Major project delays and challenging finance conditions are holding back the world’s tall building sector, new data shows.

Published by the Council on Tall Buildings and Urban Habitat (CTBUH), the CTBUH 2025 Trends and Forecasts report found that the number of tall building completions around the world fell by 33.7 percent from a record 184 in 2023 to 122 in 2024.

Going forward, CTBUH expects tall building completions in 2025 to come in at between 135 and 175.

(The CTBUH defines a tall building as being 200m or greater in height.)

Tall Building Completions by Year – Global

In its report, CTBUH noted the number of tall building completions is being impacted by longer construction timeframes and challenging financial conditions.

All up, there are 472 tall buildings in the pipeline that are currently under construction or topped out.

However, a record 259 projects are currently on hold.

Of these, 189 are in China, where CTBUH says that ‘curtailed financing has led to the high-profile difficulties for real estate developers in the past two years.’

Jason Barr, Professor of Economics at Rutgers University-Newark and a member of the CTBUH Height and Data Committee, said that the world’s tall building sector has been impacted by headwinds across several areas.

These include rising interest rates, post-pandemic supply chain corrections and tightened financing and uncertain economic conditions.

This has led to more delays in construction timelines and has caused developers worldwide to reassess their portfolio.

“The combination of financial uncertainty and evolving urban demand is reshaping the global skyline,” Barr said.

“We are witnessing a recalibration period where developers are more cautious, and this is reflected in the number of stalled projects.”

Despite this, the report highlights continued momentum over the longer term.

All up, the world’s stock of tall buildings has more than doubled over the past seven years to reach 2,415 by the end of 2024.

(at 393.8m, the 77 floor Iconic Tower in Cairo, Egypt, was the tallest building to be completed in 2024 and is the first building in Africa to make the world’s top 100 tallest buildings. Image source: China State Engineering Corporation)

Long term trends

Looking at the longer term, the report highlights continuing trends in three areas.

First, there is a shift in geographical dominance away from North America and toward Asia and the Middle East.

Between 1990 and 2024, the number of the tallest 100 buildings in the world that was located in North America declined from 82 to 14.

Over that same period, the number of top 100 tall buildings located in Asia and the Middle East rose from 11 to 61 and from zero to 19 respectively.

Of particular note is the dominance of China, where the country’s 83 completions in 2024 accounted for more than two-thirds of all tall buildings that were completed last year.

Of these, around half (41) were completed in Shenzhen, Wuhan, Changsha or Shanghai.

(source: CTBUH Trends and Forecasts Report 2025)

Next, there is a movement away from pure office buildings toward residential and mixed-use buildings.

Between 2000 and 2024, the number of top 100 tall buildings that were office-only buildings declined from 84 to 36.

Over that same period, the number of mixed-use and residential buildings making the top 100 increased 12 to almost half (49) and from zero to 10 respectively.

(source: CTBUH Trends and Forecasts Report 2025)

Finally, in terms of material uses, composite structures which typically involve a mix of steel and concrete are now the dominant form of construction and account for almost two-thirds of top-100 tall building structures globally.

(source: CTBUH Trends and Forecasts Report 2025

A Sector in Transformation

Commenting on the report, CTBUH CEO Javier Qunitana de Uña said that the world’s tall building sector is undergoing change.

“The global tall building industry is experiencing a dynamic transformation,” Quintana de Uña said.

“We continue to witness significant completions and milestones—such as Africa’s first-ever supertall building—and we’re encouraged by an accelerating trend for renewing and repositioning older structures, a movement that simultaneously preserves architectural heritage and advances the prospect of more sustainable urban development.

“(However,) There’s a need for vigilance, too. The rise in stalled projects underscores the volatility in today’s construction landscape. As we move forward, resilience and adaptability will be crucial in shaping the future of vertical urbanism.”