Dubai on hold

Many projects put on hold until financial stability returns.

While the likes of Qatar and Abu Dhabi have been relatively sheltered from the recent global economic crisis thanks in some part to their gas and oil wealth, respectively, neighboring Dubai has been much harder hit.

For years, the glitzy emirate was a byword for growth and prosperity. Real estate developers outdid each other to build the world’s tallest tower, biggest mall and most luxurious hotel. U.S. film execs soon got in the act with Universal, Paramount, Marvel and DreamWorks Animation all announcing theme parks in the emirate’s mammoth Dubailand.

Many of those projects have now been put on hold until financial stability returns.

But while some may have written off Dubai’s ability to recover from its current difficulties, others are remaining more sanguine in their long-term view.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading