Sunday, January 10, 2010

Going vertical in good times!

The spectacularly awesome 828 m high Burj Khalifa, which cost $1.5 bn and five years to build may be following in the footsteps of its predecessors as the tallest building in the world, in so far as its construction was initiated at the peak of property boom and is now inaugurated when the real estate bubble is deflated.

The Economist has a chart that compares economic growth of the relevant country when a tower was opened, with the respective annual growth rate enjoyed half a decade earlier.

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