Who is the owner of Kahaifa Castle
Dubai: Debacle for the bankrupt swank sheikh - highest tower in the world renamed Burj Khalifa
Ostentatious Pomp. Gigantism. Dubai celebrates the opening of the tallest tower in the world and its Sheikh Mohammed al Maktum - probably for the last time.
Because with the construction of the 8th wonder of the world, the bankrupt Sheikh has taken over!
Without the financial injection from its wealthy neighbor Abu Dhabi, the completion of the monumental new building would not have been possible.
Al Maktum paid a high price for it: The 828 meter high Burj Dubai was renamed at the last moment - Burj Khalifa. The magnificent building now bears the name of the rich uncle from the south: Chalifa bin Sajid al Nahjan!
What a shame for the Dubai Sheikh! Ironically, the rich rival from the south is getting the shine off.
What was supposed to be a monument to al Maktums is now a symbol of Abu Dhabi's power in Dubai.
The naming is more than a thank you for the generous financial support of the neighboring country during the crisis. Abu Dhabi has pumped 25 billion euros into Dubai in the past few months. The last financial injection came with large editions.
At the beginning of December, Dubai had to ask the creditors of its sovereign wealth fund Dubai World to postpone payments. The emirate was threatened with bankruptcy for days, then the neighboring state stepped in.
One thing is certain: Without Abu Dhabi, the opening ceremony of the Burj would have been smaller.
Hundreds of police officers, 6,000 invited guests, gigantic fireworks. Empty coffers, payment difficulties and the real estate crisis should be hidden for one night. The world should regain confidence. The fact that the influence of Khalifa bin Sajid al Nahjan, who is considered prudent, has risen rapidly in Dubai should stir up hope in the world that Dubai is looking up again.
For Sheikh Mohammed al Maktum, his dream seems to have broken. It had already become quiet around him in the past few weeks. The Twitter fan held back. His entries on the communication platform, irrelevant.
Will there be more mega projects in Dubai? Questionable. Most major projects are on hold. Abu Dhabi announced at the beginning of December that it would only support systemically important projects. What exactly that means is kept silent about it.
One thing is certain: amusement parks like Dubai-Land or the planned Burj Nakeel with a height of over 1000 meters will probably not exist.
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