Faudzil @ Ajak

Faudzil @ Ajak
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1 September 2014

MONEY MATTERS - Bulldozed casinos, uninhabited islands and empty theme parks: The world's most expensive tourist-attraction failures






Bulldozed casinos, uninhabited islands and empty theme parks: The world's most expensive tourist-attraction failures


By JOHN HUTCHINSON FOR MAILONLINE
When designing a tourist attraction, longevity, costings and appeal, you would think, are crucial elements to work through.

However as we will see from these sites from around the world, a dream can turn into a disaster for developers and tourists alike.

Uninhabited islands, locked up gates and amusement parks that are devoid of 'fun' show the sad state of affairs when plans fall through and management goes awry.

MailOnline has selected seven developments that cost the proverbial arm and a leg, yet have seen little or in some cases, no return.

Scroll down for video...


The tower was designed by Foster & Partners as a non-gaming boutique hotel. Serious construction defects to the building were discovered in 2008, and the project was halted indefinitely. On August 15, 2011 MGM announced plans to implode the building. On August 23, 2013, a Clark County court approved the tower's estimated £20m demolition.
The tower was designed by Foster & Partners as a non-gaming boutique hotel. Serious construction defects to the building were 
discovered in 2008, and the project was halted indefinitely

Harmon Hotel, Las Vegas - cost £170m

It was designed as a glamorous 48-storey tower, complete with boutique hotel, in America's Sin City.
But the Harmon Hotel was indefinitely put on hold in 2008 after serious construction defects were detected with the building. Flaws in the steel structure prompted experts to warn that the skyscraper could collapse in the event of a strong earthquake.
Originally part of a £5billion development, the building then became the subject of a £241million lawsuit.
Now MGM, the company behind the construction, is dismantling the tower, at an estimated cost of £20million.
That's a lot of cash for a hotel that never opened.
The tower is now mainly used for advertising after defects inside the building halted construction in 2008
The tower is now mainly used for advertising after defects inside the building halted construction in 2008
The World Islands, Dubai - Cost estimated at £8bn
Following the success of Dubai's Palm, a man-made island designed to look like a tree, the wealthy emirate decided to take over the world.
Work began on the scattering of 300 islands in 2003, with the idea of selling each 'country' off to a wealthy buyer so they could construct their own properties.
But when the financial crisis hit in 2008, construction was halted. More than half of the islands had already been sold, but development halted, leaving many of them abandoned.
In 2011, it was reported that some of the islands were sinking due erosion and tribunal cases were brought against the state-owned company Dubai World that was behind the project and had to be bailed out of debts of up to £15billion in 2009.
As the financial crisis eased, work began again and some islands have been developed since late 2013.
The World Islands, so called as they are constructed in the rough shape of a map of the world, are an artificial archipelago of various small islands  located in the waters of the Persian Gulf. Construction of the 300 islands began in 2003, only to halt due to the 2008 financial crisis. Though 60 percent of the islands had been sold off to private contractors back in 2008, development on most of these islands has failed to initiate. As of late 2013, only two of the islands had been developed.
The World Islands, so called as they are constructed in the rough shape of a map of the world, are an artificial archipelago of various small islands located in the waters of the Persian Gulf
The development is located near the palm island, one of the most sought after areas of real estate in the Emirate state
The development is located near the palm island, one of the most sought after areas of real estate in the Emirate state
The islands - which are supposed to be filled with properties - are virtually empty after potential investors did not buy up the space
The islands - which are supposed to be filled with properties - are virtually empty after potential investors did not buy up the space

Berlin Brandenburg airport - Cost between £2bn - £5bn

It was supposed to hail a new era of travel in Germany, a slick new airport in Berlin to replace the current Schonefeld and Tegel hubs.
But despite an opening date of June 2012, airlines had already scheduled to re-route all their fights to Berlin Brandenburg when suddenly the project was delayed with just three-and-a-half weeks notice.
Despite a host of new proposed opening dates, the airport has stood as a white elephant ever since, due to problems with the building's fire detection system.
The airport, originally set to cost £900million, went enormously over budget at £2.8billion, and following a request for an £800million bailout earlier this year, the costs keep soaring.
The plan for Brandenburg is to replace both the Schonefeld and Berlin Tegel airports. It was projected to be the one of the busiest in Europe with estimates of 27 million annual passengers. Poor construction, planning and management has meant that the airport is some way from its projected 2010 opening.  It is believed it could be as late as 2019 when the airport is open to the public.
The plan for Brandenburg is to replace both the Schonefeld and Berlin Tegel airports. It was projected to be the one of the busiest in Europe with estimates of 27 million annual passengers. Poor construction, planning and management has meant that the airport is some way from its projected 2010 opening. 
The deserted terminal building at the airport that was supposed to be one of the busiest in Europe
The deserted terminal building at the airport that was supposed to be one of the busiest in Europe
It is believed it could be as late as 2019 when the airport is open to the public
It is believed it could be as late as 2019 when the airport is open to the public
Only two years after opening for trading, the Revel Casino is closing its doors next month. Innovative planning was hoped to counter the declining gambling industry - yet two bankruptcies later after never turning a profit, the game is over for this organisation
Only two years after opening for trading, the Revel Casino is closing its doors next month. Innovative planning was hoped to counter the declining gambling industry - yet two bankruptcies later after never turning a profit, the game is over for this organisation

