dr ray Posted January 24, 2009 Share Posted January 24, 2009 (edited) Work on the worlds tallest building was halted as the recession hit Dubai. As unemployment looms for foreign workers 3000 cars are abandoned at the airport by people fleeing the country. This is what happens to a country which stakes its future on property speculation, financial services and shopping (sound familiar) Link Link 2 about tallest building Edited January 24, 2009 by dr ray Quote Link to comment Share on other sites More sharing options...
workingnomad Posted January 24, 2009 Share Posted January 24, 2009 That's not true. I flew over the Burj today and it was swarming with workers. Quote Link to comment Share on other sites More sharing options...
copydude Posted January 24, 2009 Share Posted January 24, 2009 That's not true. I flew over the Burj today and it was swarming with workers. I've heard of drive-by estimates, but fly-by? Do you have a VI, by any chance? Quote Link to comment Share on other sites More sharing options...
aa3 Posted January 24, 2009 Share Posted January 24, 2009 Dubai does some amazing things and I love the pro-development attitude of their leader... amazing things like the Palm Islands, the great desalination plants using the latest reverse osmosis technology, literally turning places they live into Oasis'.. and great power projects. But what never made sense to me was these massive condo towers. I always asked who is going to live there once the boom ends. The uber rich UAE citizens are going to live in palaces with estates. They will have guest houses on the property for the guest worker staff to live in. And there is only 800,000 citizens there, but they were building enough condos for millions of people. The Palm and World Islands made sense because the rich citizens could live in those homes and enjoy ocean front. With the Islands they actually increased the coastline by a factor of like 10 or more.. plus formed beautiful protected inlets and such so people could enjoy the ocean more. But the big part of the speculation was these endless condos and office towers. Quote Link to comment Share on other sites More sharing options...
Ted Posted January 24, 2009 Share Posted January 24, 2009 I've heard of drive-by estimates, but fly-by?Do you have a VI, by any chance? Quality Quote Link to comment Share on other sites More sharing options...
Andrushka Posted January 24, 2009 Share Posted January 24, 2009 The article is about the Nakheel Tower (planned to be the world's tallest building), not the Burj Tower which is currently the world's tallest building. Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted January 25, 2009 Share Posted January 25, 2009 Work on the worlds tallest building was halted as the recession hit Dubai. As unemployment looms for foreign workers 3000 cars are abandoned at the airport by people fleeing the country. This is what happens to a country which stakes its future on property speculation, financial services and shopping (sound familiar) Link Link 2 about tallest building UK reverting to an ocean of water. The country drowned and disappered under new printed money. Dubai BTW is still there - if you managed to take the last flight off the submersible empire. Quote Link to comment Share on other sites More sharing options...
_w_ Posted January 25, 2009 Share Posted January 25, 2009 I've heard of drive-by estimates, but fly-by?Do you have a VI, by any chance? So that's what Bush was doing in New Orleans! Quote Link to comment Share on other sites More sharing options...
bkkandrew Posted January 25, 2009 Share Posted January 25, 2009 I fly into or out of Abu Dhabi about 4-times per month and I normally fast forward the advert blurb on the airline (Etihad) movie system, but I caught the main advert this time - for a property company. Their logo? "Building beyond possibilities". Now, I am sure that when the tag line was adopted, this seemed reasonable, even 'cool'. Now it seems actually quite apt (in the literal sense). Perhaps the ad people were just simply ahead of their time... Quote Link to comment Share on other sites More sharing options...
George Sore-Ass Posted January 25, 2009 Share Posted January 25, 2009 (edited) I said right from the time Nakheel announced their 1mile high tower that it would never be built. The market was already crashing then, liquidity had dried up. They insisted at the time that it would be built, but now they just look even more stupid. I don't think Dubai will revert to a heap of sand. I do think that prices will crash spectacularly in a way that will put Britain to shame, 80-90%. All the 'luxury' blocks in the Marina will end up being cheap accommodation for asian workers at Internet and Media city and the surrounding area rather than homes for western expats. Many workers are already leaving as jobs are lost, the population they were boldy predicting would continue to rocket will start to shrink and suddenly the surplus of apartments will be laid bare and rents are already crashing. Commercial rents will crash too and eventually it will reach a point where it is cheap enough that some international companies start to think about coming back. The most stupid thing was that Dubai actually believed it could be a long term sustainable business centre and have eye-popping rents and costs at the same time. They did not any any time seem to realise that the absurd real estate costs would just price every other business out and pretty soon they'd be left with a train wreck. Edited January 25, 2009 by George Sore-Ass Quote Link to comment Share on other sites More sharing options...
