Canadian entrepreneur Michael Henderson envisions building a 274-meter replica of the moon atop a 30-meter building in Dubai, already home to the world's tallest building and other architectural wonders.Henderson's project, dubbed MOON, may sound out of this world, but it could easily fit in this futuristic city-state.
The project Henderson proposes includes a destination resort inside the spherical structure, complete with a 4,000-room hotel, an arena capable of hosting 10,000 people and a "lunar colony" that would give guests the sensation of actually walking on the moon. The Pearl and the Palm Jebel Ali represent two "white elephant" projects left over from the 2009 financial crisis that rocked the sheikhdom and forced Abu Dhabi, the capital of the United Arab Emirates, to provide Dubai with a US $20 billion bailout.
Inflation and interest rate hikes around the world have led to fears of a global recession. The UAE's currency, the dirham, is pegged to the dollar, meaning it has followed lock-step the hikes imposed by the Federal Reserve. The MOON project also includes space for a possible casino as well. Gambling remains illegal in the UAE, a federation of seven hereditarily ruled sheikhdoms on the Arabian Peninsula. However, major brands like Caesar's Palace already exist or hope to build in Dubai. Wynn Resorts plans to build a US $3.9 resort in Ras al-Khaimah north of Dubai with gambling to open in 2027 -- meaning a change to the law is likely to come.