Not just the Housing market in the United States and in several European Countries were hit hard in the last years, now also the wealthy Dubai has it's crisis.
Dubai well known for gigantic projects, like the artificial Palm Island or the Hotel Burj al-Arab, is suffering under a dramatic downturn in the real estate market.
The planned "AL BURJ" building (the tower) with a height of more than 3250 feet, which should become the highest building in the entire world, is now on hold for at least one year.
The building site is located near the almost finished highest building, the "Burj Dubai" with a height of approximately 2600 feet.
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