Friday, November 21, 2008

Party on... there's no tomorrow?

Dubai defied the economic crisis last night as stars flocked to South African billionaire Sol Kerzner's Atlantis resort for a $20 million party that included the world's largest fireworks display dazzling enough to be seen from space and a performance by pop singer Kylie Minogue.
``We're very aware of the fact that the economy is not great,'' Kerzner, 73, said in a Bloomberg Television interview on Nov. 18. ``Nevertheless, compare that to the $1.5 billion investment and the importance of the return and the coverage that one needs to achieve it, one believes we've built something that's quite unique, on a grand scale, and that deserves and will grab the attention of world media, that's the best way of marketing and launching the product.''

Kerzner is splitting the cost of the party with Dubai government-owned Nakheel PJSC, developer of the Palm.
Sultan bin Sulayem, Nakheel's chairman, declined to discuss the weakening of the real-estate market, responding only, ``I don't think it will get worse.''


Blogger nzm said...

Meanwhile the Atlantis Bahamas has laid off 800 staff and now offers 3 night packages starting at $299 per person to get people to stay.

5:08 PM  
Anonymous viagra online said...

I think that today the million are in Dubai, it is one of the most important place in the economic world, for instance The economy of Dubai was valued at US$ 46 billion as of 2006. The Late-2000s recession slowed the construction boom!!!

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