"The plan was money. The architect was money. The designer was money and the builder was money. And if you ever wondered what money would look like if it were left to its own devices, it's Dubai."
"The World", an ambitious real estate project conceived at the height of the real estate boom, is sinking back into the sea.
The once shining beacon of capitalism in the Persian Gulf has lost a lot of its luster since the global financial crisis in 2008. But is it too soon to declare Dubai dead? [more inside]
The real estate crisis has started to hit the fantasyland capital of real estate, Dubai. Projects are being abandoned and workers skipping town just the Dubai tower tops out at 818 meters. Pre-vi-ous-ly.