EddieLeon Posted September 27, 2009 Share Posted September 27, 2009 The real world is still ok, but the construction boom that we were enjoying is certainly over. The UAE has $300 Billion worth of construction projects on hold. This includes Dubai's "The World". I bet a few of us here worked on it. It's sad that it won't be completed: The World Canceled Link to comment Share on other sites More sharing options...
neil poppleton Posted September 27, 2009 Share Posted September 27, 2009 The end of the World indeed, it's a tough old world at the minute. Link to comment Share on other sites More sharing options...
Horhe Posted September 27, 2009 Share Posted September 27, 2009 So thats what Nostradamus predicted... still 3 years untill 2012 tough so it is a bit early! Sad story. Link to comment Share on other sites More sharing options...
Brian Smith Posted September 27, 2009 Share Posted September 27, 2009 I stayed at a hotel in Dubai last December for $220/night...I recently checked and the same hotel for the same dates a year later is $70 per night. Just an incredible situation over there. And they haven't even run out of oil yet! Link to comment Share on other sites More sharing options...
Devin Johnston Posted September 27, 2009 Share Posted September 27, 2009 The problem is that they based all of their budgets on $150 a barrel oil, they actually thought that would last. It's sad that economic planners are that short sited or maybe the developers are just that greedy. Link to comment Share on other sites More sharing options...
Columbia_Seafirst Posted September 27, 2009 Share Posted September 27, 2009 I am not a really big fan of the world. I would prefer islands to just look natural instead of replicating things like Palm trees. Still, Dubai has some magnificent architecture. Link to comment Share on other sites More sharing options...
Inxa Posted September 28, 2009 Share Posted September 28, 2009 Does it mean it is stopped forever. Brian - Wow, such a fall in the rates. Link to comment Share on other sites More sharing options...
trino Posted September 28, 2009 Share Posted September 28, 2009 Does it mean it is stopped forever. the articles says that not a single project are cancelled, just delayed. I´m not sure if that includes "The World". BTW that´s a Sheikh quote. Link to comment Share on other sites More sharing options...
Koper Posted September 28, 2009 Share Posted September 28, 2009 So thats what Nostradamus predicted... still 3 years untill 2012 tough so it is a bit early! Sad story. HMMM, makes you think, doesn't it Link to comment Share on other sites More sharing options...
Dave Buchhofer Posted September 28, 2009 Share Posted September 28, 2009 John O’Dolan, who fronted a consortium that bought Ireland in 2007 for $38 million (£27 million), committed suicide earlier this year. wow. Link to comment Share on other sites More sharing options...
wasteland giant Posted September 29, 2009 Share Posted September 29, 2009 the west came and pillaged. the desert + oceans will claim this back over time. It was never sustainable. too much infrastructure. Not enough population. build build build. is anyone really surprised? Link to comment Share on other sites More sharing options...
Tommy L Posted September 29, 2009 Share Posted September 29, 2009 Hmm, strikes me as some sensationalist journo looking for a story. Dont write off Dubai just yet, there's too much capital invested there already for it too just give up the ghost. Maybe profit margins will slim down, but they'll keep going. Link to comment Share on other sites More sharing options...
carlotristan3d Posted September 29, 2009 Share Posted September 29, 2009 Dubai has been the epitome of vanity and greed in the building industry. It'll eventually come down to this, but what is surprising is that people will never learn. On other parts of the world, architects and developers are already planning the 'tallest' building..... Link to comment Share on other sites More sharing options...
Hazdaz Posted September 29, 2009 Share Posted September 29, 2009 Dubai's wealth is not run by oil any more. Sure, much of the initial wealth of the country, and many of it's customer's wealth is built on oil, but as a country today it's not really an oil-based economy, so honestly while some projects might have been canceled, I would think many more are simply on hold til the world economy improves. There might not be the insane boom as in years past, but give it a couple of years and you are going to see some crazy growth there again. Link to comment Share on other sites More sharing options...
wasteland giant Posted September 29, 2009 Share Posted September 29, 2009 Hmm, strikes me as some sensationalist journo looking for a story. Dont write off Dubai just yet, there's too much capital invested there already for it too just give up the ghost. Maybe profit margins will slim down, but they'll keep going. after the stories of heads of companies being thrown into prison, lexuses being dumped while families literally fled... I think its gone. But I could be wrong. Abu dahbi is where its at but they are way more conservative. Link to comment Share on other sites More sharing options...
