This is a fantastic, scary, must-read article for anyone and everyone who has wondered about Dubai, the phenomenon.
Dubai was meant to be a Middle-Eastern Shangri-La, a glittering monument to Arab enterprise and western capitalism. But as hard times arrive in the city state that rose from the desert sands, an uglier story is emerging.
But something has flickered in Sheikh Mohammed’s smile. The ubiquitous cranes have paused on the skyline, as if stuck in time. There are countless buildings half-finished, seemingly abandoned. In the swankiest new constructions â€“ like the vast Atlantis hotel, a giant pink castle built in 1,000 days for $1.5bn on its own artificial island â€“ where rainwater is leaking from the ceilings and the tiles are falling off the roof. This Neverland was built on the Never-Never â€“ and now the cracks are beginning to show. Suddenly it looks less like Manhattan in the sun than Iceland in the desert.
The entire article is here.