Dubai rethinks air conditioned city plan
Developers have scaled down plans for Dubai’s proposed Mall of the World, dubbed the world’s first temperature controlled city.
The original plans for the 4.5km2, glass-dome-covered development, a mix of shops, offices, hotels, apartments and entertainment facilities, have been scaled back after developer Dubai Holding initiated a review of the $20bn project.
Morgan Parker, the former head of the Rockefeller family’s Rose Rock real estate firm, was called in to make the Mall of the World more attractive to institutional investors at a time when political turmoil, falling oil prices and declining Dubai real estate values have made them wary of such projects …