Dubai is one of the few places in the world that offers higher rental yields. Also, the property price per square foot is comparatively lower than other such fancy cities. So, investing in the Dubai real estate market makes sense.
Another reason people want to purchase a property in Dubai is that this place has a world-class infrastructure, is safe, and has better job opportunities.
But before you rush to anything, there is one thing you should know. It’s Expo 2020 and its impact on the future of the Dubai real estate market.
The Dubai Expo 2020 brings a positive change for its real estate and economy. Moreover, it brings a boon and impacts other sectors besides real estate as well, like tourism, retail, hospitality, and education.
Dubai already has beautiful locations and tourist attractions. But with Expo 2020, this place will be able to offer luxury to tourists. This shows that Dubai is ready to level up its real estate game.
But do you know what exactly Expo 2020 is? Why is it a big deal? And what will it bring to Dubai? You can scroll down to know these things.
What is Expo 2020?
Expo 2020 is basically a global event that is started to find solutions and answers to challenges faced by humankind. This event aims to offer a journey by a theme for engaging activities.
It’s organized by governments and international organizations, which gather millions of visitors. Different nations display the craftsmanship and pride information of their place.
In simple terms, you can see Expo 2020 as the world’s educational, historic, and cultural Olympics. This event helps the country come close and share their knowledge to make this world a more livable place.
The products displayed in this event are not meant for marketing only, but they also promote each country’s culture, assets, and history. Since Expo 2020 is so important, the city where it is held becomes a tourism center.
Expo is held once every five years, and each year, there is a theme that aims to bring people together. Each time it’s held for around six months.
The Expo 2020 is organized in Dubai on around 1,080 acres. It was scheduled to be held between 20 October 2020 to 10 April 2021. But due to the ongoing crisis, dates were shifted from 1 October 2021 to 31 March 2022.
The motto of Expo 2020 is “connecting minds, creating the future.” The participants of this year’s Expo 2020 will share their ideas and experiences on the given theme. This event also brings an opportunity for real estate companies in Dubai to spread their wings.
Lastly, with Expo 2020, Dubai can appeal for world-class telecommunications, global financial exchange, independent financial regulator, and foreign investment.
Impact of Expo 2020 on UAE Economy and Dubai Real Estate Market
The Expo Dubai 2020 is a big deal because this event will bring sustainability, opportunity, and mobility to Dubai. If you are wondering how this event will change the economy and real estate investment in Dubai, scroll down to get an answer.
Among the possible sectors that are positively affected by Expo 2020, real estate stands on the top. That’s because, with the return of the Expo, Dubai will be able to offer luxury accommodations to tourists.
There will be an upsurge in Dubai’s property market. But with this event ready to open its door, it will become important for property developers to understand the demands of investors.
Also, commercial real estate brokers and developers must offer the best localities to create perfect space for businesses. So, all in all, it’s safe to say that Expo 2020 will give a chance to real estate developers to take up Dubai’s economy.
After real estate, it’s the economy that will be directly affected by Expo 202o. As soon as Emirates won the Expo 2020 bid, its stock price rose by 4%. Since 2008, it’s the first time when the Emirates economy index has increased by around 3,000 points.
These positive changes were seen at the starting, which concludes that it’s only the beginning of Dubai’s growth. The catering, transportation, hotel activities, and communications will get stronger within the six-month-long event.
It also predicted that the ongoing recession would end with this event. As a result, there will be more tourism, more flights, and more transportation, which will grow Dubai’s economy by 10.5%.
Besides economy and real estate, Expo 2020 will also influence and impact the labor market, media, and infrastructure. Thus, it means that investing in Dubai real estate is a good opportunity.
Top Projects of Dubai Expo 2020
In case you don’t know, Dubai is the first city in the Middle East to host an international event on such a large scale. It will bring prestige and pride to the city.
Here are the top projects of Expo 2020:
- Al Habtoor City
- Dubai Water Canal Project
- Museum of the Future
- Dubai Frame
- Dubai Theme Parks
- Jewel Creek
- Desire Island
- Aladdin City
- MBR City- District One
With these projects, one is likely to see job profit, industrial profit, and growth in tourist visitors in Dubai.
The Expo 2020 will surely boost Dubai’s economy, and most importantly, the real estate sector. So, if you are also interested in purchasing a property, you can contact Allegiance Real Estate.
Our real estate firm is the best because we don’t believe in making false promises. We are a highly innovative real estate brokerage firm that focuses on maximizing each client’s return and transactions.
We can help you find the best places to buy property in Dubai that comes under the Expo 2020 project. You can visit our projects section and can search for a property you want to invest in.
Start the process of property search by entering the property name, location, offering type, property type, bed, price, size, and completion status.
Besides helping the client search Expo 2020 properties, we also offer other services like financing a property, investment advisory, property improvements, property management, property valuation, and interior designing.
So, if you want to get our services, contact us now.