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2008-12-10 0 336

Where projects are drying out

Boston.com is widely know for their fantastic picture series.

 

This time its about the Booming City Dubai in the United Arab Emirates. After the new Atlantis resort officially opened with a 35 Million AU Dollar ceremony a couple of weeks ago, I doubt that the UAE and Dubai will see something like this in the near future. Large investment projects have been put on hold incl. the 1000 Meter high Schumi-Tower and the surrounding area which would have been a 70 Billion Euro investment. The boom is coming to an end which after 10 years of construction boom and growing from 3.8 Million People in 2004 to 6.5 Million people this year the market is slowing down rapidly. 35% of all available crans worldwide were located in Dubai. So lets enjoy some phantastic pictures ...

 

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