12/03/09 Stockholm, Sweden – The emirate we’ve frequently referred to as Dububble has had a spectacular rise and similarly splashy fall. Fast Company has captured the latter portion of its history in a series of photographs that help you to visualize the scale of its collapse.
As it describes, “Deserts have a way of reclaiming whatever is built upon them. In the case of Dubai, the global financial implosion has sent that process into overdrive. After six years of frenzied expansion, during which the emirate’s population grew at 7% annually and nearly $600 billion went into construction (the world’s tallest building! the world’s largest shopping mall! the biggest man-made island! an indoor ski resort!), reality has come rushing into view.”
See the pictures and descriptions in Fast Company’s slideshow of Dubai going off the deep end.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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I’m not so sure. A lot of money has been invested that’s true, but Dubai is a unique attraction in that part of the world for its liberal and western attractions if you know what i mean. I haven’t been there but things I have read suggest a lot of rich people are still going there and eating at expensive restaurants and spending at flash malls. Dubai dead? Not by a long shot.