Details
| Original language | English |
|---|---|
| Pages (from-to) | 46-59 |
| Number of pages | 14 |
| Journal | Le Journal Spéciale'Z |
| Publication status | Published - 2011 |
Abstract
This extraordinary economic success suddenly came to a halt in 2009: shareholders that never intended to own a Palm villa were unable to resell their holdings. In the aftermath of the financial crisis, the emirate, including the Palm’s state owned developer, Nakheel, faced bankruptcy, bringing the planned Palm trilogy to a stop.
ASJC Scopus subject areas
- Engineering(all)
- Architecture
Research Area (based on ÖFOS 2012)
- TECHNICAL SCIENCES
- Construction Engineering
- Architecture
- Urban design
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In: Le Journal Spéciale'Z, 2011, p. 46-59.
Research output: Contribution to journal › Article › Transfer › peer review
}
TY - JOUR
T1 - Save the Palm
AU - Quednau, Andreas
PY - 2011
Y1 - 2011
N2 - In 2006, Palm Jumeirah was completed: 1350 villas and 2650 apartments ready for occupancy. Dubai, a rising tourist destination, had written a clear, iconic message into the satellites’ skies:‘Here we are, the 8th world wonder!’With these manmade islands the small emirate would multiply the length of its coastline by thirty, creating real estate that could be sold at waterfront prices. During construction, and as a result of intensive marketing, these property values tripled: a feast with many winners.This extraordinary economic success suddenly came to a halt in 2009: shareholders that never intended to own a Palm villa were unable to resell their holdings. In the aftermath of the financial crisis, the emirate, including the Palm’s state owned developer, Nakheel, faced bankruptcy, bringing the planned Palm trilogy to a stop.
AB - In 2006, Palm Jumeirah was completed: 1350 villas and 2650 apartments ready for occupancy. Dubai, a rising tourist destination, had written a clear, iconic message into the satellites’ skies:‘Here we are, the 8th world wonder!’With these manmade islands the small emirate would multiply the length of its coastline by thirty, creating real estate that could be sold at waterfront prices. During construction, and as a result of intensive marketing, these property values tripled: a feast with many winners.This extraordinary economic success suddenly came to a halt in 2009: shareholders that never intended to own a Palm villa were unable to resell their holdings. In the aftermath of the financial crisis, the emirate, including the Palm’s state owned developer, Nakheel, faced bankruptcy, bringing the planned Palm trilogy to a stop.
M3 - Article
SP - 46
EP - 59
JO - Le Journal Spéciale'Z
JF - Le Journal Spéciale'Z
ER -