Azerbaijan: The New Dubai

The days when Baku was drab and dreary are long past. Now many facades have been clad in gleaming natural stone, and new high-rises and luxury apartments are shooting up everywhere. Baku is trying to recast itself as the Caspian Sea’s answer to Dubai. But the newfound affluence is benefiting mainly the city’s oligarchs, who have a stranglehold on the local economy. As a result, ordinary residents are finding it increasingly difficult to afford life in the upscale - and expensive - metropolis.