How is Expo 2020 going to affect the Real Estate Market?
2020 was a challenging year for all of us, but we have started this year with a bang and with Expo 2020 on its way in October 2021 we are ready for the world’s biggest event. Will the Expo still have a great impact on the real estate market and how is this event going to play for everyone who is looking to invest in property?
Read through this article to gauge on the impacts of Expo on Dubai’s real estate market.
What is Expo2020?
Expo2020 is a way to celebrate brilliance in human achievement and to showcase world class luxury, innovation, technology, science and arts. It is an opportunity for the world to come together and honor the remarkable developments the country has proven throughout its history. Expo2020, due to the corona virus has been postponed to October 2021 – April 2022 where strict measures and rules will be followed to maintain the safety of the people. The Expo 2020 is here to inspire young minds and bring about change in the world. Visit their website https://www.expo2020dubai.com/ to know more about this festival and book your tickets in advance to witness this event.
Expo 2020 and UAE’s economy
According to Arabian global, Expo 2020 is aiming to attract over 15 million unique visitors from all parts of the world while according to an Ernst & Young (EY) report, the legacy period of Expo 2020 – estimated between 2021 and 2031 – is expected to contribute AED 62.2 billion in gross value added (GVA) to the UAE economy.
Impacts on Dubai’s real estate market
Long-term visas and now the Emirati citizenship have increased the motive behind investments in the UAE. The Economic times believes that there will be a growth surge in this market as it has previously shown increase in the local economy and prices of real estate for all those countries that have hosted the Expo. That is the power of the Expo. Post expo there is going to be an increase in investors who are going to make Dubai their base because of excellent infrastructure and regulatory bodies. The luxury factor is strong reason for newer investments especially for Indians and Europeans. The Economic Times also states that the expo is a right time to invest in Dubai as it offers high rental yields with soaring returns.
The Arab Expo 2020 is set to be the largest expo yet and it comes with opportunities for jobs and investments. The theme ‘connecting minds, creating future’ truly defines what the Expo 2020 is all about.
