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1,000 days to go until Expo 2020
Work in progress on Al Wasl Plaza, the central point of the Expo site connecting three Theme Districts.
dubai - It presents opportunities for businesses in construction, real estate, hospitality, tourism and aviation industries
- Khaleej Times (@khaleejtimes) January 23, 2018
Set to open doors to the world on October 20, 2020, Expo 2020 on Monday awarded two major contracts worth Dh670 million to Laing O'Rourke to build two pavilions and an access road for Expo 2020.
The organisers awarded construction contracts worth more than Dh10.8 billion in 2017 while Dh411 million was allocated for non-construction contracts. In total, 2,745 contracts have been awarded to date.
"It is fair to say the property sector is placing great emphasis on Expo 2020, riding the coat-tails of this very prestigious international event. 1000 days to go, we are all going to be very busy making sure Expo 2020 is a incredible success. Exciting times lie ahead," said Jason Hayes, founder and CEO, LuxuryProperty.com.
Vijay Doshi, founder and managing director, Vincitore Real Estate, said the reverberations of Expo 2020 can be felt throughout the property market.
"For one, significant cash flow amounting to close to $40 billion is expected to be injected into the economy in the run-up to the event. This will be supported by an influx of more than 20 million visitors and help create over 300,000 new jobs in the process. Such large numbers of tourists will help Dubai's hospitality and tourism industries to generate revenue to strengthen the economy," said Doshi.
The emirate will preserve the site and transform it into a legacy. Not just that, Expo 2020 will also set the standards for sustainability guidelines for future projects within and outside the UAE, said Ahmed Al Khatib, VP real estate and delivery, Expo 2020 Bureau.
- waheedabbas@khaleejtimes.com
With inputs from Deepthi Nair
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