Million Dirham Copycat

After the huge success creative genius Alex Tew's site the Million Dollar Homepage had, a Dubai company now wishes to follow in his footsteps and sell pixels for a dirham each. Knowing how things work in Dubai, I already have an idea how this will turn out.

The site will probably still be under construction, but early investors can put down 10% deposits to buy offplan pixels until the website is ready in two years. Less than twenty four hours after launch, all the pixels will be sold out, and early investors will resell their pixel plots at over double the original price.
Local banks will be alarmed at the huge price increases and refuse to provide loans to people wishing to buy pixels in the secondary market. However, this will largely be due to the fact that there is no federal Pixel Ownership Law in existence.

Eventually, when the site is finished after numerous delays, it will be error prone and problem ridden and there will be massive changes to it that investors weren't told about when they were buying. The site owners will stop answering phone calls, only coming out with a response when their name is tarnished in local papers.

Hang on, hasn't something like this happened before?!