Khaldoon Khalifa al Mubarak is a man in a hurry. The 31-year-old, American-educated developer steps on the gas of his silver Audi and zooms past a hole in the ground crawling with construction workers - the future home of a $1.3 billion complex featuring three skyscrapers, two five-star hotels, and a souk. The car zips by a new $3 billion hotel that boasts 1,002 Swarovski crystal chandeliers and a gold-leaf dome larger than the one atop St. Paul's Cathedral in London.
In the distance, glittering in the aqua-blue Persian Gulf, are dozens of islands that will one day sprout skyscrapers, hotels, museums, hospitals, and factories financed in part by the government-owned investment company that Khaldoon runs, Mubadala Development. In all, plans call for almost $200 billion to be spent here over the next ten years.
"We move fast," Khaldoon says, his crisp, white headscarf whipping in the wind. "Think about it: How many places in the world can you say, 'I'm going to establish an airline,' and boom, two years later you have 21 planes and 37 destinations? How many places in the world can you say, 'I need 15,000 hotel rooms,' and boom, you have 100 new hotels in the works? How many places can you say, 'I want world-class hospitals, universities, and museums,' and boom, the Sorbonne, Cleveland Clinic, Guggenheim, and Louvre are on the way?"
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