I do a lot of business with clients in Dubai and these sort of stories are way more common than people realise. It would be ironic if one of the consequences of the credit crunch was the world's most expensive ghost town.
It's true indeed that the global crisis has strongly hit Dubai as well. I've been there on a job trip in January and my contact was showing me hundreds of new japanese construction machinery, still and unused in the lots of the renting companies... He said that in the good times those lots were empty, since all machines were rented and working. Now they rust under the sun. Sadly, you can see in the early morning in the outskirts commercial areas of Dubay city the queues of the unemployed Indians and Pakistani construction workers, waiting for a job that doesn't exist anymore. Moreover, both construction sites of the luxury resort on the planisphere shaped artificial island and of the wannabe tallest skyscraper in the world, are still due to lack of money. Eventually, not all that glitters is gold: my importer there said to me that those beautiful luxury apartments in the sci-fi sky scrapers that are shown in your clip, look fantastic only when new: after a few months, it's descaled paint, cracks in the walls, windows not closing, pipes bursting and so on… all due to the extremely poor quality of the used materials, and to lacking or corrupted controllers. No UL or CE approvals, in the Arab countries… you should buy one of those €800,000 apartments only and uniquely if you personally know the builder and trust his honesty, God willing.
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It's true indeed that the global crisis has strongly hit Dubai as well. I've been there on a job trip in January and my contact was showing me hundreds of new japanese construction machinery, still and unused in the lots of the renting companies... He said that in the good times those lots were empty, since all machines were rented and working. Now they rust under the sun. Sadly, you can see in the early morning in the outskirts commercial areas of Dubay city the queues of the unemployed Indians and Pakistani construction workers, waiting for a job that doesn't exist anymore. Moreover, both construction sites of the luxury resort on the planisphere shaped artificial island and of the wannabe tallest skyscraper in the world, are still due to lack of money. Eventually, not all that glitters is gold: my importer there said to me that those beautiful luxury apartments in the sci-fi sky scrapers that are shown in your clip, look fantastic only when new: after a few months, it's descaled paint, cracks in the walls, windows not closing, pipes bursting and so on… all due to the extremely poor quality of the used materials, and to lacking or corrupted controllers. No UL or CE approvals, in the Arab countries… you should buy one of those €800,000 apartments only and uniquely if you personally know the builder and trust his honesty, God willing.
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