Abu Dhabi and Dubai Blog

A piece from the New York Times on the crashing of Dubai’s economy for the many foreigners who have been living in an economic bubble of artificial wealth and lavish spending. Also discusses the tale that the Palm Jumeirah hotel may in fact be sinking, and is ridden with cockroaches.

Some things are clear: real estate prices, which rose dramatically during Dubai’s six-year boom, have dropped 30 percent or more over the past two or three months in some parts of the city. Last week, Moody’s Investor’s Service announced that it might downgrade its ratings on six of Dubai’s most prominent state-owned companies, citing a deterioration in the economic outlook. So many used luxury cars are for sale , they are sometimes sold for 40 percent less than the asking price two months ago, car dealers say. Dubai’s roads, usually thick with traffic at this time of year, are now mostly clear.

http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=2&hp

More shots from the cataclysmic opening of the Palm Jumeirah.

[Show as slideshow]

Here is the amazing opening of Dubai’s Palm Jumeriah hotel, not to be confused with the 1945 Allied bombing of Dresden.

The pop singer Rihanna will not perform at a concert in Dubai scheduled for May 28, the same date that a court hearing is scheduled in Los Angeles for her companion, Chris Brown, The Associated Press reported.

http://www.nytimes.com/2009/05/06/arts/music/06arts-RIHANNACANCE_BRF.html?ref=arts

A brief clip from a Discovery show that has a lot of good shots of the work going on in the city.