Quote:
Originally Posted by zagreb
Both places have more than enough money to build these monsters, you only need so much to get one built, so the Saudis have more money, but Dubai uses there's much more effectively, by fare, and if the UAE's economy keeps rising the way it does bringing in non oil income the way it does, it wont take long for them to pass the Saudis economy. Having alot of money makes you lazy, the Dubai story, and success came with other people's money, they have the BRAINS, and there standard of living is by far better.
What's important is who is more clever to pull the higher one off, and Im sure Dubai 's will be more profitable, remember you got to sell 19,000 units, who is really going to flock out to Jeddah and spend money when you got Dubai, and it's life style.
For you American's to under stand it's like buying a condo in Buffalo, or Cleveland, compared to Miami, or Las Vegas, it's a no brainer.
Not to mention, Dubai has alot more experience doing high rise's now, and a 2.4 kilometer building in the pipe line, food for thought.
My money's on Dubai all the way, what's going to be interesting is when they boith surpase the 1000m barrier, and there watching to see what the other guy's going to do next.
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I disagree, there is no way the Dubai economy can ever surpass the Saudi economy. Saudi Arabia's population is 10 times larger and it's GDP five times so. Your contention that Dubai uses it's wealth more effectively is also, in my estimation, wrong; Dubai, as you probably know, has become a by word for excess. A lot of Dubai's wealth has been made by catering to Saudi clients.
ALL oil producing nations are trying to diversify their economies, Dubai chose to welcome tourists, Saudi Arabia is trying to do so by developing other sectors, IT in particular.
Also, Jeddah and Dubai do not compare. Jeddah has been the gateway for Makkah and Madina for, nearest makes no difference, 1,300 years and while you might not be interested in moving here there are more than enough people willing to invest in Jeddah. And even though I do not doubt for a second that the tower is intended solely to stoke Waleed bin Talal's ego, I also do not doubt that it is also financially feasible.
It's been quite some time since I've seen so much ignorance masquerading as fact packed in a single post. Thank you for the brain exercise. :-)
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