Tuesday, February 10, 2009

Dubai, My, My

The tallest building in the world, but nobody is in it.

It is in the middle of nowhere, with nothing around it. There are no economic factors for building these buildings, just relatives trying to outdo each other.

There is 60% occupancy, and in the last month, there has been a 10% decline in population, yet everywhere you look, there is more capacity going up without pause. I counted a minium of 24 cranes from any point in the city building more buildings.

Most of Dubai's GDP is based on real estate. Once the cards start to fall, if you can't pay your bills you can't declare bankruptcy, it doesn't exist. You either have to leave, or you go to jail.

All of these dooming factors aside, Dubai is a lovely place so long as you stay indoors.

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