In 2019, the United Arab Emirates released a video of a futuristic tower called the Burj Jumeirah. This was supposed to be 550 meters tall, an astonishing height with big parties at the top, panoramic views of Dubai and an astonishing design. Construction started in 2019, before being postponed in 2020 and it has never since restarted. Only a year ago, it was deleted off the website of the architects. There was no press release about this project being postponed or cancelled and it has remained a mystery.
In 2019 the UAE Government has started to slow down on skyscrapers like these. This is because the prices of office space and homes in Dubai have been falling since 2014, since the supply in Dubai has risen and the demand hasn’t. That’s why Dubai has been slowing down on these projects. But could people lose interest in Dubai if more megaprojects are cancelled? Other countries like Qatar and Bahrain have similar rich communities of people trying to avoid tax, but the only thing separating them from Dubai is its fame. Dubai needs to supply money to the government from tourism.
Saudi Arabia‘s ”The Line”
In 2008, Dubai had to hold back on multiple projects as well, due to the economic crisis. After a big loan, the UAE still built the Burj Khalifa while being tight on money in the end. Since then, the Buraj Khalifa is still the tallest building in the world and has brought millions -if not billions- of dollars to the Economy of the UAE. In recent years, we have seen covid. This halted the Economy in Dubai due to lack of tourism and recently, the oil and gas price has fluctuated, giving it‘s competitors like Kuwait, Saudi Arabia and
Qatar more money to build their own skyscrapers and man-made islands.
Since the 1990s, Dubai has spiked in popularity and countries with more money like Saudi Arabia are trying to copy Dubai’s success. Saudi Arabia has launched many megaprojects to draw tourists such as the red sea project and recently they have started Neom, a group which builds cities like the Line. The Line will be a linear city 170 kilometres long, 200 metres wide and 500 metres in height, taller than the Empire State Building. It is supposed to be finished in 2030 and construction has already begun. It is supposed to be 100% green, and everything will be accessible within a five-minute walk. Dubai has nowhere near enough money to launch projects like this. Qatar is also building Lusail City, a city just outside of Doha where the World Cup final stadium was built. This project will cost them only 45 billion dollars but will still increase tourism and business opportunities. Right now, the competition between these three countries is immensely high and the odds aren’t in Dubai’s favour. They may need to build something like the Burj Khalifa soon.
The Burj Jumeirah
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If you enjoyed reading this article please consider reading some of my others, for instance these two about the Economic Miracle of Singapore and the world cup host country Qatar.