It came to no surprise that Dubai won its bid for Expo 2020. Hosting World Expo 2020 in Dubai is sure to make the emirate city one of the most prominent tourist destinations before and after 2020. World Expos attract millions of visitors and with Dubai being the first city in the MENASA region to host such a celebrated international exhibition, expectations are great to raise the overall GDP of the UAE in a variety of sectors.
The World Expo in 2020 at Dubai World Central, under the theme of “connecting minds, creating the future,” is sure to give companies and professionals a push to increase their presence in the Emirates. The event is scheduled to run from October 21 until April 21, 2021.
Soon after the announcement that the Bureau of International Expositions (BIE) in Paris (November 2013) designed Dubai as the host city of the World Expo 2020, there has been an acceleration of several turnkey contract projects in the real estate and construction industry: hospitality/tourism, residential, commercial/retail.
As expected, huge investments are transpiring in the hospitality industry sector to accommodate the expected 25million of visitors from all over the world. Dubai is anticipating committing Dh25 billion in total investments for infrastructure-related projects ahead of the Expo, said Khalid Bin Kalban, CEO, Dubai Investments.
To keep up with the number of tourists set for Dubai, there is currently the construction of more hotels and resorts. Many of them are to be completed much before 2020. In fact, the Dubai government says that the Expo 2020 master plan remains on track for the completion of all major construction activities on site by October 2019.
Regarding new projects to prepare for the opening of the Expo 2020, Paramount Hotels & Resorts, which offers the most luxurious hospitality services for visitors, will play a major role in providing units and hotel rooms within Dubai.
There are also preparations to open (in 2016) three DAMAC Maison-Paramount Towers and one DAMAC Paramount Hotel & Residence, which are all to be a 68-storey, 279-metre-tall (915 ft.) structure. Construction is already under way in Downtown Dubai with each of the four towers being constructed simultaneously. The four-tower development overlooking the Burj Area, Dubai is expected to cost US$1 billion.
In addition, other major infrastructure projects (railway and road system) have started in Dubai for the Expo 2020 transport grid. As 2020 gets closer, the Roads and Transport Authority (RTA) made plans to extend Dubai Metro’s Red Line to Dubai World Central and are upgrading surrounding roads and junctions leading to the site of the Expo, told Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA.
In addition, there is to be an underground railway system to connect the Al Wasl with the outer pavilions, as well as extending the Dubai Metro to the Al Maktoum Airport.
Dubai Expo will open up unlimited opportunities for jobs in the services sector for residents and citizens as well, Reem Ibrahim Al Hashimy, Minister of State and Managing Director of the Higher Committee for Hosting the World Expo 2020 in Dubai said.
As the country prepares to host the World Expo 2020, also temporary jobs will become an important part of the UAE workforce offer leading up to Expo 2020. Hashimy said Expo 2020 will provide 277,000 new job opportunities (to be created across all industries) and will have a positive and comprehensive economic impact on SMEs.