Giant Taj Mahal Can’t Hide Dubai’s Weak Real Estate Market
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Dubai proclaimed its real estate comeback in the only style it knows: grandiose.
A replica of the Taj Mahal about four times bigger than the original, a skyscraper with nine swimming pools and a mile-long canal winding its way around office buildings are among the high-profile projects unveiled in the past few weeks. The plans had been on hold since the financial crisis brought the emirate’s property boom to a halt in 2008.