The staff housing buildings developed at the Expo Village for participating countries will be converted into freehold residential apartments after Dubai Expo 2020.
Construction has already started on the residential development, which is slated for completion in 2018.
“These accommodations are built for long term and are not temporary buildings,” Najeeb Al Ali, executive director, Expo 2020 Dubai Bureau, told Arabian Business.
"They will be converted for freehold residential apartments after we close the doors on Expo.
“As part of Expo 2020, we are obliged to offer accommodation for all the participating countries. The Expo Village is going to be designed for the participants, not only for the six months, but also allows them to overlook and oversee the construction of the own sites at the Expo venue,” he added.
No details were given on the number of buildings/units being developed.
The total capital spending for the Expo is estimated at $7 billion (AED25.69 billion) with 70 countries signing up so far.
The Expo site in Dubai South is bracing up for more development activity which includes a convention centre and a shopping mall, co-developed by Dubai World Trade Centre and Emaar Properties.
Besides, Dubai South, as a master developer, is already working on new residential developments, while private developers are following suit.
Expo 2020 is expected to have participation from over 180 countries and will serve as a catalyst, connecting minds and inspiring participants to mobilise themselves around shared challenges.
Al Ali said they were expecting more countries to sign up in the near future, but there was no deadline for countries to confirm their participation.
“We are expecting to get over 180 countries. There is no deadline. We are already quite advanced in terms of signing up with countries as we are roughly four years away from hosting the event,” he added.
Dubai will host the event from October 20, 2020 to April 10, 2021.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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