You couldn't open a glossy magazine in the last five years and not be regaled with the wonders of the miracle of Dubai. Enormous artificial islands sculpted of sand in the Gulf of Arabia crusted over with luxury condos and skyscrapers. An enormous medical college built from the ground up to educate the wastrel scion of Arab princes in medicine rather than have them spend their lives in Monaco's casinos gambling, whoring and drinking. They seem to prefer the whoring and drinking, so the university has filled up with more ambitious youth.
The ruins of Dubai are going to make one hell of a post-apocalyptic movie set someday. It's going to get really seedy between now and then. There is a much better article on the Emirate than anything I could ever write at SmashingTelly. Check it out.