Impact Of The World Expo 2020 On Dubai Real Estate

Dubai Expo 2020, just four years away, is expected to include a substantial contribution to the non-oil-based economy of Dubai and the wider United Arab Emirates (UAE). “ The Expo 2020 is likely to generate about US$23 billion (24.4% of Dubai's current Gross Domestic Product) between the years 2015 and 2021” and it is likely to boost the economic growth of Dubai to an average 6.4% a year from 2014 to 2016, and possibly to 10.5% by 2020”, according to analysts. Undoubtedly, The Expo 2020 will have a great positive impact on Dubai’s economy, which will surely benefit the real estate market.

Positive Impact Of The World Expo 2020 On Dubai's Real Estate Market

The World Expo 2020, a mega event is surely going to have a big impact on Dubai real estate by generating a higher demand for residential housing projects in the city. The World Expo 2020, a 4.3 million square meter plot is situated strategically in between Dubai and Abu Dhabi, and the cost of construction of this site is estimated about US$ 6.9 billion. Real Estate sector will benefit from the plans of big expansion of the hospitality sector, and the residential real estate sector also has expansion plans to supply to the housing needs of people relocating to Dubai for expo 2020.

With The World Expo 2020, Dubai will receive about 25 million visitors and will be spending 25 billion dirhams in total infrastructure investments and this should lead to more than 277,000 new job opportunities spurring up. Due to increase in jobs, the demand for residential real estate will also increase. This is the prime reason that a lot of investors are buying property in Dubai in prediction of the strong growth that the Expo 2020 is likely to bring. While people who are looking to live here are buying property before an estimated surge in prices in the build up to Expo 2020.

UAE is expected to attract foreign investments that range in between US$ 100 billion to US$ 150 billion. Dubai will see growth of 35 to 50% as a direct result of the World Expo 2020 that means, for investors, it is the time to buy in Dubai. With many vast ongoing investments in mega infrastructure projects that are set to be ready in time for 2020, and we believe Dubai’s charm will rise in the years to come.

Whether you’re looking to buy an apartment or invest in property, always hire the expertise of a real estate agency that has a great track record and provides affordable property for sale in Dubai. Investing in Dubai real estate today could be the best time for gains in the future.