hayder Posted January 25, 2009 Share Posted January 25, 2009 left dubai this morning with the wife and kids (for good). quit my job last week and sold everything. I don't know what I'll do next but it will sure as hell be in a nicer place than dubai. by the way, the airport (terminal 1) was pretty deserted, except the packs of 3rd world migrant workers sleeping on the floors. the usually teeming gold counter was absolutely deserted during peak time. interesting times. Quote Link to comment Share on other sites More sharing options...
Umiapik Posted January 25, 2009 Share Posted January 25, 2009 My company (previously) did a lot of business with Dubai. Not so much now! We're a luxury goods manufacturer and the Middle East market has gone from being one of our most reliable to being on life support. One area sales manager in the region has admitted that he expects sales to be down 50% on the plan for this year. Dubai always subsisted on an endless stream of money and speculative bullsh*t. Remove that and the place collapses pretty much instantly. Quote Link to comment Share on other sites More sharing options...
Tokyo_Expat Posted January 25, 2009 Share Posted January 25, 2009 (edited) I once made the mistake of doing a 4 day lay-over in that place....Bloody awful - you're filled with a sense of existential angst the moment you get off the plane. A disgusting testament to mindless consumerism, over-development, racism (white foreigners are accorded top class ass-licking treatment, brown-skinned foreigners are treated like chattel), islamic hypocrisy and egos run wild. Hope it bloody well turns into sand forever :angry: Edited January 25, 2009 by Tokyo_Expat Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted January 25, 2009 Share Posted January 25, 2009 I rmemeber reading that Jim Davidson lives in Dubai... ...which is as good a reson as any not to go anywhere near the place Quote Link to comment Share on other sites More sharing options...
profitofdoom Posted January 25, 2009 Share Posted January 25, 2009 I rmemeber reading that Jim Davidson lives in Dubai......which is as good a reson as any not to go anywhere near the place The best quote I heard summed up the place in four words "Blackpool for lottery winners" Quote Link to comment Share on other sites More sharing options...
Shmoo Posted January 25, 2009 Share Posted January 25, 2009 Work on the worlds tallest building was halted as the recession hit Dubai. As unemployment looms for foreign workers 3000 cars are abandoned at the airport by people fleeing the country. This is what happens to a country which stakes its future on property speculation, financial services and shopping (sound familiar) I heard from someone in Dubai, that the reason for people fleeing the country is because debt is illegal. Therefore, if you can't meet your obligations they throw you in jail. People are 'doing one' before the establishment find out that they're out of money. Quote Link to comment Share on other sites More sharing options...
Bare Behind Posted January 25, 2009 Share Posted January 25, 2009 Well I'm going to defend it! Dubai is not that different to any other western city with regards to its bubble. The main difference you get laid off here you go home. In the Uk you are home. Lets remember where Dubai has come from in 25 years, yes they have made mistakes but they have also got alot of things right. I have laid off 80% of the staff out here. (in construction) most of them middle east expates, Jordanian, lebansese etc. It was difficult but ultimately the work practices with reagrds to construction consultancy are twenty years behind GB. I came here in August 08, knowing this was coming but the speed surprised me, however, i feel somewhat embarrased as alot of people working out in Dubai (westerners ) were batting way above their average, and this is somewhat hastened the down fall. As for Duabi itself, it is a fascinating vibrant, safe, clean city. We all know the rules and we should abide by them. I have seen many things that would not be tolerated in the UK and are 'accommodated here. I didn't come to Dubai to make lots of money. I came because I felt I had a better chance of financial survival out here than in the Uk. I was offered 3 UK jobs before taking the Dubai offer. I know for sure that all three UK companies would have laid me off by now. As regards the projects - money and funding are tight to none existant. However, I only know of two projects that have been stopped mid construction. In the UK are know of streets where more projects have stopped half way up. As regards the immigrant workers - it is difficult getting your head around it - we couldn't do it just visiting your children 1 month every year for alot of these workers it is there only option but to put it into perspective these guys can work in Dubai for 5 years, send money home and afford to buy a home when they go back to sri lanka or india, something which the average westerner couldn't do. Comments from posters like hayder annoy me. It is utter crap! They have either been laid off or its all b*llocks. Notice period? Selling everything off in a week? Dubai has many faults. They can claim naviety and greed. In the UK we do not have the luxury of blaming naviety. bb - posted from a view of the burj dubai in 22 degrees of warm weather. Quote Link to comment Share on other sites More sharing options...
