World's first climate-controlled domed city to be built in Dubai

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#1
First, I need to qualify that I am not expert.

It seems like every single developer out there is becoming more bold and ambitious in their projects, which worries me a lot.

We know that Singapore is going to have our newest tallest building, called Tanjong Pagar Centre, developed by Guocoland. Over the next year / quarters, there are a number of supply flooding the market. And we know that Hiap Hoe couldn't even secure a sale on their project "Treasure on Balmoral". Challenging times ahead for these people due to Total Debt Servicing Ratio framework.

For Dubai, they are going to create "Mall of the World", involving a STAGGERING 100 hotels, serviced apartments and theme park. It involves a $6.8billion financing over 10 years.

There are also many developments going on in Iskandar, Malaysia and Australia.

I am always a believer that the pace of growth of our stock market must be commensurated by a certain degree of positive REAL economy growth. Likewise, the need for more buildings should be commensurated by the pace of population growth. Increasingly, the correlation seems to be drifting away and becoming more and more disconnected.

The Japanese, European and Americans' central banks have been flooding the markets with cheap money and Jim Rogers called it "artifical ocean of liquidity". Stock markets have done remarkably well, but how about on the economy? Not much. And when the music stops, some of us are going to pay a hefty price.

Is anyone worried for another boom-and-bust cycle yet?

source:
1. http://www.worldpropertychannel.com/asia...e-6852.php
2. http://www.todayonline.com/business/prop...e-deal-you
3. http://rt.com/news/172340-dubai-climate-...lled-city/
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#2
dubai's own oil reserves also depleting estimate by 2016 so before it's completely gone they want to use the current high energy prices opportunity to develop the place.

http://www.financialpost.com/story.html?...0d&k=31244

dubai aim is to be a hub like singapore but they are target the bigger wealthy arab neighbors who otherwise have no place to splash their money due to religious restriction in their own countries.
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