Economy: The Latest Architecture and News

“The Mindfulness City will be a sustainable city. To be mindful is to be aware — to perform best,” said Giulia Frittoli, partner and head of landscape at BIG. The Kingdom of Bhutan is a landlocked Buddhist country in the eastern Himalayas, nestled between China and India. It covers 14,000 square miles and has a population of nearly 800,000.

The Royal Office of Bhutan asked BIG, Arup, and Cistri to develop a plan for a new Mindfulness City in Gelephu in southern Bhutan, near the border with India. The city will span 386 square miles and include a new international airport, railway connections, hydroelectric dam, university, spiritual center, and public spaces.

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Oman has just announced plans for a $2.4 billion mixed-use project, the new Omani Mountain Destination on Jabal al Akhdar. Masterplanned by AtkinsRéalis, the scheme aims to attract sustainable development opportunities, hoping to "operate as Net Zero Carbon and striving to use 100% renewable energy." The project is in alignment with Oman Vision 2040, seeking a developed, diversified, and sustainable economy;, featuring residences, hotels, and a health village.

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Smart homes leverage technology to provide residents with increased convenience, savings, comfort, and security. With automated environments, household routines are streamlined. What once seemed like a distant future is now within reach as smart devices have become more accessible. They enable a new level of interaction between the home and its inhabitants through Wi-Fi and Bluetooth connections.

Subscriptions are quickly becoming an integral part of everyday life. For example, streaming platforms have completely replaced the need to own video cassettes, while ride-sharing services partially cover the need to own a private car. Subscriptions have been largely understood as digital services, but a new trend suggests that the same concept could be transferred to physical objects in the near future. Instead of owning a fridge, a washing machine, or even light bulbs, one could acquire a subscription to ensure the freshness of produce, clean clothes, and a well-lit home.

The concept is known as the “subscription-based economy,” a variant of the “circular economy” notion. It postulates that instead of owning some of the objects used every day, one could subscribe to a service to gain access to the same benefits, but without the need to own, maintain or dispose of the object in question. Consumers no longer buy products; they buy access to services. Sometimes, it would mean simply leasing the object instead of purchasing it, but the model goes one step further. It inscribes a shift of responsibility and mentality. Because consumers no longer own the objects, the responsibility to reuse and recycle falls to the producers, who are now in charge of the entire life cycle of the objects they create.

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When Airbnb began nearly 15 years ago, it offered a new and innovative solution to book short-term stays without any hassle. By renting out a spare room or an entire apartment, it provided an alternative to traditional hotel models which were often overpriced and overbooked. Airbnb now faces many critics as the company quickly grew, offering hundreds of thousands of stays around the globe, but not without a handful of negative experiences. Now, planners and policymakers are beginning to see the effects of the abundance of Airbnb listings and how it impacts a growing housing crisis.

Most architects can relate to the feeling of being plunged into a deep devotion toward architecture. What starts out as a dream career becomes a nightmare for many. After a rigorous education, the experience of a tumultuous career journey can dishearten professionals. Twitter threads and LinkedIn posts have widely debated topics of long work hours and disparate pay, with not many solutions. Architects are constantly at war between profession and passion, a juxtaposition of love and despair. Perhaps, at the root of these problems is the colloquial definition of the noun ‘architect’.

As the world slowly adjusts to the "new normal," so too does the architecture industry. Data related to market size and workloads shows that the profession continued to grow even after the pandemic struck. Other statistics show how architects are starting to be hit by the present crisis – such as the fall in full-time work and rising unemployment. While these statistics could take one down a road of despair (or enthusiasm), there is more to the numbers: Mobility, digital and managerial competencies are framing the profession in the 2020's. Not only as data for the sector to approach the market and retain talent but also as strategies in the face of crises and technologies to come.

The world’s most primitive construction materials are being used to create the most advanced buildings. In light of environmental crises, architects are focusing their efforts in designing better built environments for people and the planet. The results may often seem ‘greenwashed’, failing to address the root of ecological distress. Environmentally responsible architecture must aim not to reverse the effects of the ecological crisis, but instigate a revolution in buildings and how we inhabit them. Essays from the book The Art of Earth Architecture: Past, Present, Future envision a shift that will be a philosophical, moral, technological and political leap into a future of environmental resilience.

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The Guggenheim Museum in Bilbao is celebrating its 25th anniversary this October 2022. Set on the edge of the Nervión River in the Basque Country, Spain, Frank Gehry's Guggenheim boosted the city's economy with its astounding success and changed the museum's role in city development. Twenty-five years on, the Bilbao Effect continues to challenge assumptions about urban transformations and inspires the construction of iconic pieces of architecture that uplift cities' status, calling investors and visitors.

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Architecture, as a profession, is highly cyclical in nature. It ebbs and flows with the tides of economic conditions, and is especially hard hit during times of downturn. We’ve all heard stories or experienced it ourselves, or layoffs during the Great Financial Crisis in 2008, or even more recently the significant cutbacks architecture firms went through during the uncertainty of the COVID-19 pandemic. Projects went on hold and new business opportunities declined almost overnight. Now, two years later, firms are keeping a close watch on global supply chain issues and rising inflation rates, especially with increased pressure to meet the needs of a growing urban population. Will architecture be recession-proof as we enter a bear market? 

The digitisation of architecture and design projects has been going on for some time now and has increased even more, largely due to the global pandemic. To hear talk of the metaverse, the NFT or the digital twins seems to be commonplace at this time, when the digital economy is booming and where architects and designers who seek to move from the physical world to the virtual world are beginning to proliferate. But will virtuality be the future of architectural visualisation?

Nike recently acquired RTFKT, a design studio that was founded in Jan 2020, and is known for its virtual “metaverse-ready sneakers and collectibles”. Metaverse land purchases are making headlines with multi-million dollar price tags. We’ve also seen mainstream adoption for NFT art this year and the sales are expected to surge to $17.7 billion by the end of 2021.

Beneath the hype and frenzy, we can spot a fundamental shift that unlocks a new creator economy. It provides the creators with direct access to the market, builds ongoing relationships with fans, and unites strangers in self-governed communities. In this article, we will discuss why every 3D designer/architect should embrace the Web 3.0 movement to adopt a new business logic and benefit from the creator economy in the metaverse?

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Three years ago, in the wake of the release of his book Theories and History of the Modern City ("Teorías e Historia de la Ciudad Contemporánea", 2016, Editorial Gustavo Gili), we sat down with the author, Carlos García Vázquez, to discuss this complex and "uncertain creature' that is the modern city, focusing on the three categories that define cities today: Metropolis, Megalopolis, and Metapolis.

Based on an analysis of those "who have traditionally led the way in the planning of spaces" (sociologists, historians, and architects), the book illustrates the social, economic, and political forces that, in service to their own agendas, drive the planning, transformation, exploitation, and development of cities. In 120 years, urban centers have transformed from places where "people died from the city" to bastions of personal development and economic prosperity; however, the question remains —have cities really triumphed?

"Yes", says García Vásquez, "but we have paid dearly for it."

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