Dubai Properties Shaping Expo 2020

by (Aseel Lulu)

Dubai Properties Shaping Expo 2020
With the world’s leading companies attracting abundant opportunities, Expo 2020 is as much universal as it is a domestic event. Major companies led by Emaar have made significant sales which involved property developers, some of whom had successfully sold all the properties they had offered.

Dubai's success will be reflected in hosting Expo 2020 as a major module of global polarization, which will serve and accommodate a diverse range of local as well as international investors. The property market plays a key role in the Dubai’s rich economy, which accounts for about 10 percent of its revenues and relies on a variety of sources including service-based industries and tourism.
Moreover, Dubai has become a major attraction for property investors after opening a market in a region where property ownership is often limited to foreigners. By 2017, According to Dubai Land Department, foreign investors bought over $40 billion dollars’ worth of property in Dubai. The most significant achievement in developing a completely transformed city is the incentive property brokers have shown to help implement the growth and success of these large infrastructure projects.

The UAE property market will witness a pervasive growth rate in major property sectors by the end of 2018 and throughout 2019, benefiting from financial reforms in response to low oil prices. If these estimates prove correct, it would be one of the biggest contributions that aids towards the growth of Dubai Properties, leading to higher sales, which will attract investors to lean more towards buying than leasing a property.

The legacy plans that will live beyond 2020, have been designed to be a "central industrial zone" for four major industries like real estate development, construction, logistics, transport, travel, tourism, and education.  Dubai’s Expo 2020 delivers great benefits to the UAE, the region, and the world through its ongoing growth and ideas regarding new technology and mobility that can make a difference to every human being.

Furthermore, this event will help promote Dubai's position as a global trade hub and an emerging link between Africa, Asia, and South America as well as regional business centers.  With very high expectations in terms of achieving the future vision of this country, Investment activities will be influenced by the growth of the real estate market that relates directly or indirectly to the construction sector.

In regard to the General market trends, Expo 2020 seeks to offer innovation that thrives due to increased spending and rising demand for residential units, hotels, and commercial housing.

In conclusion, the real estate market in the Gulf region is undoubtedly a distinct market that attracts lots of investments in properties today.  Business Professionals anticipate that Expo 2020 will provide great opportunities for Small to Medium Scale Enterprises and young job seekers to grow their businesses and career in collaboration with various large-scale multinational organizations across UAE. It is a prime time for investors to invest in Dubai, as the UAE economy is expected to rise greatly within the next 4 to 5 years.

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