Business And The Burj?

The Burj Dubai, the tallest building in the world and worth more than $4.1 billion, took 6 years to construct and looks like a modern day Tower of Babel. While Dubai is down with an economic crisis, one may question the economic viability and wisdom of such a huge building.

But then, the main argument for these monuments has never been purely economic. In the US, the early 20th century saw one tycoon after another vie to build the world's tallest buildings, adding their marks to Manhattan's iconic skyline. The action has now shifted to the east where skyscrapers from Malaysia’s Petronas Towers to Taipei 101 to now the Burj have become icons of national pride and often also help draw investment. Incidentally, companies like HSBC Holdings plc (ADR) (NYSE: HBC) have invested heavily in Dubai.