Expo’s impact on the real estate sector before, during and after the event
February 14, 2022
Expo Dubai 2020 has brought about a qualitative shift in Dubai's real estate sector since the announcement of the emirate’s victory in 2013, from this time the sector began to take trends that affected the market with the quantity and quality of projects that were needed to meet the nature of the demand for real estate that serves the event, especially in the field of hospitality and hotelsExpo 2020 contributed to the development of all economic sectors without exception that related to the sector, whether directly or indirectly, as any economic activity needs some kind of real estate units, trade needs commercial spaces, tourism needs hotels, hospitality and entertainment need facilities, restaurants and cafes, the services and industry sectors need offices and factories, all of which do not dispense with the main nerve real estate to launch their projects, and was an opportunity for the real estate sector to contain demand and prove its usefulness in practice and instill a sense of optimism Developers and investors alike have the event resulting in an increase in the volume of project implementation at an accelerated pace, which reached what looks like a bubble or a real estate explosion if we look at the number of real estate units that entered the market today that exceeded demand, where the market was hit by a snout of offer that eventually affected prices.The data generated by the event represented an opportunity to offset and enhance the lost gains in the real estate sector between 2008 and 2011 and the developers focused their attention on rapidly profitable projects and long-term projects that would provide long-term benefits, especially those related to the emirate’s citizens, expatriates, and existing companies.The positive privileges that Expo will add to Dubai and its economy as it is expected to contribute about $24 billion to the emirate’s economy, has prompted the stimulation of the real estate sector in terms of sales and the number of projects offered that will serve demand after the end of the event according to correct information and not based solely on forecasts.Positive data were smartly handled during the expo period, which is estimated at six months and the extension of vision beyond that to achieve an effective equation like real estate projects geared to investment on the one hand and to maintain the growth of the real estate market on the other, and the continued recovery of the market and plans aimed at the redevelopment of the Expo area to become a multi-use residential area added to the Dubai South region after the end of the event
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