Dubai world expo 2020 is expected to bring numerous benefits to the emirate, especially within the real estate sector, which is on the brink of resurgence.
- The expo is the third largest global event of its kind.
- Dubai’s economy is expected to be boosted by an extra 17 million international visitors
- The Federal Authority of Human Resources expects Dubai’s real estate sector to benefit greatly from the event
Dubai World Expo 2020 will mark the first large-scale international event to take place in the Middle East.
The third-largest global event of its kind, the expo acts as a powerful economic and cultural catalyst and is expected to bring numerous benefits to the emirate, especially within the real estate sector.
The six-month exhibition will revolve around trade and innovation from all corners of the world, transforming the UAE, especially Dubai, into a showcase featuring the best examples of global products. According to official statistics, between 25 and 30 million visitors are expected to arrive in Dubai, in turn generating revenue and strengthening the emirates economy.
As a result, The Federal Authority of Human Resources expects the emirates real estate sector to benefit greatly from the event, as do real estate portal Bayut.com, who predict Dubai’s real estate sector will see the return of heightened business activity ahead of Expo 2020.
Developers have already initiated or completed most work on Expo 2020 developments, which include some high-profile real estate initiatives.
A recent market report carried out by the real estate portal, reveals 2017 is now likely to be the year when preparations for the expo gain full momentum, as the engines of job growth, infrastructure development and economic prosperity rev up to full speed, supporting the government’s plans to improve the emirate’s tourism, hospitality and real estate industry.