Dubai Expo 2020 Impact on Real Estate

Only few months away for the most awaited Expo 2020. Dubai Expo 2020 Impact on Real Estate will be positive or Dubai Real Estate after Expo 2020 will witness a boom and rates keep rising and further impact depending on market. All sectors like real estate, hospitality, tourism, retail, education will be going to gain momentum.

Dubai Real Estate after Expo 2020

# What is Expo?

Expo is the large scale, global destination events organized and facilitated by governments for the millions of people to share ideas, innovations, encourage collaboration and celebrate human creativity. It is organized every five years and last for six months.

In 1851, the world's first Expo was held in Crystal Palace at London and known as the Great Exhibition of the Industrial work of All Nations. In this industrial revolution, about 10, 00 object showcasing inventions are displayed.

Some of the most amazing inventions which are brought early to the world at expo include the telegraph in London in 1851, the typewriter in Philadelphia in 1876, the diesel engine in Paris in 1900, the colour TV in 1964 in New York, IMAX film in Osaka in 1970, and wireless trams in Yeosu in 2012.

The Last and recent expo was held in 2015 in Milan, Italy under the theme of "Feeding the Planet, Energy for Life". Inventions include solar trees and energy saving elevators which could be useful in the UAE like countries.

Expo have evolved has a platform for connecting the civil society and government to face global challenges with the available resources. Real motive of the expo is to educate the people for betterment of living life by gathering together is a single platform. The various ideas across the world, based on the solutions and best practices.

# Why is Dubai 2020 such a big deal?

Expo 2020 will be hosted by Dubai which will play global endeavor to see a better world together.

The main Objective of expo 2020 are as follows: -
1. Opportunity
2. Mobility
3. Sustainability

The Dubai's large Expo 2020 event experience will be attended by nearly 170 nations worldwide trade delegations. It will bring conjunction of think tanks, global academia, pressure groups and NGOs. Also brings micro, small and medium-sized business alongside corporations. It will bring governments, state-run agencies and other public-sector bodies. Together it will solve the biggest problems of the world by connecting minds, connecting values and connecting innovations across the world in mobility, Opportunity and sustainability.

# Where it is going to be held?

World Expo 2020 will be hosted by Dubai, in the United Arab Emirates between 20 October 2020 and 10 April 2021. This is the greatest significance and brought pride and prestige to the city.

The Expo site will going to spread over on 438 hectares which is located in the Dubai South district near the Al Maktoum International Airport.

Bureau International des Exposition (BIE) member states elected the UAE as the host of Expo 2020 during the General Assembly of 27 November 2013. Dubai Expo 2020 was formally registered at the General Assembly on 25 November 2015.

Dubai Expo 2020 will long last for Six months and organized in large scale globally that millions of people can get an opportunity to take part to share their ideas, innovations, encourage collaboration and celebrate human creativity.

# Will the Dubai real estate market benefit immensely from the expo 2020 or Will the real estate in Dubai witness a boom after Expo 2020?

The World Expo 2020 will likely to lead GDP growth accelerates will over the 3.5 per cent estimate and strong economic growth. The world's attention will be capture by Dubai, before, during and after Expo 2020.

Expo is expected to be one of the largest event organized in UAE with over 170 nations taking part including Germany, US, UK, Nigeria and many more. It boosts the UAE's global reputation, encourage economic and cultural growth for long last legacy in Dubai.

According to the Senior Vice-president of Commercial at Expo 2020 Dubai, World's most innovation companies will take part in this event. Dubai Expo 2020 truly will be global event that captures the sense of wonder, excitement and fun that characterized history's greater world Expos.

The event will be held in between October 2020 to April 2021. In this six month around 25 millions peoples are estimated to visit Expo 2020 in Dubai, which will impact on economical growth. Straight after the successful bid, there was 4 per cent increase on the Emirates stock index.

It will create around 30,0000 jobs and demand significantly increase in all key sectors such as real estate, hospitality, tourism, retail, education, technology, manufacturing and healthcare.

Expo 2020 brings the opportunity for Dubai to appeal for foreign investment, global financial exchange, independent financial regulator, world-class telecommunications and infrastructure, predominantly due to pro-business government, dynamic business community.

Dubai is one of the most powerful financial centers in the world, this new legislation and of course the upcoming Expo 2020, will bolster this view globally in an unprecedented way.

# What will Expo 2020 bring in Dubai?

Dubai holds greater significance by hosting World Expo, brought pride and prestige to city. As Dubai becomes the first city to host such large-scale international event in the middle east of UAE. It also helps in strong economical growth by hosting this event.

Dubai will benefit from various sectors including hospitality, retail, transportation, banking and real estate.

# Industrial Profit: -

Dubai is proud to organize first large-scale international event Dubai Expo 2020 within the Middle East in the UAE. An event of such magnitude will also bring countries advantages, especially for its real estate sectors. Some of the benefits are discussed below.

# Job Opportunity: -

According to recent report published by standard chartered, Expo brings job opportunity in various sectors including service industries, architecture, infrastructure development and engineering, travels and tourism sectors. About approximately 90 per cent jobs are created, it would be around 300,000 direct jobs and more than millions indirect jobs in Dubai.

