Expo 2020 – A game-changer event for Dubai real estate sector

Expo 2020 – A successful event amidst the pandemic

Conducting a successful event at such a large scale amidst the fear of coronavirus spread can be challenging for any country. However, the UAE’s government pulled it off successfully through a successful vaccination drive against coronavirus and the implementation of strict rules and regulations to curb the spread. Undoubtedly, Dubai has become the first city in the Middle East to hold and handle this mega event at such a large scale and that too, amidst the global pandemic. Hats off to Dubai!

Dubai planned it well…

No one hardly sees the hard work and utmost efforts that the UAE government and the private sector have conducted while gearing up to benefit from the mega event. Not just the government institutions but the hospitality sector but tourism, retail, transportation, banking, and real estate sectors all came together to make it happen. Eventually, these all sectors in general and real estate in particular (especially, Dubai real estate sector) are expected to enjoy substantial growth in the years to come.

Expo 2020’s impact on infrastructure and construction sector

When it was announced that Expo 2020 will be held in Dubai, no one knew that the global pandemic will almost change the outlook of the entire world. Though Expo 2020 was also delayed for a year but all major real estate developers remained fully focused on faster execution of the under-construction projects in order to deliver before the event, without compromising on the quality of construction and facilities. Though not all the developers had the capacity to fully deliver the projects but major developers made it possible to bring a number of luxury property projects in Dubai on the market.

Due to this determination, it became possible to deliver several luxury real estate projects on time that can woo potential investors, visiting Dubai for Expo 2020 with a mind-set to discover Dubai real estate sector as well. The officials forecasted to receive almost 25 million visitors for the Expo 2020 event and by the end of December 2021, more than 10 million visitors have already visited it, of which almost 70% were overseas visitors. To cater to their short-term stay needs, Dubai’s hospitality sector was more than ready, which gave a big boost to the Dubai hospitality sector in terms of huge revenues.

Expo 2020 transformed the landscape of Dubai

Yes! It is not wrong to state that Expo 2020 has completely transformed the landscape of Dubai. Previously, a large number of people were considering it a tourist destination, with much to offer to them but now, they have a new reason to visit Dubai, which has completely altered their vision about this city. Despite all the crisis and economic crunch, the UAE government has overcome all the challenges and conducted this event successfully. According to a rough estimate, almost 5% of the total visitors are those who are expected to return to Dubai to reside in.

According to the Dubai Land Department (DLD)…

According to official figures released by the Dubai Land Department (DLD), a total of 84,772 real estate transactions took place in 2021, worth around AED300 billion. And out of these transactions, almost 18,000 transactions were conducted during Q4 of 2021. It shows the confidence of international and local investors in the **Dubai real estate **market.

District 2020 – The next step

Expo 2020, one of the most successful global events, proved to be a game-changer for the Dubai real estate market. However, things will not just end here but the sector is expected to continue getting benefits from Expo 2020, even after the event will be closed by the end of March 2022. It is planned to transform the Expo 2020 site into District 2020, which will be a sustainable and mixed-use project in Dubai.

It is estimated that almost 80 per cent of the total infrastructure of the world’s largest expo will either be retained or reused to create residential and commercial spaces.

District 2020 – A lasting impact of Expo 2020 on Dubai real estate sector

A majority of real estate experts are sure to receive a positive response and a higher level of interest from the property buyers and investors for District 2020. It is because whenever Dubai plans something, the result is always authentic, majestic and awe-inspiring. Therefore, it is the right time to invest your stakes in the future vision of Expo 2020 i.e. District 2020.

The experts are also of the view that District 2020 will not be the only real estate project that potential investors would be eyeing but all major areas and residential and commercial projects around Expo 2020 site will be positively impacted. Dubai property sector’s forecast is a higher demand for Dubai real estate properties and increased property prices in the years to come. Isn’t it the right time to be a part of the Dubai real estate sector?

If yes, then you must do it with the real estate experts, who know this market better than others. Copperstones** **understand Dubai real estate market like no others and we always have bespoke investment plans along with the curated list of properties worth investing in. All you need is to pick up your cell phone and drop us a call or text at +44 203 888 5555 or write us an email at enquiry(at)copperstones(dotted)net. One of our experts will get back to you with an investment plan to help you meet your future goals.