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Tag Archives: dubai mall

I visit Dubai almost monthly and I’ve never seen it this quiet.  The airport, the roads, the shops and restaurants – all seem to be looking for disappearing trade.  Taking into account the financial crisis around the world, and how much Dubai relies on foreign trade, it’s not a surprise.   The place has been exploding into something much larger than its own foundations, and this was simply unsustainable.

There are challenges and many projects are being shelved, but this is a breathing time for Dubai that is well overdue. There is also a shy positive feeling when you talk to business leaders.  I saw a manufacturing company, a petroleum terminal manager and a banker.  All agreed that this is not a collapse but a correction.  A correction that Dubai has needed for some time.  A moment for reflection to avoid going too far (more than now). 

Signs of progress are as visible as the cancelled projects.  I saw a train moving on the tracks at Sh Zayed Road.  On Monday, there was a visit  by the leader of the UAE to all the major Dubai projects.  It was a clear signal to the region, and the world, that Abu Dhabi stands behind what Dubai is doing.  Sure, they will probably buy a nice portion of it, but I hope it’s a clear indicator that this magnificent ship on the Gulf will continue to sail.