Photo Gallery Construction Cancelled
The financial crisis has led to the cancellation of spectacular construction projects in the previously booming metropolises of Dubai, Moscow and Abu Dhabi. Dubai's new $100 billion Jumeirah Gardens development (seen here in a computer simulation) is one of several projects that have been "postponed."
Read the article: Global Downturn Dooms Prestige Construction Projects
In Moscow's new Moscow City district -- Europe's biggest construction project -- a skyscraper called Rossiya ("Russia") was intended to serve as a proud symbol of the country's resurrection and prominence. Recently, however, the developer, Russian Land, announced that it planned to "freeze" the construction of the uber-skyscraper because of the crisis.
A $600 million hotel project planned by Donald Trump in Dubai was touted as a sculptural attraction, under the slogan: "Greater Height, More Drama, Unmistakable Presence."
Now Trump's hotel on Dubai's Palm Jumeirah island has been "postponed." Here Trump is seen in front of the Trump International Hotel & Tower in Chicago.
Even China's construction sector is feeling the effects of the financial crisis. But China's strategy for coping with the downturn is different from that of other countries. The Chinese are simply building in the face of the crisis -- no matter what the cost.
