Dubai to invest $8.8bn to develop World Expo 2020 facilities

Dubai to invest $8.8bn to develop World Expo 2020 facilities

The Dubai government has announced plans to spend $8.8bn on developing facilities to host the World Expo 2020 event.

Summary

  • $8.8bn to be spent on facilities for World Expo 2020
  • Dubai government to supply a “significant amount” of funding
  • 25 million visitors expected at event

Dubai will invest $8.8bn to develop facilities for the World Expo 2020 event, and a senior official has suggested the government will provide a considerable amount.

Helal Saeed al-Marri, Director-General at Dubai Tourism and Commerce Marketing said a “significant amount” would be government funded, and added there were also a number of Dubai investment opportunities.

Key government agencies revealed at the Destination Dubai 2020 conference that development is set to begin in earnest from 2015.

The focus of development will be in two locations – the site of the Expo itself and in the city.

Al-Marri said: “The Expo site requires significant infrastructure and development, and the team is working on designs for this. The other side is city readiness. [The event] will require significant development around the city.”

Doubling the number of hotel rooms is seen as an essential part of the plans, since 25 million visitors are expected at the event, 70% of which will be from outside the United Arab Emirates.

The newly created Higher Committee will oversee preparation for the event following a decree last month from Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum.

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