PPRuNe Forums - View Single Post - Goodbye Dubai: World's Worst Business Idea
Old 19th Feb 2009, 02:15
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L1011
 
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Fatigue flyer I do agree. Us Greybeard's do miss the 'old Dubai'. The demolition of CBV was the precursor for the plastic horrors that followed. Most EK pilots never knew the charming seaside city that kept us here.

Hubris is the best word to describe it all.

Mr. Stick - the construction of the 'world's tallest building' is almost always a sign that the crash is coming. The Empire State, WTC, KL Petronas were all completed amidst a real-estate debacle. Over-tall buildings are a symptom of a bubble, easy credit and ridiculously inflated values. They almost never pay for themselves, and developers almost never learn from past mistakes.

The scary part is that KL has never really recovered and it is over 10 years since the crash there.
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