Sunday, January 10, 2010

Burj Khalifa - do we need it?

The world's tallest building, 7 star hotel, world in the sea, palm hotel, etcetera. Do we really need these infrastructure projects in Dubai? In fact does Dubai need it?
There was this spectacular ceremony for the opening of a 900 meter tall building (I call it a purposeless monument) and the opening ceremony was attended by special guests from the Western world & royals of middle east Asia but don't they understand that other than them, no one else can afford to live in that building.

Checkout the opening ceremony video done on money borrowed from cousins.
Dubai is all desert & some oil. I really don't understand why do they keep building these 7 star hotels, huge malls, huge buildings & ice skating arenas in the desert? These things attract only the rich, but the middle class junta want jobs & decent food.
Dubai today is based on the perception that "what could ever go wrong here?" but my question to the royals of Dubai is "What are the assumptions or perceptions under which Dubai might or might not fall down?" No I don't want Dubai to fall, but "do the rulers of Dubai know if their planning about the future of Dubai is correct or wrong?".
It is a city giving employment to many Indians & Pakistanis who send a lot of money back home. If Dubai falls their dreams fall and may be in some cases even families back home might have to take severe actions.
Another issue I want to bring forward is that the Sheikhs & rulers of Dubai need to see that for the survival of Dubai they need more capital everyday & they need source of constant revenue generation. But where will they get the money from? No one is buying any property in Dubai. Dubai doesn't have any oil. There are no new investors (except cousins Abu Dhabi). And on top of all there is no real asset being created which will help in the growth of the nation. In simple words a long term vision is missing for a stable economic survival of a nation.
What about setting up industry there? Why haven't the royals of UAE thought about that? It's totally their view & idea what they want Dubai to become "a tourist destination", "a hotel", "a financial capital of middle east Asia" or "a developed and stable economy". Israel sends fruits and vegetables to Europe and is in the same climate as UAE, can't the government of UAE develop its agriculture industry like that? Can't they develop some date fruit farms for some other industry other than tourism & construction?
It is time that they start thinking differently before they world start taking them differently....


Deepa 11:53 AM, March 10, 2010  

Good one. Couldn't agree with u more...

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