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But Dubai’s got money problems?

by Arkle  |  10 years, 10 month(s) ago

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It’s got the world’s tallest building which opened there earlier this month and also a pile of debt problems. That building had been called the Burj Dubai but at its glamorous, fireworks-strewn launch night the name was abruptly changed to Burj Khalifa, in honour of Sheikh Khalifa bin Zayed al-Nahyan. Now he happens to be the president of the United Arab Emirates and ruler of Abu Dhabi and last month Abu Dhabi gave Dubai a $15billion to stave off the financial collapse that had been predicted with about the same certainty that night follows day. The name change suggests the bailout may have come with strings attached by Dubai’s more conservative – and more wealthy – neighbour but nothing was ever going to stand in the way of Meydan’s opening night.

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