Remember the days when a spectacular new project was announced every three minutes?
Money was no object (or so developers believed) and the landscape of the Middle East was changing by the day.
And then it all stopped. This is a look at some of those projects that fell foul to the ruthless sword of the economic crash and a couple of other hotels that simply didn’t have the legs to open.
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1. Trump International Hotel & Tower, Dubai
Trump International Hotel & Tower was a proposed 62-storey mixed use tower and hotel at the trunk of the Palm Jumeirah in Dubai. It was a joint venture between the Trump Organization and Dubai-based Nakheel, announced on October 5, 2005.
The hotel was expected to boast 300 rooms and several star studded gala events in Los Angeles and New York in 2008 helped build the hype around the towers.
At one point the project’s penthouse became the most expensive property in Dubai with one buyer offering AED11,100 ($3,022) a sq ft, - almost AED110m for the whole unit.
But the project fell afoul of the global credit crunch in 2008 and rumours soon circulated that the project was unlikely to open its doors.
It was officially cancelled by Nakheel in February 2011, with reports the site will be converted into a shopping mall for Palm Jumeirah Island. The original design featured a circular tower surrounded by four golden petals attached to the sides.
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