Dubai keeps providing proofs that the World Expo 2020 would be not just an episode in the city’s history, but a new major catalyst for its further development. Earlier, Dubai authorities have repeatedly stressed that all facilities, built for the event, won’t stay unrequired after the exhibition is over. And here comes just another proof to their promises: all the housing constructed in Expo Village for support personnel of the countries participating in the Expo 2020 will be converted into freehold residential apartments after the event is over.
“These accommodations are built for long term and are not temporary buildings,” Najeeb Al Ali, executive director, Expo 2020 Dubai Bureau, told the press recently.
The total amount of funds Dubai authorities plan to spend on hosting Expo 2020, including the construction of various infrastructure facilities for the exhibition, is estimated at USD 7 billion. 70 countries had already signed up to participate in this historical milestone event, while the total number of participating countries is expected to get over 180.
Construction around Expo 2020 site will take in a huge new area of Dubai South, which will organically connect to its major units, including a convention centre and a shopping mall, co-developed by Dubai World Trade Centre and Emaar Properties.
As imexre.com recently reported, for now, 188 tenders for works within Expo 2020 site have already been launched, more than 8,000 suppliers have been registered, and orders worth USD 550 million in total have been raised. 80 per cent of the infrastructure facilities created for the needs of Expo 2020 will be repurposed for future use to serve the city. And as for the residential sector in Expo Village, it is scheduled for completion as soon as by the end of 2018.