Much has been spoken about the demise of Dubai. Whichever camp you are in, you must surely see that there is a blip of some sort. At least, in property terms, there has been a slow down in the wowness that we have seen in recent years. What exectly is the reality? Unless you are in Dubai, you can not know the reality. And on occasion you are painted a picture - which shows the reality is being fudged. Even if you think that something is not on the cancelled projects list, it may be presented to you as in process - when in fact it is still a pile of rubble:
Supposedly, this project is doing well during the current climate. But it consumes no resources, no concrete or fossil fuels or electricity. That's because it doesn't exist.

It appears that the developer, Al Fajer Properties, has sold £428 million worth of units and is updating their website with pictures of a neighbouring project. According to the Independent,
The pictures appeared in an advertising campaign in a Dubai-based national newspaper last July, with the caption, “Shot at location on 10th June 2008. Ebony & Ivory - Jumeirah Lakes Towers.” The two page spread included the seals of Dynasty Zaronni and Al Fajer Properties. Buyers were not amused: They would not have got my money if they had not shown me fraudulent pictures.” said one. “A lot of people would not have bought had they not thought the project was in an advanced stage of construction.” said another.
The government isn't too happy about this either, and has clamped down on any information about it.
“I had written half of the article when I was told by my editor to stop,” said a Dubai-based national newspaper reporter who attempted to cover the story. “The investor’s group have records of payment, and it’s obvious that they have been shafted, but we can’t write about it.”
More from the Indepedent (surprise, surprise) By Heerkani Chohan and
Treehugger by Lloyd Alter.
That's not great press, but at the other end of the scale is the 014:
O-14, a 22-story commercial tower, is slated for completion this autumn. The most striking feature is a 16-inch-thick concrete shell, perforated by over 1,300 openings--which the architects liken to lace. The skin also has high performance built in: It functions as an exoskeleton, allowing the interior of the building to be column free. It also regulates the buildings temperature, by shielding it from sunlight and creating a "heat chimney." Hot air rises in the gap between the interior and exterior facades, and the moving air cools the glass surfaces inside. Granted, the architects haven't published exact figures on exactly how much energy this effect will save, but it is heartening to see such an ancient technique being revived in new buildings.

O14, a 22-story tall commercial tower perched on a two-story podium, broke ground in February 2007, and comprises over 300,000 square feet of office space for the Dubai Business Bay. O-14 is located along the extension of Dubai Creek, occupying a prominent location on the waterfront esplanade. O14 is sheathed in a forty centimeter-thick concrete shell perforated by over 1,300 openings that create a lace-like effect on the building’s façade.
The concrete shell of O14 provides an efficient structural exoskeleton that frees the core from the burden of lateral forces and creates highly efficient, column-free open spaces in the building’s interior. The future tenants can arrange the flexible floor space according to their individual needs.

The shell is not only the structure of the building, it acts as a sunscreen open to light, air, and views. The openings on the shell modulate depending on structural requirements, views, sun exposure, and luminosity. The overall pattern is not in response to a fixed program, (which in the tower typology is inherently variable), rather the pattern in its modulation of solid and void will affect the arrangement of whatever program comes to occupy the floor plates. A space nearly one meter deep between the shell and the main enclosure creates a so-called “chimney effect,” a phenomenon whereby hot air has room to rise and effectively cools the surface of the glass windows behind the perforated shell. This passive solar technique essentially contributes to a natural component to the cooling system for O14, thus reducing energy consumption and costs, just one of many innovative aspects of the building’s design.
The shell is not only the structure of the building, it acts as a sunscreen open to light, air, and views. The openings on the shell modulate depending on structural requirements, views, sun exposure, and luminosity. The overall pattern is not in response to a fixed program, (which in the tower typology is inherently variable), rather the pattern in its modulation of solid and void will affect the arrangement of whatever program comes to occupy the floor plates. A space nearly one meter deep between the shell and the main enclosure creates a so-called “chimney effect,” a phenomenon whereby hot air has room to rise and effectively cools the surface of the glass windows behind the perforated shell. This passive solar technique essentially contributes to a natural component to the cooling system for O14, thus reducing energy consumption and costs, just one of many innovative aspects of the building’s design.
The holes are achieved by introducing computer numerically cut polystyrene void forms into the rebar matrix, and sided with modular steel slip forms prior to the concrete pour. Super-liquid concrete is then cast around this fine meshwork of reinforcement and void forms resulting in an elegant perforated exterior shell.

The project has generated extraordinary international interest in the architectural press as it is among the very first innovative designs to be constructed among a sea of generic office towers that have come to be the standard in Dubai’s current building boom. O-14 was recently featured in ‘Impossible City’, an hour-long television documentary about the recent growth in Dubai, which was produced by CBS News and aired in the U.S. on the Discovery Channel in October, 2008.
From ArchDailyThe latter is an achievement, but I bet those invested in off plan property are a tad worried. Don't invest in something you can't feel may be investment advice that seems a little dated, but dotcom bomb, real estate bubble and banking debacles all are a little guilty of not following that piece of advice.