10/09/2026

Rich Arab states wasting their trillions listening to foolish advice to spend and spend on vanity projects

The Saudi's are making the same fatal mistake as UAE, investing hundreds of billions trying to outdo Dubai, with its massive Noem construction projects and the highest building in the world - the 'Jeddah Tower' caught in limbo.

Dubai's Burj Kalifah is now facing massive problems with maintenance issues, just fifteen years after inauguration. The desert heat is destroying its glass cladding that poses enormous problems with replacements. I do not have to highlight all the other technical issues regarding water, sewage disposal and external cleaning which are well articulated elsewhere.

Saudi Arabia is caught between a rock and a hard place, trying to fund all the construction costs, with many projects now abandoned. When they look at what is happening with Dubai, they knew the kind of problems they are going to face. No longer would filthy rich investors be tempted to take up units in the Jeddah Tower after seeing what the Burj Kalifah is going through.

Both countries face the same problem - desert heat that destroys infrastructures. Nature is taking back what Dubai took from it by dredging sand loaded with salt as foundations for its Palm Jebel Ali and Palm Jumeirah beach homes. Another such project had been scrapped, leaving sand dunes basking in the hot sun and the sea claiming back its sand. Nature has all the time in the world to do its job or reclaiming what belongs to it.

Saudi Arabia needs desperate money trying to export its oil. The Strait of Hormuz already dampened its hope of generating more revenue to fund its development, thinking that the Red Sea gives it a alternative lifeline. Now, that possibility is being given a rude awakening by the Houthis. So, now the Saudis are claiming they have control of the Bab Al-Mandab. The question is how are ships going to avoid being accosted by the Houthis? Will shipowners and insurers just ignore the risks? We have gone through the Strait of Hormuz issues, and it is clear that gloating does not necessarily mean the problem is solved.


Anonymous

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