Dubai World and properties built on sand (one-time darling of business media)
November 26, 2009 Dubai World and properties built on sand David Wighton: Business Editor’s commentary The world’s tallest building will open in Dubai in just five weeks’ time and visitors to its observation deck on the 124th floor will be able to look down on the half-finished buildings and empty construction sites that now litter the Gulf emirate. Dubai’s once-booming economy has deflated and its property sector, with its ludicrous architecture and record-breaking buildings, has collapsed. An estimated 400 projects worth more than $300 billion (£180 billion) have been cancelled, shut down or are on a go-slow as developers try...
Original Article: Forum: News/Activism
Tags: Amp, Architecture, Booming Economy, Business Editor, Business Media, Construction Sites, Darling, Developers, Emirate Dubai, Finished Buildings, Gulf Emirate, Observation Deck, Property Sector, Tallest Building, X92