Brian Smith Posted September 29, 2009 Share Posted September 29, 2009 Dubai's wealth is not run by oil any more. Sure, much of the initial wealth of the country, and many of it's customer's wealth is built on oil, but as a country today it's not really an oil-based economy, so honestly while some projects might have been canceled, I would think many more are simply on hold til the world economy improves. There might not be the insane boom as in years past, but give it a couple of years and you are going to see some crazy growth there again. Dubai's wealth is not run by oil, but you can bet it will have to bail them out of this mess. Tourism is of course their biggest industry, but UAE is very small and recovering from this bust can only come from incredible government intervention...at an expensive price. Link to comment Share on other sites More sharing options...
Frosty Posted September 29, 2009 Share Posted September 29, 2009 Good! I always thought "The World" was an hideous, egotistical glorification of wealth and horrible ecological disaster waiting to happen. The Palm is worse. I find much of the development in Dubai to morally wrong on many levels. Whether its maniacal ego stroking of most of the architects involved, many of whom are attempting to put themselves on the world stage or the slave labour that's building these projects solely so that the wealthy have another location to display their wealth. Link to comment Share on other sites More sharing options...
Nic H Posted September 29, 2009 Share Posted September 29, 2009 +1 what frosty said. im happy this abomination isn't going ahead. it was always a disgusting bloated innapropriate thing to build. Dubai is full of this kind of crap development. i have no time or respect for any of it. Link to comment Share on other sites More sharing options...
Kyle Posted September 29, 2009 Share Posted September 29, 2009 +2 what frosty said. Link to comment Share on other sites More sharing options...
Ernest Burden III Posted September 29, 2009 Share Posted September 29, 2009 Abu dahbi is where its at but they are way more conservative. Abu Dhabi is in full-stop mode, I've heard, as the UAE must use its capital to bail out Dubai. It sounds like Abu Dhabi will be fine, but cannot be building while Dubai crumbles. Its a shame, I was seeing a lot of promising work lining up for Abu Dhabi projects. All put on hold for the time being. Link to comment Share on other sites More sharing options...
Inxa Posted September 29, 2009 Share Posted September 29, 2009 (edited) I recently saw a episode of National Geographics Mega Structures / builds on the start - present wip of The World (ofcourse I might have seen the repeat telecast) It had a small interview with 3 people who bought a part of the World and planned to create Ireland and the dream they shared to create the rocks and natural beauty similar of Ireland. It's surprising to hear one of them committed suicide. It might be the reasons are several. But still surprising. But it's very sad to hear so much money and so much effort have gone to waste as of now. I always thought the sheikhs and the princes from UAE have a load of money to spend, I wonder how did they face credit crunch Edited September 29, 2009 by Inxa Link to comment Share on other sites More sharing options...
Derek Forreal Posted September 29, 2009 Share Posted September 29, 2009 (edited) Dubai is full of this kind of crap development. i have no time or respect for any of it.sadly i have to agree. a great example of when 'more is less'. Edited September 29, 2009 by derekforreal edited grammar Link to comment Share on other sites More sharing options...
EddieLeon Posted September 29, 2009 Author Share Posted September 29, 2009 I agree that in some ways Dubai has come to represent a lot of what was wrong with our approach to development. But, let's not pretend to be innocent bystanders. I bet we all worked on and benefited from some very ridiculous projects in other parts of the world. Miami and Las Vegas probably rank next on the list, so let's spread some of that blame. Link to comment Share on other sites More sharing options...
AndyC Posted September 29, 2009 Share Posted September 29, 2009 Great point Eddie. I was once asked to do some renderings of a huge development just outside of Dubai. I remember a 15 story hotel in the shape of an elephant, a re-creation of the Houses of Parliament, The White House, Golden Gate Bridge and so on, you get the idea. It was literalism gone mad. It saddens me to think this all sits around something beautiful like the Burj Al Arab. I spent many a good weekend sailing with its designer Tom Wright, he had a much different vision than what has happened. I wonder what he would say today? I spent some time in Dubai and remember the stories, people were making considerable profit on their homes before they has even moved in! Madness! Lets hope this will engage a rethink (and possibly some sensible reno, plan b projects for us). Link to comment Share on other sites More sharing options...
Brian Smith Posted September 29, 2009 Share Posted September 29, 2009 I agree that in some ways Dubai has come to represent a lot of what was wrong with our approach to development. But, let's not pretend to be innocent bystanders. I bet we all worked on and benefited from some very ridiculous projects in other parts of the world. Miami and Las Vegas probably rank next on the list, so let's spread some of that blame. Yes, but the big difference as I see it is that we are not privy to the same knowledge as the developers who start their projects. I don't see how our benefiting from a doomed development makes our involvement reproachable in anyway when we have no idea its doomed and have no knowledge of the risks involved and the dirty dealings that might be taking place. Link to comment Share on other sites More sharing options...
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