Dubai Spends Billions To Become Major Global Metropolis

"With ambitions to become a hub of global commerce, a top tourist destination and a shopping mecca --- a New York/Las Vegas/Miami rolled into one --- Dubai has spent tens of billions of dollars to build an astonishing modern city nearly from scratch in a mere 15 years. Some $45 billion worth of real estate under construction continues the boom."

"This tiny emirate is currently building the tallest skyscraper, the largest shopping mall and the biggest theme park in the world. And that's just on land. Immense formations of man-made islands shaped like palm trees and world continents are rising out of the turquoise waters of the gulf."

"In using its strategic location and oil revenues as springboards to modernize, diversify its economy and attract foreign investment, Dubai's leaders see their Rhode Island-sized nation as a role model for development in the Arab world."