Dubai’s Expo 2020 spurs real estate growth as real estate companies report record sales.Long-term visas for investors and professionals, favorable payment plans and increased flexibility in debt repayment by financial institutions are some of the initiatives that have changed mood.
Expo 2020 – which the government calls “the largest event ever staged in the Arab world will host 190 countries, and millions of visitors from across the globe. Dubai, is betting billions of dollars in its efforts to showcase the Expo as the world’s biggest event ever. The organizers expect 11 million visits by people living in the UAE and 14 million from overseas visitors.
Dubai Expo 2020 is expected to drive residency demand throughout the UAE, and one industry player has already seen increased interest in real estate services.
“The enquiries have come from countries with which the UAE has recently signed treaties and where Dubai has promoted foreign direct investment incentives.”
The investment in Expo and the government spending in the infrastructure around it is one key factor that has been keeping the Dubai economy on track in the recent quarters – Dubai’s economic growth should range between 3.8% and 4.5% over the next few years.
There is no doubt that Dubai’s real estate sector buoyed by the expo is on an upswing nowbelieves the regulatory and infrastructure that it provides is as attractive as any other global city like Paris
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