After it all fails they will have a very impressive headstone.
Posted on 03/03/2009 10:43:23 AM PST by george76
Short of opening a Radio Shack in an Amish town, Dubai is the world’s worst business idea, and there isn’t even any oil. Imagine proposing to build Vegas in a place where sex and drugs and rock and roll are an anathema. This is effectively the proposition that created Dubai - it was a stupid idea before the crash, and now it is dangerous.
Dubai threatens to become an instant ruin, an emblematic hybrid of the worst of both the West and the Middle-East and a dangerous totem for those who would mistakenly interpret this as the de facto product of a secular driven culture.
Dubai is a place for the shallow and fickle. Tabloid celebrities and worn out sports stars are sponsored by swollen faced, botox injected, perma-tanned European property developers to encourage the type of people who are impressed by fame itself, rather than what originated it, to inhabit pastiche Mediterranean villas on fake islands. Its a grotesquely leveraged version of time-share where people are sold a life in the same way as being peddled a set of steak knives. Funny shaped towers smatter empty neighborhoods, based on designs with unsubtle, eye-catching envelopes but bland floor plans and churned out by the dozen by anonymous minions in brand name architects offices and signed by the boss, unseen, as they fly through the door.
one problem with the shallow and the fickle, its that they are shallow and fickle, they won’t put down deep roots and they won’t remain loyal to Dubai. The people who appear in People magazine need to be told what is cool by Wallpaper magazine who in turn will discover something after the hipsters have moved on.
(Excerpt) Read more at smashingtelly.com ...
Sounds as if someone didn’t buy Dubai real estate when the time was right.
After it all fails they will have a very impressive headstone.
the think the burj dubai is even taller than what its showing in the picture.
Dubai is a free port. Free ports prosper in reverse proportion to the strictness of the managed economies and societies around them.
For companies operating in the middle east, its a window of relative freedom. And for companies operating world-wide, its a place you can do business where you aren’t directly hamstrung by taxes and duties and every imaginable legal restriction.
As long as there are mad mullahs and socialists vying for control of the world, (and as long as everyone agrees to leave it be) Dubai will be the place to be.
Whatever you don’t like about Dubai, remember it is vastly more open financially than, and has all of the vices not openly available in, the surrounding countries of Saudi Arabia, Iran, Kuwait, etc. etc...
About a year ago i was giving the place 10-15 years.
Guess i was wrong.
About a year ago i was giving the place 10-15 years.
Guess i was wrong.
I hate Dubai for the same reason I hate Vegas - the two most fake places on Earth
Dubai is a free trade area... I like Dubai.
Yow, the tone of the article is a bit cranky, eh? :’)
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