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Whilst Dubai waits to hear if it has been awarded the 2020 World Expo, JLL MENA believes the Dubai real estate market is poised for growth regardless of the decision.
"Whilst Dubai waits to hear if it has been awarded the
2020 World Expo, JLL MENA believes the Dubai real estate market is poised for growth regardless of the decision. However, a successful bid will act as the single most important influence on the real estate sector in the UAE in 2014." says
Alan Robertson, CEO of JLL MENA.
In terms of the real estate market, the most significant legacy benefits of hosting Expo 2020 will be to bring forward the timing of a number of major infrastructure projects and to provide the impetus to develop a whole new urban district (Dubai World Central) to the south of the existing urban area.
Al Maktoum International Airport (AMIA) forms the centerpiece of Dubai World Central and is one of the largest and most ambitious airport based cities (or Aerotroplis) planned around the world. The airport has been open for Cargo operations since 2010 and passenger services commenced from the new airport in October 2013.
World Expo 2020 will act as a major catalyst, accelerating the expansion of passenger facilities at AMIA, which is ideally located to cater for international visitors to the Expo.
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