Neither extreme is justified: treating every new high-rise as proof of an exact apocalyptic timetable, or treating the passage as entirely irrelevant to human conduct.
تَلِدَ means “gives birth,” and تَرَى means “you see”; the wording presents recognizable scenes. It does not authorize unsupported verdicts about a particular country or people.
A better response is to strengthen respect for parents, avoid arrogance based on wealth, and prepare for accountability in the Hereafter. Details the text does not supply should not be presented as certain.