{"id":770229,"date":"2025-01-13T11:05:12","date_gmt":"2025-01-13T11:05:12","guid":{"rendered":"https:\/\/www.architectsjournal.co.uk\/?p=770229"},"modified":"2025-01-14T14:35:06","modified_gmt":"2025-01-14T14:35:06","slug":"zaha-hadid-architects-smashes-turnover-record-as-middle-east-fees-rocket","status":"publish","type":"post","link":"https:\/\/www.architectsjournal.co.uk\/news\/zaha-hadid-architects-smashes-turnover-record-as-middle-east-fees-rocket","title":{"rendered":"Zaha Hadid Architects smashes turnover record as Middle East fees rocket"},"content":{"rendered":"

The massive growth in income from the region came as the AJ100 big-hitter broke its annual turnover record for the third year in a row, according to results filed with Companies House<\/p>\n

The company<\/a> (Zaha Hadid Ltd) posted a global fee income of \u00a377.3 million for the 12 months to 30 April 2024, up by \u00a37.8 million from the \u00a369.4 million made in 2023. The practice is now generating more than twice the turnover it did in 2013.<\/p>\n

In its second full year as an employee-owned company, the practice also reported that its profit before taxation had risen by \u00a3658,000 to \u00a3907,350.<\/p>\n

However, the average number of staff employed by ZHA dipped again. Its workforce totalled 502, having fallen from 507 in 2022-23 and 520 in 2021-22. Turnover per technical employee is up from \u00a3153,205 to \u00a3177,207.<\/p>\n

The company\u2019s wage bill has returned to \u00a338.6 million per annum \u2013 the same as in 2022 \u2013 after dropping to \u00a337.9 million in 2023.<\/p>\n

Directors\u2019 pay, split between five individuals, was \u00a34.5 million, with the highest-paid director \u2013 assumed to be principal Patrik Schumacher \u2013 taking home \u00a3910,958, an increase from the \u00a3871,416 reported in 2023.<\/p>\n

ZHA\u2019s income in the Middle East has rocketed more than seven-fold over the last two years. In 2022, its workload in the region only netted the practice \u00a33.5 million.<\/p>\n

New commissions in the region, such as the Grove scheme at Qatar\u2019s Qetaifan Island North and the massive waterfront development in Muscat, Oman, have resulted in a boom in fees.<\/p>\n

Elsewhere, fee income in Asia dropped from \u00a342.2 million to \u00a335.6 million and the practice\u2019s workload in South America ceased entirely.<\/p>\n

However, there was a near doubling of work in North America, up from \u00a31.2 million to \u00a32.3 million. In May it was announced the practice was behind a new yacht club, nightclub and casino in the Bahamas as part of the Habacoa marina development.<\/p>\n

\"\"

Zaha Hadid Architects plans for Habacoa Casino in the Bahamas<\/p>\n\t

Source:Zaha Hadid Architects \\ Flyingarchitecture<\/p><\/div>\n

Last month, the High Court ruled that ZHA must continue paying to use the name of the late Zaha Hadid \u2013 an obligation that has cost the practice \u00a321.4 million since her death in 2016.<\/p>\n

The practice\u2019s directors had sought a legal declaration that it should be able to give 12 months\u2019 notice to terminate a contract with the Zaha Hadid Foundation, the charity set up in her name which promotes the late Iraqi-British architect\u2019s work.<\/p>\n

Under an agreement between the practice and the foundation, the practice must hand over 6 per cent of its income annually to use the trademark \u2018Zaha Hadid\u2019.<\/p>\n

In the latest battle<\/a> between the foundation and the practice, lawyers for the company\u2019s directors had argued that the licensing agreement was \u2018unusual and unreasonable\u2019 and a \u2018restraint\u2019 on trade. At the same time, the practice told the court that Hadid\u2019s name had \u2018diminishing significance\u2019, despite having \u2018significant value historically\u2019.<\/span><\/p>\n

But High Court judge Adam Johnson dismissed the practice\u2019s case and said the agreement did not contain a provision enabling the company to end the licensing deal with the foundation.<\/p>\n

Referring to the practice\u2019s 2023 turnover of \u00a369.4 million, Johnson argued in his decision: \u2018It strikes me as rather counterintuitive to describe [the licensing agreement] as operating in restraint of trade. It looks more like an encouragement to trade.\u2019<\/p>\n","protected":false},"excerpt":{"rendered":"

The massive growth in income from the region came as the AJ100 big-hitter broke its annual turnover record for the third year in a row, according to results filed with Companies House The company (Zaha Hadid Ltd) posted a global fee income of \u00a377.3 million for the 12 months to 30 April 2024, up by …<\/p>\n","protected":false},"author":915,"featured_media":770232,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_oasis_is_in_workflow":0,"_oasis_original":0,"ep_exclude_from_search":false},"categories":[681],"tags":[2514,2441,1422],"yoast_head":"\nZaha Hadid Architects smashes turnover record as Middle East fees rocket<\/title>\n<meta name=\"description\" content=\"Fees earned by Zaha Hadid Architects (ZHA) for work in the Middle East have more than doubled \u2013 from \u00a312 million to \u00a327.1 million\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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