Throughout its history, Dubai has shown the world what is possible through its extraordinary development. Fourteen years in Dubai and I continue to be inspired and fascinated every single day by the greatness of its landmarks, quality of services, consistent innovation, world-class infrastructure, growth and leadership. Just like any other success story, what we see today is a result of the enormous effort of all stakeholders under the guidance and the vision of HH Sheikh Muhammed Bin Rashid Al Maktoum.
With Expo 2020, Dubai will go a step further in inspiring the next generation to trigger innovations that will underline the next five decades of human progress. Being the first to be hosted by an Arab nation, it is one of the greatest milestones that Dubai is going to achieve. With the theme “Connecting Minds, Creating the Future”, the EXPO 2020 will be a celebration of human brilliance and achievement. I foresee it to be an amazing opportunity for people from every corner of the world, to experience unsurpassed science, technology and innovation. It will undeniably support the growth of tourism, stimulate the development of innovative businesses in the UAE, and enhance Dubai’s already solid international status as a location to do business.
What does the EXPO 2020 mean for real estate?
The emirate’s 50-year plan and the Dubai Expo 2020 will now be key indicators for demand-and-supply trends in the market. I believe that the Dubai real estate market is going to benefit immensely from the Expo 2020 as it is expected to attract 25 million visitors, of which 70 per cent will be from outside the UAE. While this surge in population, albeit transient, it will add significantly to the GDP, and in turn fuel an optimistic market sentiment. It’s commonly known that property values in Dubai have reached record lows and as a result this has lowered the entry barrier for home owners to purchase their first property and investors being presented with exponentially improved returns, this new level of affordability is sure to be alluring for international investors and visitors to the country with the EXPO.