Expo 2020 will strengthen real estate in Dubai. Do you want to know how? If yes, then read the article!
Infrastructure: Constructions and infrastructure will be given a boost. Numerous projects will be executed to make the city eye-gluing. The government has decided to build Dubai Water Canal, parks and museums due to Expo 2020. The government has assigned around 100 projects to build the city, according to Dubai local news. The projects cost them more than AED 11 billion. Besides, around 1200 projects were assigned due to the festival. The constructors are tasked to make roads, Expo site that would cover the area of around five square kilometers.
Foreign investments: Dubai has been attracting and it will attract more foreign investment because of Expo 2020, although, the city gets a lot of investment because it is stable and secure in MENA region. It will give ground to investors to double their money. Therefore, they invest in real state or in properties in Dubai from October 2020 April 2021. These investments will boost economy of the city and help real state agents to earn more in upcoming six months.
Employment: There is need to make roads, construct Expo site, museums and hotels; therefore, there will be need to hire employees and labor who could accomplish the task faster. Thus, Expo 2020 is providing job opportunities and employment opportunities to the citizens which not only give benefits to employed people but country will be benefited as well because it will earn triple of the money it spent. According to the report of the Standard Chartered, around 300,000 new jobs will be provided in Dubai because of Expo 2020. This will increase demand of housing; therefore, luxury yet affordable houses will be made soon.
Hospitality Sector: It is estimated that 25 million people will come in Expo 2020 and 70 percent of them will be foreigners. It means that there will be need to construct more hotels and residential places.
Expo 2020 will boost hospitality sector in Dubai, according to construction news Middle East. According to research, there are around hundred hotels under construction on Dubai. Hotels will provide area to foreigners to stay and reside. The more there will be five star hotels, the more the visitors will be catered.
Lots of money: Expo 2020 will bring lots of money in Dubai. Business tycoon will invest in properties and companies in Dubai which will boost the city’s economy. This money will help to elevate the lifestyle of residents and work on the designing of the city.