Count down to Expo 2020

Even as dubai waits to hear the final decision on Expo 2020, industry experts are already speculating about the ripple effects that winning the bid is likely to have on the economy, with so much being said and written about the potential boom in jobs, salaries, tourist influx and in particular construction and property prices.
Of course, it is no secret that real estate sale and rental prices in Dubai are increasing steadily. So, it’s hardly surprising that with just a couple of weeks left for the final votes to be cast, investors and residents are wondering how a possible win will impact the city’s property market and the cost of living. The award is most likely to also push further expansion of Dubai World Central airport that recently opened up to passenger traffic and generate greater interest in residential neighbourhoods and business districts in and around the airport such as Jebel Ali, Arabian Ranches and the sprawling Mohammed Bin Rashid City megaproject.
So, while winning the bid is sure to open up additional avenues for trade and hospitality, trigger fresh investment and spur construction, it’s important to remember that at least with respect to real estate, the upward growth in Dubai’s residential property market started much before the Expo bid garnered widespread attention. The market has seen a significant price rally this year, albeit different from the one in 2007, so while winning the bid is likely to contribute to this upturn, it is surely not the cause of it.