Dubai Expo 2020 has pushed developers to launch 42 development projects in the city this year, which include 17 villa and townhouses projects, reports Emirates 24|7.
According to the data report by Reidin.com, the 42 development projects comprise of approximately 11,250 units. The 17 villa projects house 3,041 units, whereas the remaining 25 residential complexes house 8, 209 apartments.
Renowned private and government owned developers like Emaar Properties, Nakeel and Damac Properties have been instrumental in the various projects launched this year.
Global Investment House, a Kuwait based company, said that a flourishing economy and a stabilizing market is the force moving the UAE’s real estate market and the Dubai Expo will continue to be the main stimulus for the industry.
At the same time, Dubai Land Department (DLD) has reported the registration of 6,636 properties across the Emirate in the first half of 2014.
The UAE real estate market witnessed a stable growth in the second quarter of 2014, and prices of homes grew by 6% in Dubai and 5% in Abu-Dhabi. The Dubai Expo will commence in October 2020 and continue till April 2021. The Expo will approximately create 277,000 new jobs.