# Growth in Tourist Visitor: -

The Expo is going to be a global event where all over the world peoples are visit to take part in it. It will be the third largest global event act as a powerful economic and cultural catalyst for the host country. About nearly around 30 million visitors are expected to arrive in Dubai. In visitor list are also large numbers of international tourists who will visit the emirate. Such a huge number of visitors can strengthen the economy of Dubai by helping in hospitality, tourism, etc.

# Top Projects of Dubai Expo 2020?

Here's a list of the top projects that are planned before Dubai Expo 2020.

1. Dubai Water Canal Project: -

The Dubai Water Canal is one of the expensive projects to build with the total cost of $545 millions. This project will be constructed at the emirates Business Bay which connects the area of Arabian Gulf. It has three phases and set to complete in October 2016.

Once the Project was completed, we can see new shopping centre are built with 450 restaurants, luxury housing and cycling path. There will be also a canal of area 80,000 square meters of new space and facilities along with private marina for boats and new trade centre. The canal itself will be six-meter-deep and it comes with eight-meter-high bridge that allows yachts and other boats to pass with ease.

2. Museum Of the Future: -

Museum of Future launched by His Highness sheik Mohammed bin Rashid Al Maktoum, Vice president and Prime Minister of the UAE. This Museum will be cornerstone for world's latest inventions which focus on only on innovations.

This museum will be located next to the Jumeirah Emirates Towers which is nearer to Dubai International Financial Centre (DIFC). The Museum build in Circular shaped it attract the visitors. It will offer advance courses and specialized workshops along with public talks and events. It is expected that the project will cost nearby $200 millions and scheduled for completion of the project in 2017.

3. Al Habtoor City: -

Al Habtoor City is a mega development project which constructed over 10 million square foot plot near sheikh Zayed Road. It will be in close proximity to the Dubai World Trade Centre, where the World Expo 2020 will be held. T is expected that the project will cost nearby $3 billion and scheduled for completion of the project in 2016.

The project will be comprised with three luxury residential towers, grand dining venue, French-style garden, a Las Vegas themed aqua theatre and world's first ever Bentley cafe. It is also featured with three top rated hotels managed by Starwood hotels and resort worldwide.

4. Jewel Creek: -

Jewel Creek is a new and luxuries project located in between Al Maktoum Bridge, Baniyas Road and Floating Bridge. It is featured with 19-stories apartment building, three office towers, two luxury hotels, recreation and convention centre with a ballroom, as well as a shopping malls and restaurants. These will be ultimately best place for young guest and visitors to experience luxury.

Its constructed over 123,955 square meters of land and scheduled for completion in the first quarter of 2017. It is expected that the project will cost nearby $816 millions.

5. Dubai theme parks: -

Dubai Parks and Resort are currently building a three- theme park complex. Each park will be based on unique concepts including Motiongate Dubai, Bollywood Parks and Legoland Dubai.

The complex also been hosted with restaurants, cafes and other entertainment facilities in the entrance. The rides and other main attractions have developed at the park.

The park is constructed over 60,000 square meter of land and scheduled for completion in the first quarter of 2016. It is expected that the project will cost nearby $1.03 billion.

6. Dubai Frame: -

The Dubai Frame is one of the major tourist attractions in Dubai. The project comprises a 150m- high, 93-wide structure being built to resemble a huge picture frame. The frame will boast panoramic view of Old Dubai from one side and the skyline of new Dubai from the other side.

The project is scheduled for completed by 2015 and expected that the project will cost nearby $43.5 billion.

7. Aladdin City: -

The Aladdin City project is inspired by the well-known tales of Aladdin ans Sinbad. It is started implemented by Dubai Municipality in the middle of Dubai Creek. The city is spread over a distance of 450 meters.

This project will feature three towers, comprising commercial and hotel space, air conditioned bridge with moving floor to connect the towers, driveways and parking lots.

8. Al Mamzar Beachfront: -

The Al Mamzar Beachfront is constructed over 9,000,000 square feet located in Dubai's Al Mamzar district. The Emaar Properties and Dubai Municipality developed the project in front of the beach. It will feature with 4,000 residential units, 250,000 square metres of retail amenities, 300 hotel rooms and 3.5 km jogging track.

The project is scheduled for completed by 2018 and expected that the project will cost nearby $2.72 billion.

9. Desire Island: -

Desire Islands is 15.3 square km waterfront city which is scheduled to be completed by 2018 and expected project cost was $150 million.

This Island is featured with near about hundreds of new hotels, service apartments, buildings and marina. It is also being hosted by attractions of large shopping mall, Arabic souk-style night market, an amphitheatre for more than 20,000 peoples and marina that can accommodate large yachts.

10. MBR City- District One: -

The Mohammed Bin Rashid Al Maktoum City - District One will hand over the first and second phase of villas in mid-2016 and mid-2017. This project constructed over 1,110 acres with super luxuries plan and it located minute way from Burj Khalifa and Dubai Mall. The more than 60 % of area is allocated for green and open space without any congestion.

The MBR City is featured with crystal Lagoons with low-density for swimming, kayaking and other activities. It is also features largest artificial beach for walking, cycling and jogging track on the periphery.