Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Dubai to spend AED 11 billion for Expo 2020 facilities construction

05.02.2017
Dubai to spend AED 11 billion for Expo 2020 facilities construction

The emirate’s authorities awarded 47 construction contracts for major Expo 2020 projects.

Dubai’s active preparation for Expo 2020, the most important event of the decade, which is about to define the city’s visage for coming years goes ahead of schedule. The Expo 2020 Bureau in charge of the event announced that it would spend AED 11 billion (USD 3 billion) this year to create basic facilities for the World Exhibition. This is an estimated total cost of 47 new contracts awarded to the site master developers and private companies responsible for construction of main pavilions and all the necessary infrastructure units in Dubai South area, designated to host the event.

Contracts awarded imply the third major infrastructure works package, as well as three Thematic Districts where most of the pavilions will be concentrated. Another batch of contracts was awarded for creation of temporary architectural compositions and structures to be built only for the time of the event. AED 360 million more will be spent on related services covering everything from merchandising to event-management and legal support.

It is expected that preparations for Expo 2020 in Dubai having entered the active phase, with awarding the bulk of construction contracts will stimulate investment activity in the emirate and will become a catalyst for buying activity upturn in the housing market.

Tim Fox, Emirates NBD’s chief economist and the head of research, said: "Construction is likely to be a key sector driving the UAE economy this year, with preparation for Expo 2020 one of the main reasons we are expecting overall growth in the economy to recover from an estimated 3 per cent rate in 2016 to 3.4 per cent in 2017."

Latest Availability
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
730,000
Ref.No: AP165
Studio Apt
630 ft2
1,159 AED/ft2
SALE
2,350,000
Ref.No: AP670
1BR Apt
1,308 ft2
0 AED/ft2
Latest property news
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
SOGA1  SOGA2
Call management
SOGA1  SOGA2
Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management