Since the opening of Expo 2020 on October 1, 2021, Dubai has impressed millions of visitors with its stunning architecture, sustainable human-centric design, and innovation seamlessly embedded into every aspect of daily life.
As visitors (many coming to the UAE for the first time) are enticed by this vibrant urban environment, demand for short term rental units and interest in property ownership, either as a resident or an investor, continues to rise.
But what will happen when the doors close on March 31?
Connect, create, innovate
Once the show is over, the Expo 2020 site itself will evolve into a unique urban development. Eighty percent of the structures will be repurposed into an integrated mixed-use community, where everything you could possibly want is no more than a 15 minute walk or bike ride from your home. District 2020 and the surrounding area has been incorporated into Dubai’s 2040 Urban Master Plan – this is only the beginning of a remarkable recovery.
Historically, Expo host cities experience an upswing in property prices as foreign investors like what they see. Most of these host cities (with the exception of Shanghai), have been well established destinations with stable housing markets and populations.
Dubai is uniquely placed, in that it is a rapidly expanding city with unrivalled growth opportunities. Skilled workers in all fields are attracted by top-class healthcare, education, and an unparalleled lifestyle whatever their interests outside of work. Demand is already beginning to outstrip supply, a trend which will endure as international interest skyrockets.
A sustainable outlook
Sustainability is a core value of Expo 2020, and one which resonates with today’s conscious consumers. Sustainable urban environments, low carbon impact, and energy efficient smart homes built using environmentally sensitive materials are prioritised by today’s buyers.
Dubai’s innovation economy and use of disruptive technologies pave the way for new and exciting ways of reducing our environmental impact. This really makes the Emirate shine at a time when people worldwide are looking to reduce their footprint.
Buyers really can have it all in Dubai: A smaller carbon footprint. A gorgeous sustainable home in a breathtaking location that invites connection, community, comfort, and convenience.
An innovation ecosystem
It’s evident that Expo 2020 has opened the eyes of the world to the dynamic opportunities Dubai offers its residents, and this has supercharged the property market. We expect that values will carry on rising as long term tenants switch from renting to ownership, securing their spot in this desirable market.
The UAE’s stellar management of Covid-19, the introduction of the ‘golden visa’ programme, improving diplomatic relations, and the opportunity to captivate a global audience with Expo 2020, have all been catalysts for a property market which experts predict will continue its upward trajectory for some time.
As we reshape the way we live post pandemic, Dubai’s digital transformation is creating resilient economic growth with citizen happiness and wellbeing at its heart.
Dubai has opened its arms to the world, and the world wants in.
Anna Skigin is the CEO of Frank Porter
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