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Anyone really shocked this one's on hold? It's only reason for being was to maintain Dubai's "world's tallest" title. With the Jeddah tower cancelled, there is absolutely no urgency and little other reason for this project to continue.
 

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山姆大大大;154975718 said:
Dubai real estate is now very depressed. Many urban residential buildings are now built over 200 meters of skyscrapers, like Mumbai, Melbourne, New York, and many residential buildings in Dubai have serious fire problems. The most important thing is to drink desalinated seawater and easily lose hair, and the weather is very hot. It is not suitable for human survival, sandstorms and smog are more serious. Moreover, the economic downturn in Dubai has led to fewer and fewer job opportunities, rents and house prices are falling, and neighboring countries are striving to develop their own non-oil economy. Dubai has passed its peak, not to mention the housing bubble in many cities around the world. Very serious, many real estate developers in Dubai are selling houses in China. The most important thing is that Dubai does not have much oil and gas reserves, and Dubai is no match for Doha Kuwait City Abu Dhabi because they have a large amount of oil and gas reserves.
Meh, been there, done that (2009 came and went) ... it's all a cycle.

... as for the desalinated water, no one drinks the tap water in Dubai, and washing the hair with it on my case it was actually beneficial: I was loosing chunks of hair when I was previously living in Vienna (Austria), but 16 - 17 years in Dubai and my hair got really strong. Now back in the old continent, and I see the occasional hair going down the drain.

It's a matter of (organic) chemistry and one's body PH
 

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It was aliens
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That's lovely...

Anyway, not really shocking (the current state) but it would be cool to see this completed at some point.

Anyone really shocked this one's on hold? It's only reason for being was to maintain Dubai's "world's tallest" title. With the Jeddah tower cancelled, there is absolutely no urgency and little other reason for this project to continue.
Right, I think BK will be tallest for a while.
 

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CyberxNuke
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That's lovely...

Anyway, not really shocking (the current state) but it would be cool to see this completed at some point.



Right, I think BK will be tallest for a while.
It seems like Dubai has nothing other than retail/tourism as a source of money. Except to say "the world's tallest skyscraper is in Dubai", nothing fancy about it to be honest. I don't know if people work inside those towers to do business or is just a show off?!
 

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CyberxNuke
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I usually don't defend Dubai but the oil thing is laughable at this point.
1% of its GDP is from oil, the other 99% aren't. If you count gas, that percentage is around 5%.
https://www.bloomberg.com/opinion/articles/2018-01-14/dubai-s-the-very-model-of-a-modern-mideast-economy


source
"Retail" being the source of income! good to know... but...

Except to say "the world's tallest skyscraper is in Dubai", nothing fancy about the project to be honest. I don't know if people work inside those towers to do business or is just a show off?!
 

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"Retail" being the source of income! good to know... but...
Another way to say "tourism", I guess. Just like there must be plenty of airport fees in the "transport" slice of the pie. Not sure where hotel stays are counted. Presumably, "Retail" should really be "retail and service", which would encompass hotels as well.

If you absolutely want to paint a bleak picture, oil is not the way to do so. At least not directly. You may notice, however, that a lot of those categories depend on foreigners coming to Dubai to spend money. Retail, real estate, and transport all include a sizable tourism component, which also is a major driver in construction. And many of those foreigners that come to Dubai come from other Gulf states, whose economy is very oil-dependent. If oil crashes and, say, Kuwait's economy goes belly-up, it will be felt in the Dubai real estate market, with a ripple effect into the construction sector. Dubai itself may not make that much money from oil, but it is dependent on other countries that do.

The link back to Dubai Creek Tower should be fairly obvious. It's not like there is a great domestic demand for another megatall observation tower in Dubai, or that the locals don't have enough luxury apartments to meet demand. It's a bid to court foreign investments, to try to get the richest people in the world to come to Dubai for shopping, maybe to buy an apartment as well. That's how the national economy is fed, and that's the pie Emaar wants to have the biggest slice of.
 

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Yanukovich nash boh
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I usually don't defend Dubai but the oil thing is laughable at this point.
1% of its GDP is from oil, the other 99% aren't. If you count gas, that percentage is around 5%.
https://www.bloomberg.com/opinion/articles/2018-01-14/dubai-s-the-very-model-of-a-modern-mideast-economy


source
Yes, same story like with Aberdeen in Scotland, direct income from oil 1%, income from oil supporting industry - 30%. Same with Dubai, it's not in space, all its income is coming (including retail) mostly from GCC which is heavily relying on oil.
 

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I wonder if this project is "moving along" the way it does, because EMAAR is afraid they might end up in a Burj Khalifa like situation and need someone (Abu Dhabi) to bail them out once again or worse, a half finished mast in the city for years to come, in case Abu Dhabi wouldnt bail them out again, which i kinda dont think would happen.
 

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Nope, The USA,UK,Russia,China and India/Pakistan are big investors (property) and spenders (tourists) in Dubai. KSA is up there as well but the rest of the GCC are negligible in comparison.
 
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