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Dubai is the city of possibilities and millions flock to the mainland in search of work, entertainment, and leisure. Consequently, Dubai Real Estate Market is one of the most robust sectors in the city, contributing immensely to the fast-growing economy of the country. With the advent of EXPO 2020, the property market in Dubai is showing a sudden boom, owing to the increasing infrastructural development in the mainland. The impact of the EXPO 2020 event is expected to boost Dubai Real Estate Market further as the demand for rented apartments is on the rise.

 Contribution of EXPO 2020 to Dubai Real Estate Market

The sudden surge in Dubai Real Estate Market is owed to the infrastructure and amenities developed as part of the EXPO 2020 event, in addition to other futuristic projects the government has planned. Moreover, the plans to convert the EXPO site into a commercial and residential city are already in place and the aforementioned ‘District 2020’ is bound to induce further growth in the Dubai Real Estate Market.

The EXPO 2020 event further deliberates Dubai’s futuristic vision of sustainable development showcasing the numerous possibilities that the mainland can offer. In addition to the hospitality industry, other sectors are also expected to grow, opening thousands of job opportunities in various industries including marketing and technology.

Is there an impact of EXPO 2020 on Dubai Real Estate market?

Since the decision to hold EXPO 2020 in Dubai, the number of residential and commercial properties in the city is on a constant rise, as the event is projected to attract over 20 million guests from various parts of the world. This is a brilliant opportunity for investors and landlords to focus on the property market in Dubai as the current trends show a rising demand for apartments, villas, and huge houses.

The popular areas of Dubai and the locations close to the EXPO site are featuring record property sales. According to the data collected by the Dubai Land Department, Dubai recorded property sales worth almost 15 billion Dhs in August alone. When the whole of 2020 reported sales worth AED 71. 87 billion, the first half of 2021 reported a sale worth AED 88.12 billion.

How does EXPO 2020 affect the future of Dubai Real Estate Market?

Dubai being a city of luxury attracts natives and foreigners alike, the safe and inclusive nature of the mainland being a contributing factor to its popularity. EXPO 2020 is thus Dubai’s opportunity to open itself before the world, showing what the city can offer in terms of a location that balanced work with life, modernity with tradition, and nature with culture.

EXPO 2020 is expected to create more job opportunities, encourage investments, and thus aid in the surge of property market in Dubai.

Is it the right time to invest in Dubai Real Estate Market?

Dubai property market is soaring high with the advent of EXPO 2020 and its effects on the Real Estate Sector are expected to be long and lasting.

Owning a property in Dubai requires viable knowledge about the trends and tendencies of the city. For the past 17 years, Flying Colour and Signature Habitat have been assisting clients in investing in properties and finding the right home for them. Please feel free to mail your queries at admin@signaturehabitat.com or contact us at +971 4 542366.