Why Dubai's Troubles Won't Hurt Masdar  

Posted by Big Gav in ,

Technology Review has a post outlining the case that Dubai's financial meltdown won't affect the Masdar project in the neighbouring emirate of Abu Dhabi - Why Dubai's Troubles Won't Hurt Masdar.

Dubai, one of the emirates in the United Arab Emirates, has been all over the news lately because it announced that its investment arm, Dubai World, won't be able to pay its massive debts in time. That might lead some to wonder whether a prominent UAE project, Masdar City--a city that will produce no carbon dioxide emissions if it works as planned--will be affected.

It probably won't. Masdar City is backed by not by Dubai, the most famous of the UAE emirates, but by the emirate of Abu Dhabi. Although less visible internationally, Abu Dhabi is actually far larger and richer than Dubai. Abu Dhabi also has most of the UAE's oil reserves, while Dubai has largely exhausted its oil and relies on real estate and other investments. So while Dubai is hurting, Abu Dhabi is doing okay.

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