Dubai To Spend $5 Billion To Build Resort Inside 900-Foot Moon Replica
A proposed $5 billion real estate project may see Canadian businessman Michael Henderson building a 900-foot replica of the moon on top of a 100-foot building in Dubai.
The project will be funded by Moon World Results Inc., of which Henderson is the co-founder.
Henderson has proposed to build a resort inside the spherical structure, including a 4,000-room hotel, a 10,000-seat arena, a nightclub, a possible casino and a “lunar colony” that would allow guests to experience the physical feeling of walking on the moon.
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The project, dubbed MOON, is a far cry from the city’s unfinished buildings left over from the 2009 financial crisis. Dubai had to be given a $20 billion bailout from Abu Dhabi, the capital of the United Arab Emirates, to stay afloat at the time.
Now, the housing market has transformed with residential sales reaching a record high last year. The booming real estate market may be a result of many wealthy individuals leaving their home countries due to restrictions from the coronavirus pandemic.
Many experts claim that Dubai is trying to increase its prestige on the world stage with projects like MOON.
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