Uh, no, you are most certianly wrong. Dubai is probably the coolest city in the world.
This is one of thier new projects to create islands now that the Palm is mostly done.
They're also working on the worlds tallest building, at a whopping 560 meters tall (1827 feet. It'll be done in 2012 and will be 161 feet taller than Taipei 101 (the current record holder ) and have habitable space higher up than the Sears Towers radio masts. Dubai is the shit, go capitalism.