The countdown is on and the city is getting ready for the most anticipated event both in the UAE and globally, but what can we expect from Expo 2020? Here is everything you need to know about this event.
What is a World Expo?
An Expo is a global event that is dedicated to find solutions to fundamental challenges that the world is currently facing. This enormous event is organized by the governments and will bring together countries and international organizations from all over the world. These major public events are unparalleled in their ability to gather millions of visitors, create new dynamics and catalyze change in their hosting cities.
With Expo 2020 being held in Dubai, it is expected that this prestigious event will attract 25 million unique visitors from 180 nations and up to 33 million visits over the 6 months period the event will be held on. It is important to note that a good number of these visitors will eventually settle in the city even after the event is completed as new companies and opportunities will emerge.
Who is taking part?
Over 190 different countries confirmed their participation in Expo 2020 Dubai, making it the most inclusive and international Expo ever to be organized. This event will also be graced by many international organizations and official participants.
When is the event?
There’s only few months left until tickets for Expo 2020 kicks off, this well awaited event will start in 20 October 2020 and end in 10 April 2021 lasting for 173 days, with pavilions open and entertainment scheduled between 10 am and 1 am on weekdays, and 10 am to 2 am on weekends.
Where will Expo 2020 take place?
Expo 2020 will be held in Dubai South District, near Al Maktoum International Airport. A great location which is at a close proximity to Dubai’s city center, keeping in mind the size of this magnificent event. There will be a lot of transports dedicated to this event including a metro station that is being built that can handle up to 44,000 passenger per hour.
How will Expo 2020 effect Dubai?
The 2020 World Expo is expected to be one of the largest events of its kind ever seen in the Arab world, with over 190 nations taking part, including the US, UK, Germany, France, Brazil and Nigeria, and is set to boost the UAE's global recognition, encourage economic and cultural growth and, as promised by experts, leave a long-term legacy.
Around 25 million visitors are estimated to attend Expo 2020 during its duration, which will definitely cause a huge economic boost. It was even estimated that straight after the successful bid, there was a 4% increase on the country’s stock market, the first of its kind since last few years.
Clearly the city will capture the world’s attention even before the event. The positive impact of this huge global event on the UAE economy will be enormous. Around 275,000 new jobs will be created and there will be significant increase in the demand of all key sectors including real estate, tourism, retail, technology, healthcare and education.
What will the impact be on Dubai’s Real Estate Market?
The Expo project will undoubtedly boost the real estate sector in Dubai. Offplan sales in key locations such as Dubai South which is where the event will located saw an increase of upto 285% compared with the last year.
You could only imagine how prices of the same units will even further increase when the site is completely ready and is home to around 1 million residents.
This huge number of visitors will create a huge upsurge for the economy, most specifically in the Dubai real estate market. The rental demand will increase significantly during the Expo 2020, giving the landlord the advantage and flexibility to adjust rental prices to increase their profits. Indeed before the event starts is the best time to invest in the property market in Dubai and with this vision slowly turning into a reality, landlords are seeing a strong market for the upcoming years.
Expo Golf Villas – The Perfect Expo 2020 investment
A pioneering project by Emaar, Expo Golf Villas are a true ode to the bright future of Dubai. Located only minutes away from Expo 2020, Championship golf course and the upcoming global aviation hub, the Al Maktoum Airport, Expo Golf Villas are a fantastic investment opportunity for the discerning investor. Starting at a very reasonable price of just AED 999,888 in one of Dubai hottest locations.
What will the Dubai property market look like after Expo 2020?
Predicting how the market will look like post Expo 2020 isn’t easy. However, from the stats and the knowledge we do have about the current market, property supply and the plans post the event, we can notice lot of actions being taken in order for the event to have maximum economic impact but yet avoid any withdrawal symptoms after most of the visitors head back to their home countries.
One of the initiative done by the government which we believe will have a huge impact on the post Expo 2020 real estate market is the new visa rules, these new rules include 10 year residency visa and permanent residency, which will make it easier for those who see Dubai as a world hub to settle and become contributors to the city’s real estate market stabilizing the market prices.
How can you get involved in the event?
There are many ways in which you can contribute in making this event successful whether you are a local or an expat. However, Expo volunteers will be the biggest contributors to the event as it is estimated that around 30,000 people will volunteer, helping the event become successful. Alternatively you can apply as a business, official participant or even just find a suitable job in the events official jobs portal.
We hope this short guide on Expo 2020 was helpful, if interested to learn more about investing in Dubai's real estate market to take full advantage of this once in a life time event, feel free to get in touch with one of our real estate experts to get a free real estate consultation.