After property prices plummeted following the global financial crisis of the late 2000s, Dubai is back to being a boom town.
This isn’t the first second-chance for the prosperous emirate. After hitting peak oil production in 1991, the tiny city plunged forward with an investment program meant to make it a world class city with an economy based on the service sector. However, when the financial crisis hit in the late 2000s, there was fear of a collapse of the real estate sector. As you can see from the satellite imagery below, that just wasn’t true.
Take a look at Aerial Time Lapse of 20 Years of Construction in Dubai growth based on satellite imagery:
We can’t wait to see how much happens in the next four years (Dubai 2020)