If there is silver lining to Dubai’s grand building dreams – which left the city-state with a debt mountain of $110bn when property prices crashed – it’s that it now has the region’s best infrastructure: gleaming airports, a brand-new metro and lavish hotels.
As the Gulf emirate rebounds from the slump, it is hoping these facilities will enhance its status as a commercial entrepot. In particular, it wants to persuade the world that it is the ideal location to host the World Expo in 2020, the five-yearly exposition of national pavilions, where states outline their vision for national development.
Competitors include Ayutthaya, Thailand; Ekaterinburg, Russia; Izmir, Turkey; and Sao Paulo, Brazil.
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