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READ THIS ARTICLE REGARDING DUBAI! PHENOMINAL MONEY FLOW THERE!


Could Dubai become one of the most important cities on earth?

DUBAI - Dubai is growing faster than any city on earth, spending mind-boggling sums on a construction program that is nothing less than dazzling. But what is truly impressive is the scale of its ambition. Could it become the one of the most important places on the planet?

Dubai is growing faster than any city on earth. “Mushroom City”, Ravi Piyush, a plumply content dealer in the Gold Souk, said to me. “Nothing today, everything tomorrow.” The World Bank reckons that the reconstruction of Iraq is going to cost $53bn. Here, along the strip of footballer-friendly sand that stretches 25 miles or so along the shores of the Persian Gulf, there is, at a rough estimate, about $100bn worth of projects either underway or planned for the near future. That is a numbing figure, ungraspable. It is the equivalent of every single dollar invested in the United States from abroad last year; almost twice the foreign investment in China.

There’s to be an underwater hotel ($500m). One indoor ski resort, with real snow and its own black run, exists already, a weird, looming presence on the city’s southern skyline. There is to be a second, with a revolving mountain. Plans are mooted for a Chess City, with 32 tower blocks of 64 floors, each in the form of a chess piece. There’s to be a 60-floor apartment block in the shape of Big Ben. One company selling flats is giving away a free Jag with each one. There will be a pyramid and a building called Atlantis that will cost $600m and include a “swim-with-the-dolphins encounter programme”. An Aviation City and a Cargo Village, an Aid City and a Humanitarian Free Zone, an Exhibition City and a Festival City, a Healthcare City and a Flower City, a $4bn extension to the airport and another entirely new airport along the coast towards Abu Dhabi, for which no figures are available but you can take a guess at a few billion: six runways, annual capacity 120 million passengers, 12 million tonnes of cargo.

Middle East’s answer to Disneyland
The Middle East’s answer to Disneyland, called Dubailand, which is far larger than Monaco, is costing $4.5bn. It will employ 300,000 people in the various joylands, servicing 15 million visitors. A new urban railway, with 37 stops, begins construction shortly. Dubai is to have its own Silicon Oasis ($1.7bn) for computer companies. A mixed development called Dubai Waterfront/Arabian Canal covers an area larger than Barbados and will house, when completed ($6bn), more people than Paris.
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