It's almost as if the tallest building in the world has been hiding behind a largest sheet in the world with all the announcement that the Burj Dubai is to be unveiled to the world on Monday. Actually it is quite the opposite, as The Burj Dubai has been used as a symbol of the the days of supposed extravagance that has now resulted in the doom days. It wasn't exactly like that but you get what I mean.
But it is no mean feat - it is a fantastic achievement - an 800m high building, higher than any other building in the world. “The tower embodies Dubai’s determination and optimism of being a truly world city and a positive symbol of the whole Arab world,” said Mohamed Alabbar, the chairman of Emaar Properties, the developer behind the project. “Burj Dubai is a great achievement of a successful global collaboration and that is what Dubai is all about. We live in a globalised world and through collaboration we can push the boundaries and achieve the impossible.”
Gloat you may like - but unfortunately every single news story will be peppered with words such as bailout, bond repayment, credit crunch etc. There will be an extravagant party no doubt, but for the short to medium term, this building will symbolise the downturn in Dubai, especially as its floors remain empty.
But this is not the first time that tall buildings have been used to represent the downturn. In fact many buildings have been used to represent economic crises over the last century in a 1999 paper by Andrew Lawrence of Deutsche Bank: The Skyscraper Index: Faulty Towers:
Well long after the soothsayers cease the "I told you so"s, the Burj Dubai will still remain. There way be taller buildings and bigger crises. But we live with one of each at the moment. Enjoy the fireworks!Billion dollars or bust – the Burj party goes on in Dubai
Skyscrapers and Business CyclesDubai financial uncertainty overshadows tower opening
Labels: burj dubai, Dubai, dubai credit crunch