The article is focused on the cultural phenomena of architectural iconism that has become globally widespread due to the continuous pressure of ongoing economic, ideological and cultural globalisation and the reigning interests of the web of building industry that appropriates architectural design for its own financial purposes as well as local political stakeholders who often seek to replicate the success of previous internationally renowned iconic buildings by aspiring to the status of world-class cities. While discussing the global and local cultural contexts in which the so-called ‘Bilbao effect’ triggered the current pursuit of iconic buildings, the author of the article analyses the much publicized recent example of iconic architectur...