A recent report by Jones Lang LaSalle showed occupancy rates in Dubai fell to 79 percent last year, the lowest since 2004, and a five-percent decline from 2007. The horrors! It's certainly all relative, and I'm sure the spending and costs are just as outrageous sounding, but I think many in this country would be plenty happy with occupancy rates in that range. Occupancy is falling there for the same reasons as here: added supply and lessening demand.
For more on the report, check out this.