4-5 years ago, Dubai was booming and it was anything goes. Sniffing a way to make some quick big bucks, so-called architects and urban planners from, especially, Scandinavia, joined in the gold rush.
Hookers from Europe and Eastern Europe did a roaring trade and hotels charged six-star room rates.
Dubai looked invincible and the financial hub of Asia as bloated big players like The Donald came to fawn at the feet of Sheik Mo and see what he could get. The Boris Becker Tower stood next to the Bjorn Bjorg Tower.
(Source: Property Portal)
Then, boom went bust and Sheik Mo has been left with a ghost city and the albatross that is the Meydan racetrack where the prize money might be the highest in the world, but where the racing is absolute crap and with very little interest in punting.
We go to watch the fireworks and the pretty young things who make it over for the races and are then gone.
(Source: Dubai Race Night)
The nouveau riche can buy everything except taste and China today is on that cusp of class and crass.
When we see buildings like these below we cringe as it reminds us of booming Dubai.
But, unlike Sheik Mo, we very much doubt that the Chinese leaders will ever tolerate anything that leads to so much ostentatiousness that villagers from the provinces come to take a look, don’t like what they see and storm le Bastille.
And we are betting that Sheik Mo’s problems are not over.