CBRE, the real estate consultancy, has confirmed that the real estate sector is one of the most benefiting sectors from the organization of the Expo 2020 Dubai exhibition, in conjunction with the increase in government investments devoted to spending on infrastructure.

The Foundation added in statements to «Emirates Today» that one of the positive results of «Expo» on the real estate sector, the benefit of the planned residential communities next to the exhibition site with the interest of investors, thanks to the expansion of infrastructure projects to these areas, which created new urban communities that pour into the real estate portfolio Urbanism of the city.

Urban communities

In detail, Ria Lobo, a real estate consultancy with strategic advisory services at CBRE Real Estate Consulting, said that the real estate sector is one of the most beneficiaries of the infrastructure projects related to the Expo 2020 Dubai, as the major investment in infrastructure and real estate development contributed to the preparation of the exhibition. Positively supporting the sector.

She added that the infrastructure projects extended to all areas near and far from the site of the event, which created new urban communities that pour into the real estate and urban portfolio of the city.

She stressed that it is likely that the planned residential communities near the Expo site will receive the attention of investors due to their spatial proximity.

Organizational structure

She continued: «The organizational structure of the real estate sector is one of the things that (Expo 2020 Dubai) had an impact on, as the sector has benefited from the creation of its own decisions and is concerned with its regulation, most notably the creation of a committee organizing the real estate market to balance between demand and supply, which has already created a balance in the market, According to the Dubai Land Department, the number of residential transactions in the third quarter of 2019 increased by 42% compared to the same period last year.

She stressed that the government aims, through developing the infrastructure and organizational structures, and proposing major initiatives in the period leading up to the exhibition, to drive the economy, attract investment, provide job opportunities, and promote innovation in the long run, noting that among the most prominent of these initiatives are long-term visas, and allowing ownership 100% full foreign, golden visa.

Legacy of the exhibition

Lobo pointed out that the expected spending from visitors to the exhibition will generate double demand for the retail, hospitality, and tourism sectors, and this momentum is expected to continue after even after the exhibition ends in 2021, as Vision 2021 aims to keep the exhibition's legacy alive to continue to drive growth in Dubai, with the exhibition site transformed into 'District 2020'.

As part of the exhibition’s legacy, the sustainability pavilion will be transformed into a center for children and science, and the mobility pavilion will be converted into a commercial building that provides high-level office space, while the government will manage the UAE pavilion, and the Dubai Exhibition Center will be preserved as an essential part of the Expo 2020 Dubai legacy. The exhibition site will be home to cultural and artistic landmarks, cooperative workspaces, residential communities, exhibition centers, parks and open spaces, and (District 2020) will be linked through the dedicated metro (Path 2020) with the rest of the other major communities in Dubai. ”

Lobo pointed out that the future planning of the exhibition confirms the retention of 80% of investments in infrastructure, transportation, buildings, and advanced technologies that were specifically designed to host the event spanning an area of ​​three million square meters, as this region is expected to be an integrated future community that welcomes creators, artists and businessmen .

Global business center

Ruba Lobo, a strategic advisory services analyst at CBRE Real Estate Consulting, confirmed that Expo 2020 Dubai will enhance Dubai's position as a global business and entertainment hub, and supports demand for key sectors such as real estate, tourism and trade in the long run, while The subsequent period of the exhibition will provide tremendous opportunities for Dubai to shape its future economy and promote sustainable growth in the long run.

• One of the positive results of the "Expo" on the property is the benefit of the planned residential communities next to the exhibition site with the interest of the investors.