Everybody knew and heard of the ambitious developments projects in Dubai UAE and in China where governments spent billions to promote and construct some of the biggest man-made structures on earth. They even went on to defy mother nature by building their own islands out of the sea, as a play ground for the ultra-rich and their whims for greatness. All of them have now fallen victim to the recession as the regular Joe, with prices going rock-bottom and ambitious plans grinding to a halt.
All these mega-development projects suffered one fault, too much hype. The overspending is based on ill thinking that the money will never run out. Imagine, Beijing’s famed Bird’s Nest Stadium, it’s gonna be converted partly into a mall. After billions of dollars of investment to rush it for one single event. Poor planning you might say or victim of the global slowdown, you be the judge.

This entry was posted on Tuesday, December 30th, 2008 at 9:02 pm and is filed under Facts, General, Information. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.