Expo is a large-scale, global destination event organized and facilitated by governments for millions of people to share ideas, innovation, encourage collaboration and celebrate human creativity. It is organized every five years and lasts for six months.
Changes
The upsurge in Dubai’s real estate market seems to become, as the kingdom’s years of policy reforms finally seem to be bringing back investors’ confidence in the sector. Long-term visas for investors and professionals, favorable payment plans, and increased flexibility in debt repayment by financial institutions are some of the initiatives that have changed this mood.
The good news is that we have already delivered this project, and the bad news is that we are 100% sold out”, quips Rahman, who believes that delivery of a project is the actual card for any builder.
The last quarter of 2019 has recorded close to 5,000 real estate transactions, the highest number of property sales since 2008, and Dubai’s residential stock is projected to reach 6 37 000 this year.
“Investors” confidence has also been very high. Hence, the announcement that Dubai would host the expo in October”, says Atif Rahman, partner, and director, Danube properties. Rahman, this year, has particular reason to feel elated because Danube properties recently delivered a massive 300 million luxury residential community project.
The trading continuum led to the creation of the Jebel Ali free trade zone, where the world’s mega brands and logistics companies set up their regional hubs. In due course, the region also witnesses manufacturing facilities set up in the country.
Fast Forward To Now
Dubai is massively geared towards the knowledge economy, with significant investment in leading-edge, emerging technologies like al hyperloop, 3d printing, 5g, and loads more.
The estimates for expo 2020 participation are placed in the neighborhood of 25m people from 19+ countries. While the companies presenting at the world’s most significant stage will come from all sectors., it is expected that the predominance will be from the knowledge-based sectors. This will also make your doubts clear if your question is Dubai property market going to crash or not. Here you can also check out the best community in Dubai.
There are strong indications that the real estate laws will be further relaxed, and there is even word of 10-years residential visas.
Once the expo is over, the entire expo 2020 area will be repurposed as a new district with new residential and commercial buildings, malls, schools, etc.
Post expo 2020, Dubai is looking optimistic and likely to generate the next era of the emirate. Along came oil and petrodollars, transforming the region beyond their wildest imagination.
What will Expo 2020 bring to Dubai?
Dubai holds greater significance by hosting a world expo, bringing pride and prestige to the city. Dubai has become the first city to host such large-scale international events in the middle east of UAE. It also helps in strong economic growth by hosting this event.
Dubai will benefit from hospitality, retail, transportation, banking, and real estate.
- Industrial profit
- Job opportunity
- Growth in tourist visitors.
Future of Real Estate is Green
The site of Expo 2020 is now home to 121 LEED structures. 12 of which have been ensured platinum, the most noteworthy grade signified ecological manageability.
These structures have been confirmed because of the reality they have been developed utilizing naturally delicate materials. And they have low carbon sway, have better air quality, and have incomprehensibly diminished energy and water utilization.
This move towards establishing a maintainable metropolitan climate is a pattern. And it will undoubtedly forge ahead into the not-so-distant future. Particularly with more organizations fostering a CSR ethos and intending to be naturally practical.
Notwithstanding, this pattern isn’t simply restricted to business property. Various nations have displayed the capacity to bring ecologically reasonable practices into homes in their structures. Particularly concerning development, including Austria, Spain, and the Netherlands.
These innovations will demonstrate essential in present-day metropolitan preparation. UAE-based designers ought to subsequently be additionally urged to take on these all the more harmless to the ecosystem rehearses while checking out the master plan of things to come of Dubai.
Conclusion
The summary paper highlights the key takeaways relating to expo 2020 Dubai. It will help inform policymaking and decision-making for shareholders in the Dubai economy.
This theme issue makes a significant scholarly contribution to understanding Dubai’s dynamics. Because a destination is on the verge of hosting a mega-event. And also captures the zeitgeist of pre-event planning. And, also post-event strategies in “connecting minds, creating the future”, which is the theme of expo 2020.
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