Monday, June 16, 2008

Dubious Dubai Development

Can anyone tell me why an Emirate as wealthy as Dubai needs to lure the rich with celebrity endorsed real estate? Don't they have enough wealth there already?

DUBAI, United Arab Emirates -- Property developers in this Persian Gulf sheikdom, famous for its grandiose projects, are increasingly turning to American and European celebrities to help sell the properties to wealthy consumers.

Mr. Pitt joins Wimbledon champion Boris Becker, fashion designer Giorgio Armani and golfers Greg Norman and Tiger Woods, among others, who have staked their reputations on helping Dubai property agents lure wealthy foreigners.

Mr. Armani's development, which includes condos and a hotel being built by Emaar Properties, will compete with Palazzo Versace, a hotel that will feature furniture and fittings selected by rival designer Donatella Versace.
Would I go out of my way to stay in a Brad Pitt designed hotel....probably not. I'm not sure how anyone is going to cash in on his environmentally friendly design skills.
But, I can see how the over the top design by Donatella Versace would be perfect for over the top Dubai.
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