Property | Gulf

Dubai Expo 2020 a game-changer for Gulf

Hosting Expo 2020 in Dubai would have a significant impact on the region's real estate, says Danube chairman

  • Staff Report
  • Published: 17:08 October 17, 2013
  • Gulf News

  • Image Credit: Virendra Saklani/Gulf News Archives
  • Big hoardings near Dubai World Trade Centre supporting Dubai’s bid for Expo 2020.

Dubai: A successful Dubai Expo 2020 bid would be a ‘major game changer’ for the regions burgeoning real estate sector, according to Danube Founder & Chairman Rizwan Sajan.

In a statement on Thursday, Sajan stated that hosting the event in Dubai would lead to “greater optimism and reinforce buoyant confidence” in the industry.

Year-to-date property sales in Dubai have grown beyond 22 per cent, splitting industry leaders and analyst on whether a bubble is emerging.

But Sajan is convinced the economic benefits of a winning Dubai bid for World Expo 2020 would strengthen the market.

“It will create thousands of employment opportunities giving a sizeable impetus to the economic growth in the years to come. All of the sectors, be it construction, trade, tourism, retail will see a boost bringing the world together and showcase not just Dubai, but the UAE and the whole region.” Sajan stated

Hosting Expo 2020 would inject “billions” into the Dubai economy, Andrew Scott, Professor of Economics at the London Business School told Gulf News earlier this month. He said the economy would cumulatively grow by one per cent from the event.

“The massive event will benefit the nation on a long-term basis,” Sajan stated.

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