The Dubai business community has been left uncertain of what to think of a series of mega project announcements this week from the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum.
Some fear a return to the runaway project launches of the 2003-8 real estate boom, others think the government is launching projects that will never happen, or at least only slowly and on a much smaller scale than past mega projects.
The go ahead for the Mohammed bin Rashid City with its huge central park and the world’s largest mall has brought back worries about massive off-plan sales and property speculation. But it is a joint venture with Emaar Properties whose project roll-outs have always been cleverly timed and well executed.
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