10 billion bailout on Dec. 14 — which enabled Dubai World to repay a $4.1 billion Islamic bond, or sukuk by developer Nakheel — was entirely new money or included the bond to the Abu Dhabi banks.

The government spokeswoman, who spoke on condition of anonymity, said the Gulf Arab emirate had already drawn down $1 billion of the $5 billion from the banks, provided under a five-year bond priced at 4 percent, with the rest yet to be used.

The remainder of the funds, some $4.9 billion, may come from the banks’ or the Abu Dhabi government directly, the spokeswoman said, through another of its investment vehicles.

“The question is whether there will be more funds coming in; because as things stand today, Dubai without further support will find it very difficult to drive a favourable bargain with its creditors,” said a Gulf-based banker.

Asked whether Dubai would seek more funds, the spokeswoman declined to comment.

Abu Dhabi’s support in December came nearly three weeks after the standstill news and amid a lack of communication by Dubai which shook global markets and may have caused lasting damage to the reputation of the Gulf business hub.

CREDITOR TALKS

Dubai World is in the midst of talks with its creditors to finalise a formal standstill agreement that would last for six months, during which the conglomerate will restructure its remaining debt burden, estimated at some $22 billion.

The conglomerate has insisted the restructuring is limited only to certain units and has ringfenced its jewels such as ports operator DP World.

In a research note on Monday, UBS said there was a high probability Dubai World would have to offer “sweeteners” to creditors to bring them onside in the debt talks.

That could include higher interest rates or equity swap options to persuade creditors to give up claims to key assets, like the profitable port operator.

“It is unlikely that Abu Dhabi’s support has peaked just yet and the probability of further balance sheet assistance is high,” UBS economist Reinhard Cluse said.

But he said Abu Dhabi, the biggest and wealthiest of the seven member United Arab Emirates federation, would not want to act solely “as a channel for cash” and would demand systemic changes.

Dubai has said the Abu Dhabi lifeline is contingent on Dubai World reaching an acceptable standstill with creditors.

Uncertainty over the restructuring has weighed on UAE markets as investors fret about the outcome amid a dearth of information.

The conglomerate said this month it is “some time away” from presenting its formal plan to creditors, though it is expected in coming weeks.

“Clearly there were critical time deadlines last year that required extraordinary measures,” said Mashreq Capital Chief Executive Abdul Kadir Hussain, of Abu Dhabi’s bailout.

“But whatever form is required, whether it’s the federation or Abu Dhabi, what is critical now is a well-documented plan for repayment and … a strategy that will show how all of this will be taken care of.” On Monday, the Financial Times said some creditors to the conglomerate are seeking to offload loans to reduce their exposure to the conglomerate.

(Additional reporting by Chris Mangham and Dinesh Nair; Editing by John Irish and David Cowell)

12-4

Mall Rats

November 12, 2009 by · Leave a Comment 

By Sumayyah Meehan, Muslim Media News Service (MMNS) Middle East Correspondent

wallgarden The Middle East is world-renowned for hosting some of the tallest buildings in the world. However, the region is also home to some of the largest and most luxurious shopping malls in the world. As a result of almost year-round scorching temperatures and excess oil wealth that flows out of banks just as quickly as the bubbling crude can be exhumed from the earth, shopping is the new national pastime for most Middle East nations.

It’s primarily the elite and wealthy denizens of the Gulf region, in countries like Kuwait, Dubai and Oman, that can afford to shop til they drop in the most prestigious designer boutiques and stores from the global arena. And since the wealthy clearly outnumber the less fortunate in the Gulf region, malls go up at a record pace, each bearing a signature style to lure customers and ring up sales.

Built across 12 million square feet, the largest mall in the Middle East can be found in the United Arab Emirates.  With more than 1,200 stores ready and open for business the Dubai Mall attracts approximately 750,000 visitors each week. The mall is part of the Burj Dubai Project, which is the tallest building in the world. Some of the features that make the mall unique include the biggest gold market in the world with more than 220 jewelry stores. It also has more than 70 stores that carry exclusive haute couture designer clothing. And as for entertainment, the mall is home to the first SEGA indoor theme park in the Middle East and a 22-screen movie theater.

However, the undisputed crown of the region’s largest mall is set to topple by next year’s end. Just a hop, skip and a jump away from Dubai, the leading contender for the most lavish and gargantuan mall in the Middle East can be found in Kuwait. ‘The Avenues’ mall lives up to its name. This monster of capitalism and sheer consumerism is as big as it gets with several hundred stores and plans to house a European-styled ‘Grand Mall’. The mall has already opened despite the fact that only two out of the proposed three phases have been complete. Security is also very tight as the mall features its very own police department with a force of 350 ‘mall cops’ that work around the clock to ensure public safety. The command center of the police department receives live feed from over 350 security cameras situated all over the interior and exterior of the mall.

Size, however, does not always matter. There seems to be a mall on every corner in the biggest cities of the Gulf region with most of the smaller malls mimicking each other and offering little more than a rehashing of the one prior. However, there is one mall that while small is standing out as a veritable gem in the crown of all things commercial. The ‘360 Mall’ of Kuwait was built in a perfect circle and is an architectural feat of sheer minimalism and art. The most attractive features of this mall are not a giant store or an enormous entertainment center. What makes the 360 Mall unique is that it houses two very unique and permanent art installations. The first is the largest vertical garden in the world, which was grown by French botanist Patric Blanc and is the size of four tennis courts in length. The second are two glass sculptures, made to look like the moon and the sun, by renowned American glass artist Dale Chihuly.

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