Revel Casino, Atlantic City - Cost £1.5bn

The idea for the Revel Casino, complete with 3,800 hotel rooms, was launched to great fanfare back in 2007.
However, by 2009, Revel Entertainment started running out of money half-way through the project and laid off 400 workers.
The company said it would finish the exterior while looking for money to build the rest. However, by 2011, Revel had to scale down its plans, limiting the development to a 1,100 hotel before finally opening to the public in 2012.
But its woes didn't end there. Revel was forced to file for bankruptcy in May 2013 and the hotel and casino are closing down this month.
The seats in front of the slot machines have been left empty following a number of bankruptcies
The seats in front of the slot machines have been left empty following a number of bankruptcies
A man stands against the wall of the deserted casino in Atlantic City, New Jersey
A man stands against the wall of the deserted casino in Atlantic City, New Jersey

Wonderland Amusement Park, Beijing - Cost £80m

It was to be China's answer to Disneyland - a magnificent theme park attracting millions of visitors a year with state-of-the art rides in a chintzy fairytale setting.
But Wonderland, now little more than an eerie Ghost town on the outskirts of Beijing, is finally to be torn down after a catastrophic history stretching over 15 years.
Construction work at the 120 acre site ground to a halt in 1998 due to a dispute between the developers and the landowners and a corruption scandal that went right to the heart of the communist party.
Back in the mid 1990s, developers Huabin foresaw a bustling theme park attracting some three million visitors and generating 6 billion RMB ($1 billion) a year.
Crucially they had secured the backing Chen Xitong, then the Beijing Party Secretary who was being tipped to become the country's next leader.
But when Chen was jailed for corruption in 1998, his successor, perhaps scared of being tarred with the same brush, refused to support the project.
Situated 20 miles north of the hive that is Beijing, there was a lot of excitement about the theme park.It was to be China's answer to Disneyland - a magnificent theme park attracting millions of visitors a year with state-of-the art rides in a chintzy fairytale setting.But Wonderland, now little more than an eerie Ghost town on the outskirts of Beijing, is finally to be torn down after a catastrophic history stretching over 15 years. Construction work at the 120 acre site ground to a halt in 1998 due to a dispute between the developers and the landowners and a corruption scandal that went right to the heart of the communist party.
Situated 20 miles north of the hive that is Beijing, there was a lot of excitement about the theme park.It was to be China's answer to Disneyland
Wonderland, now little more than an eerie ghost town on the outskirts of Beijing, is finally to be torn down after a catastrophic history stretching over 15 years
Wonderland, now little more than an eerie ghost town on the outskirts of Beijing, is finally to be torn down after a catastrophic history stretching over 15 years

Ryugyong Hotel, North Korea - Cost £450m


The 1,082ft-high Ryugyong Hotel was due to open last summer, an astonishing 24 years behind schedule. But it has been put off indefinitely once again.
Work on the bizarre triangle building actualy began in 1987 under the regime of Kim Jong-Un’s grandfather, Kim Il-Sung. It was meant to open in glory and overshadow South Korea hosting the 1988 Olympics, but money ran out and work slowed. It finally ground to a halt in 1992 after the collapse of the Soviet Union - part of an economic disaster which plunged the country into famine.
Over the decades the building became known as the 'Hotel of Doom' and a laughing stock in the West until work suddenly began once again in 2008.
A Egyptian developer came in, Kempinski signed up to operate the hotel and it was scheduled for a 2013 opening. But that date has passed, Kempinski appears to be distancing itself from the project and the Ryugyung Hotel remains the Guinness World Record as the tallest unoccupied building in the world.


It was set to be opened in 1989, comprising of seven restaurants that would spin, as well as marketing itself as the tallest building in the country. Yet here we are in 2014, and there are no plans for anyone to open the doors. Construction began in 1987 but was halted in 1992 as North Korea entered a period of economic crisis after the fall of the Soviet Union. After 1992 the building stood topped out, but without any windows or interior fittings. In 2008 construction resumed and in 2011, the exterior was reported to be complete. The opening has been scheduled several times but postponed.
It was set to be opened in 1989, comprising of seven restaurants that would spin, as well as marketing itself as the tallest building in the country
After 1992 the building stood topped out, but without any windows or interior fittings. In 2008 construction resumed and in 2011, the exterior was reported to be complete. The opening has been scheduled several times but postponed
After 1992 the building stood topped out, but without any windows or interior fittings. In 2008 construction resumed and in 2011, the exterior was reported to be complete. The opening has been scheduled several times but postponed

Mirny Diamond Mine, Russia - Cost Free (If you can get there)

A source of diamonds, you would think, can always be a good thing. However, the Mirny Diamond Mine in Russia comes with a special hazard. 
The hole opening has been declared so big that planes are barred from flying over it in case they get sucked in. So this is a case of it being profitable - but only if you can get there!
A source of diamonds, you would think, can always be a good thing. However, the Mirny Diamond Mine in Russia comes with a special hazard - the hole opening has been declared so big that planes are barred from flying over it in case they get sucked in. So this is a case of it being profitable - if you can get there!
A source of diamonds, you would think, can always be a good thing. However, the Mirny Diamond Mine in Russia comes with a special hazard 
The hole opening has been declared so big that planes are barred from flying over it in case they get sucked in. So this is a case of it being profitable - if you can get there!
The hole opening has been declared so big that planes are barred from flying over it in case they get sucked in. So this is a case of it being profitable - if you can get there!


Source: http://www.dailymail.co.uk

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