The combined value of the Expo 2020 Dubai-related development projects has touched $33 billion, according to a new report.
The figure comes as the UAE begins the three-year countdown for the six-month-long mega global event that will kick-off on October 20, 2020.
BNC Network, the project research and intelligence provider, said the $33 billion includes projects such as transport infrastructure, as well as mixed-use projects, residential, commercial, hospitality and a golf course.
It said these projects will create 500,000 new jobs over the next eight years, with more than 2,000 civil structures being built in Dubai South, the 145 sq km mixed-use development.
“As it stands, Dubai is getting ready to host the Expo 2020 and the emirate is way ahead in terms of its readiness to host the mega event – taking place in the Middle East for the first time in the event’s more than 150 years of history,” said Avin Gidwani, CEO of BNC Network.
“While driving past some of the major highways, one would notice the hectic construction activities on the highways and both sides of these highways – that reflect the pace of development work in the emirate. Most of the projects are on a fast-track basis, intended to expand the hotel inventory.
“Both the public and private sectors have mobilized their best resources to complete these projects on time.”
Dubai South has been divided into separate functional districts, such as the Logistics District, the Residential District which is expected to accommodate 250,000 residents, the Commercial District to provide employment opportunities for an estimated 150,000 people, the Exhibition District, that will host the World Expo 2020 site, and the Aviation District.
Earlier this week, Expo 2020 Dubai launched its search for more than 30,000 volunteers who will be the "face" of the largest global gathering ever to be staged in the Middle East, Africa and South Asia.
Organisers said the volunteers will play a crucial role in Expo, building on the UAE’s global tradition of hospitality by welcoming up to 25 million visits during the six-month event.
Of these, 70 percent are expected to come from outside the UAE, an unprecedented proportion in the 166-year history of World Expos.For all the latest business 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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