Word: reals
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...ambition. The Gulf emirate, which unlike the other emirates that join to form the U.A.E., has little oil or gas, and so has concentrated on building itself up as a vibrant business and transport hub and the home to some of the world's biggest, flashiest and most modern real estate. To lure in the masses, Dubai promoted itself as an income tax free resort for the world's rich and upper middle class. Dubai's master planners developed a signature over-the-top style geared to the tastes of newly minted wealth - an indoor ski slope, a luxury condominium...
...when world markets collapsed last year, so did Dubai's real estate market, leaving developers like Nakheel struggling to finish projects and pay suppliers. Speculators fled, and thousands of expatriates and locals who had bought into the dream were left owning unfinished condos or houses they could not sell. Residential real estate prices have fallen by almost half in the past year, the deepest decline anywhere in the world. (Read: "How Wall Street's Bust Threatens Dubai's Boom...
...went from having 300 million square feet of self-storage space in 1984 to 2.4 billion square feet in 2008, according to the Self Storage Association, a 700% surge. By 2005, one in five new houses came with three garage bays-the third, real-estate agents explained, to store all the "toys." (See which businesses are bucking the recession...
...Then it seemed like simple fiction: while theoretically possible, gene therapy appeared unlikely to become a true therapeutic option, the field having suffered years of complications and high-profile setbacks. But over the past year, a series of small but intriguing advances has suggested that the technique may hold real future potential...
...German opposition to the Afghanistan deployment, which is the most substantial deployment since the end of World War II, and is taking on the character of a fighting mission. Some see the affair as a chance for Germany's government, and the Western alliance more broadly, to have a real debate about strategic goals in the Hindu Kush. "Zu Guttenberg is likely to emerge strengthened from this", Volker Perthes, the head of the German Institute for International and Security Affairs, told TIME. "He is talking straight, which is appreciated by the German public...