The Gulf: Luxury Overdose

January 20, 2008 at 4:24 pm | Posted in Around the World, Eye on Kuwait, Eye on the Gulf, The Luxe Life | 4 Comments
Tags: , , , , ,

 

 dubai_oriantal_sim_city.jpg

downtownburjdubai-banner_tcm3-232.jpg

The Gulf Countries have managed to transform from desert into fantasy world in less than a decade. And they’re still going… Dubai, Qatar, Saudi Arabia, Bahrain, Kuwait and Abu Dhabi are taking turns on creating awe in their multibillion dollar projects. Now we have ski resorts, the highest skyscrapers in the world, safaris, islands, theme cities and almost any other scenario you can imagine in the world. You can find the delights of the most famous countries and cities in the world in the Gulf except maybe the Grand Canyon and the Alps but I’m sure they will find a solution for that soon.

According to various sources, an estimated One Trillion Dollars are currently being invested in the Middle East. A recently published report called “The Middle East Leisure Landscape 2020 Study” by GFF gives a full breakdown on what’s to come. This includes 166 different projects in 13 countries.

The three countries that accounted for the most part of that investment were Dubai with $381.4 billion, Saudi Arabia with $184.4 billion and Abu Dhabi with $131.3 billion.

The top projects being created by the real estate giants Tatweer, Aldar and Emaar include (by order of cost):

1. King Abdullah Economic City, KSA: $120 billion

2. Dubailand, Dubai: $110 billion

3. City of Silk, Kuwait: $ 86 billion

4. The Arabian Canal, Dubai: $ 61 billion

And that’s only the tip of the iceberg, it would take a couple of hours to write all the other projects that are in progress now including “The Universe” which are another set of islands in Dubai, the museums such as “The Louvre” in Abudhabi, the cities, the manmade greenery and so much more.

The transportation is even being improved with each of the Gulf countries investing in Rail systems throughout their growing capital cities.

What is to come, we don’t know… But it seems to be turning out to be the only vacation spot of the future.  Why go to different locations when you can find all the natural wonders of the world in one spot?  More imporantly, how much money do they actually have to keep up the overheads of these mega projects for years and decades to come?  I doubt the breakeven was even considered in most of these cases.

Advertisements

4 Comments »

RSS feed for comments on this post. TrackBack URI

  1. I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.

    Allen Taylor

  2. Thanks alot for your comment & support Allen. I will keep ’em coming. If there is anything special that you’re interested in too, just drop me a line.

  3. Touching on your luxury overdose bit, I just read in the newspaper that there was around a staggering AED1 trillion investment (USD272 Bill) in 2007 for the whole gulf region (Tourism). Amazing isn’t it?

    Well here is another question for you, how much of that do you think was for the UAE alone? Care to take a guess before you read on —— AED858 Bill (USD233 Bill) that’s 85% of the whole region, I mean WOW.. I cant think of anything else to say.

    How much out of that is for Dubai only? Well about half of the UAE spend, which makes it to about AED454 Bill (USD123 Bill). Not surprising for Dubai being the Tourism hub that it is, but if you think about it a bit, that’s like 45% of the entire gulf region FOR 2007 ONLY.

    I only ask that the Sheikhs help a good cause and bestow upon me 0.5% of that amount is that being too greedy?… But seriously Its really great that they are investing so much in their countries and it is admirable, I wish the government of my country, Lebanon, can do half that much.

    Thanks for reading.

  4. interesting insight sunshine…i completely agree with you..i wish a small percentage of this ridiculous amount of money was used for a good cause..i think it mighr even succeed in resolving a few conflicts that our region is suffering from or help in reducing hunger around the world…or…the list goes on..again babycakes thanks for the great article and sushine thanks for the insight..very enlightning


Leave a Reply

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

Create a free website or blog at WordPress.com.
Entries and comments feeds.

%d bloggers like this: