Dubai – a desert city, driven by ambition, huge dream and all things glittering. Anything wrong with it? No. Not at least until we know that Dubai’s explosive growth was too much for them to handle, financial wise. Dubai’s ruler, Sheik Mohammed bin Rashid Al-Maktoum has told his critics to “shut up” and said, there is a recovery plan.
I am not a financial anylyst so I don’t have the exact numbers and situation aside from the ones I read in the news. So many papers and journalists have sensationalized the story by saying, “Dubai is finished”, “Dubai is dead”, or “Dubai is a ghost town”. Personally, I don’t know if Dubai will be finished or if it will die – that is up to the rulers to decide. And after doing so much, I doubt if they will just let it die.
Dubai being a ghost town? Not yet! Far from that. The streets are still teeming with people, there’s still traffic – unless all those people and cars I see are ghosts. Though a lot has been said about construction being halted, I still hear cranes working and hammer pounding from wherever I stand. Buildings are being completed around. And no, there has been no exodus of expats!
With the constant mocks directed to Dubai, with Western countries ganging up this Middle Eastern city, its ruler have mentioned before that it’s because the world doesn’t want to see Arabs succeed. The latest news of this debt crisis with the words “meltdown” or “end of Dubai” justifies this.
But what the world has forgotten is that, Dubai is one of the seven Emirates of the country called UAE (United Arab Emirates). They have forgotten that Dubai’s debt is not even one-tenth of Abu Dhabi’s wealth. (Whether Abu Dhabi will bail out Dubai, that remains to be known, probably after National Day on December 2 when leaders of all 7 Emirates gather and “talk”)
As someone who has lived here for merely three years, I have seen the city grow and the photos of Dubai 10, 20 years ago is amazing. There was nothing here but large areas of sand and a few buildings. The rulers have built it to what it is now. I have confidence that despite the crisis, Dubai along with the other UAE leaders can solve it.