Monday 30 November 2009

Risk, opulence and reality in Dubai

Dubai is a clever blend of audacity and architecture, a shiny monument to the egos and ambition that turned a tiny emirate into a Middle East financial giant. Russian oligarchs stroll along man-made islands shaped like palm trees, and sheiks race down a ski slope built inside a shopping mall.

Lacking the oil reserves of the emirate's neighbors, Dubai's ruling family created a parallel economic reality fueled by real estate, international investment and the art of the possible. The emirate was fashioned into a sleek cityscape of startling images: Islam balanced against the seduction of Western capitalism, and tribal traditions brushing the fleeting trends of globalization.

Cranes like countless arms moved across a skyline that grew more crowded by the day, if not the hour. The world's tallest building went up, highways looped through the desert, the airport never closed. Dubai expanded into a commerce crossroads for Asia, Europe and America, a place of cigar salons, horse races, a seven-star hotel and suitcases full of money.

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