Why do we have this urge to splurge?
The reason as is shown in a message, aptly shown in Daniel's graphic creation, is clear to those who understand Hokien:
"It's now or never..." Nothing is likely to dissuade those in favour of the ego boosting project, not even the problems faced by Dubai..."Dubai's real estate regulatory body on Thursday accused the Gulf emirate's state-backed master developers of damaging its ailing property market by continuing to build despite a rampant oversupply.
"The master developers should understand, believe, that they are damaging the sector by introducing more supply," Marwan bin Ghalaita, the CEO of RERA said in an interview published by Arabian Business online magazine.
He named troubled Nakheel, the giant property arm of debt-laden Dubai World, as well as troubled Dubai Holding, which is owned by Dubai's ruler, and Emaar, developer of the world's tallest tower, Burj Khalifa."
More where that came from:
The Star: Big developers accused of hurting Dubai property
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