Successful Expo 2020 bid drives up demand

Successful Expo 2020 bid drives up demand

Government and industry stakeholders working on realizing goals to meet new challenges.

With the successful Expo2020 bid of Dubai, the emirate is targeting the arrival of 25 million tourists by the end of 2020. The question here is: with the rise in the number of tourists and the increasing number of investors, will Dubai be able to provide the facilities required to host visitors, and if yes, what is it doing to meet the rise in demand and accomplish future tasks?

THE UAE in general and Dubai in particular have come up with plans showing a long-term vision. With great back-to-back industry events viz. The Cityscape Global, the largest real estate exhibition; the Dubai Air show, prime global aviation event; and now the hosting of Expo 2020, Dubai has always been in the limelight.

This proves that the city not only has the ability to host international events but also strives to consistently scale higher altitudes of success each time. With such developments in Dubai, investors across the world are showing great interest in the city and its real estate. There has been a massive increase in the number of foreign investors and the government has been on its toes to successful implement various plans to meet the demands of investors.

Examples include advances right from the aviation sector with the new Al Maktoum International Airport at the heart of DWC; the construction sector with new off-plan projects being announced, and new developments in different residential areas, etc.

There are about 40,00 residential units to be completed by 2015 in different areas viz. Dubai Marina, Dubai Sports City, Jumeirah Village, etc. The hedged projects are back on track with the developers taking gains from the market growth.

To host the Expo2020, the foundation has to be place. To create that infrastructure, you need manpower and thus, even this bit has caught the eye of jobseekers worldwide who will provide needed manpower and create more demand for accommodation. This rising demand is definitely challenging with the limited time available, but the government is all set to make its Expo2020 vision a reality and get the property market on a sustainable path of growth.

·        Dubai has successfully hosted Cityscape Global and Dubai Airshow

·        Its winning the Expo2020 bid has attracted even more investor interest

·        More residential,Commercial projects set to address fitire market needs