Meydan gallops towards uncertain future after costing 1.6 billion January 28th, 2010 | Horse Racing news | No Comments »
It is a momentous double, even by the standards of an emirate that never does things by halves. Three weeks after the worlds tallest skyscraper comes the unveiling of the longest landscraper on the planet.
At 1.6 billion, it weighs in at nearly twice the cost of the tower that appears to pierce a hole in the sky. Yet Meydan racecourse, with its grandstand 1.6km long, is no tourist attraction with foreign investment attached. It is a monument to one mans passion for a sport sometimes described by its participants as the great triviality.
At least Meydan runs little risk of being rebranded. Five days into the new year and the Burj Dubai skyscraper had a new name. It was rechristened Burj Khalifa, after the emir of Abu Dhabi, which extended Dubai a 15 billion bond lifeline to service its spiralling debt.
There have certainly been better times to open a racecourse. Meydan stages its inaugural fixture today with Dubaians - both indigenous and assimilated - seething over the emirates abrasive treatment by a Western media they describe as envious and imperialist in tone.
Indeed, to read of Dubais apparent demise was to expect to encounter a ghost town. There is scant evidence of that. Lobbies of numerous swanky hotels hum with activity, while the Dubai Mall, the hub of tourism here, seems as densely populated as ever.
Against that, property values have fallen sharply and retail outlets can be rented for a fraction of their former cost. Dubai, in other words, has not proved immune from the global recession. That much was inevitable, given the loan-fuelled blueprint for its rapid expansion.
Not that evidence of a recession has permeated the Meydan fortress. The grandstand itself is due its official baptism on Dubai World Cup night in March, when the feature race will be worth $10 million (about 6.2m). And horsemen here for the preceding carnival speak only of facilities to die for.
Horse racing is akin to the favoured son of Sheikh Mohammed, the ruler of Dubai who pursues it with a vigour to match his personal wealth. And Meydan is his favoured grandson now in need of a helping hand.
Its completion will plainly go down to the wire. The stewards room remains unfinished for todays fixture, a state that mirrors so much of a facility that is optimistically predicted to be in near-full use come March.
Even yesterday, it was hard to believe that racing would take place. Construction workers, on site by 6am, resembled a swarm of locusts within the giant framework of the grandstand. Progress was laboured: a man polished sheets of glass not 20 feet away from one wielding a saw to marble tiles.
That is not to belittle what has already been achieved in less than two years. The rest of the project will take a little longer. Meydan, replete with luxury hotel and IMAX cinemas, is but one of four elements within Meydan City, the model for which resembles the scarcely credible elements in a blockbuster sci-fi movie.
However, Dubais debt burden has seen the building of Meydan City stall. As it lies in mothballs less-developed emirates have the chance to catch up, notably Dubais oil-rich neighbour, Abu Dhabi. One project on the blocks just 80 kilometres from here is the creation of Saadiyat Island, a rich mans playground that will eventually house 180,000. In economic terms Sheikh Mohammed faces stiffer competition from his peers than he encounters from them on the racetrack.
The sheikhs people are irked that he has been directly linked to the tribulations of Dubai World, the property-based conglomerate whose debts triggered the western backlash in November. Yet any confusion is understandable. His buccaneering style has always suggested that Dubai is his personal fiefdom.
A badge of honour in the boom years, that umbilical synergy is now proving problematic. And the sheikh, who has strived hard to unite global racings disparate elements, faces a fresh challenge on that front.
The decision to lay a synthetic racetrack at Meydan was made in tandem with Americas embracing of such surfaces three years ago. Now, however, Santa Anita, the American standard-bearer of synthetics, is to return to racing on traditional dirt.
Two paths that might have converged now head in opposite directions. They take with them the sheikhs searing ambition to crown a truly representative global champion in the World Cup. Meydan was meant to be a conclusive step in that direction. As with so much in Dubai, however, that project is on ice.
