I lived in Dubai for a year (2007), enough time to have observed at first hand virtually everything in the article when things were still going full throttle. It is little different in all of the GCC states really, but Dubai being Dubai always has to be the biggest and best, so you see the most excess there. It is nice to see something this accurate and honest in print. It is actually an offence to print anything that isn't a ra-ra-ra Dubai cheerleader piece in the UAE itself, and any dissenting comments in online blogs and newspaper comment sections never pass the strict controls in place. So, Dubai is wonderful, Dubai is fantastic, the downturn is really minimal, honestly......you get the picture. Emiratis are completely feckless and arrogant, but are actually beaten by the Kuwaitis and Saudis, who are so lazy and useless they make a 3-toed sloth look like the Tasmanian Devil.
Yep, nothing's changed.