06.12.2012 - Dubai sets out on another building boom
Seeking to cement its position as a Middle East center for transport and tourism, Dubai has unveiled several grandiose construction projects that bear some of the hallmarks of the debt-laden boom years that nearly brought the emirate to its knees. Last month, Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum ordered the construction of a new city development named after himself, a project that could cost $10 billion, according to some estimates. It envisages 100 hotels, the world's largest shopping mall, parks, art galleries and exhibition centers. Soon after, he announced plans for a $2.7 billion leisure complex of five theme parks...............................................Full Article: Source
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