Over $8bn investment allocated to transport and infrastructure projects in and around the Expo 2020 site so far is driving a construction boom in the UAE, a report has revealed.
An estimated $2bn to $4bn has so far been invested to develop the Expo site, the “Expo 2020 Dubai Infrastructure Development Report” prepared by BNC Network found.
Just like the Eiffel Tower in Paris and the Atomium in Brussels, Dubai is currently building its own iconic World Expo landmarks, with many structures expected to remain as permanent fixtures over a 438 hectare exhibition legacy site, stated the report released on the heels of the opening of The Big 5’s Construction Summit on Sunday.
The Dubai 2020 Urban Master Plan includes blueprints to build a thriving metropolitan district connected with modern infrastructure such as a $2.9bn Dubai Metro Red Line Extension, the $2bn Phase 2 expansion of Al Maktoum International Airport and a $390m in planned road works.
The hosting of the World Expo in Dubai in 2020 has provided a strong stimulus for construction activities in Dubai, with nearly 200 active transport projects currently in the pipeline throughout the UAE to the tune of $34bn, Josine Heijmans, Portfolio Event Director of The Big 5 said.
Keynote speaker at the Big 5’s summit will be Expo 2020 Vice President of Real Estate and Delivery, Ahmed Al Khatib discussing the impact of World Expo on Dubai’s economy and landscape.
The event will showcase and explore current and future trends of the construction sector in Dubai, the GCC region and beyond from 26 to 29 November at the Dubai World Trade Centre. The Big 5 hosts over 2,500 exhibitors from 60 countries, and is expected to attract 78,000 construction industry professionals from all over the world.For all the latest construction 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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