newbonic Posted January 25, 2009 Share Posted January 25, 2009 The best quote I heard summed up the place in four words "Blackpool for lottery winners" I recall reading that Dubai is very popular with Premier League footballers and their WAGs - which is as good a warning sign to not go as any! Quote Link to comment Share on other sites More sharing options...
Tokyo_Expat Posted January 25, 2009 Share Posted January 25, 2009 The best quote I heard summed up the place in four words "Blackpool for lottery winners" Haha, great quote! Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted January 25, 2009 Share Posted January 25, 2009 Well I'm going to defend it!I have laid off 80% of the staff out here. (in construction) most of them middle east expates, Jordanian, lebansese etc. It was difficult but ultimately the work practices with reagrds to construction consultancy are twenty years behind GB. I came here in August 08 So, has your total six months experience gone well? Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted January 25, 2009 Share Posted January 25, 2009 The best quote I heard summed up the place in four words "Blackpool for lottery winners" Hahahahaha. Brilliant. Quote Link to comment Share on other sites More sharing options...
workingnomad Posted January 25, 2009 Share Posted January 25, 2009 You can't even have a little slap and tickle on the sand and beer is super expensive. 3 hours in transfers was enough for me,. Quote Link to comment Share on other sites More sharing options...
thod Posted January 25, 2009 Share Posted January 25, 2009 But there is no reason for Dubai's existence. Its in the middle of a desert built with a one off energy money bonanza. You can see why Singapore is build where it is. A large part of the world shipping has to pass through the straights. You can see why London was built at the mouth of a river for the same reason. Other cities sit in the center of grain producing regions to facilitate that trade. Yet Dubai? its a white elephant, a folly built in the sand to satisfy the vanity of some over rich shieks. Mving millions of tons of sand into the ocean in the form of palm tree so that they can have waterfront when there is plenty of open dessert says they have more money than sense. Quote Link to comment Share on other sites More sharing options...
ajay Posted January 25, 2009 Share Posted January 25, 2009 left dubai this morning with the wife and kids (for good). quit my job last week and sold everything. I don't know what I'll do next but it will sure as hell be in a nicer place than dubai.by the way, the airport (terminal 1) was pretty deserted, except the packs of 3rd world migrant workers sleeping on the floors. the usually teeming gold counter was absolutely deserted during peak time. interesting times. ...............the people leaving dubai now do they have any savings and do they have jobs to go to. Quote Link to comment Share on other sites More sharing options...
newbonic Posted January 25, 2009 Share Posted January 25, 2009 But there is no reason for Dubai's existence. Its in the middle of a desert built with a one off energy money bonanza. You can see why Singapore is build where it is. A large part of the world shipping has to pass through the straights. You can see why London was built at the mouth of a river for the same reason. Other cities sit in the center of grain producing regions to facilitate that trade. Yet Dubai? its a white elephant, a folly built in the sand to satisfy the vanity of some over rich shieks. Mving millions of tons of sand into the ocean in the form of palm tree so that they can have waterfront when there is plenty of open dessert says they have more money than sense. Dubia 2100: I met a traveller from an antique land Who said: Two vast and trunkless legs of stone Stand in the desert. Near them on the sand, Half sunk, a shatter'd visage lies, whose frown And wrinkled lip and sneer of cold command Tell that its sculptor well those passions read Which yet survive, stamp'd on these lifeless things, The hand that mock'd them and the heart that fed. And on the pedestal these words appear: "My name is Ozymandias, king of kings: Look on my works, ye Mighty, and despair!" Nothing beside remains: round the decay Of that colossal wreck, boundless and bare, The lone and level sands stretch far away. Percy Bysshe Shelley, published in 1818 Quote Link to comment Share on other sites More sharing options...
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