The new Dubai

A Western correspondent in the Middle East sent me this about Dubai (he/she doesn't want to be identified): "It's definitely quite a scene here. The UAE government is now saying that the country's economy could contract this year, but since Abu Dhabi is fully expected to still grow by some 4 percent that means Dubai is seriously dragging the place down. Rents are collapsing as we speak. People are holding back on taking out new rent contracts because properties are expected to be say 20,000 dirhams less per year within two months. The roads have noticeably less traffic on them and the shopping malls are less crowded. Most of the insane projects have been frozen, such as the second palm island and the islands in the shape of the world, and the 'Dubailand' project to build hotels as exact replicas of the main Pyramid at Giza and Eiffel Tower. All of this means that the place has actually become liveable. The prices are becoming reasonable and the traffic is bearable. Knocked down a few notches, it's a pleasant place for a while. But it's still full of construction carried out by people whose homes you never see and there are still plenty people coming here. And Sheikh Mo's book of poetry has now hit the shops."