Expo 2020
Otro empujon a la inmobiliaria de UAE cuando Dubai gane la expo 2020 dentro de dos dias!
Tasweek, an Abu Dhabi-based property investor, is among several developers working up plans for housing schemes close to the 438-hectare site.
The private company, set up in 2009 by former the Emaar and Sorouh executive Masood Al Awar, said it had signed a joint venture with a landowner to develop 800 new town houses close to the Exhibition City site.
Tasweek said it planned to start selling the first phase of 400 homes in the coming months and already had investors lined up to buy many of them.
“Lots of developers are buying land in this area,” Mr Al Awar said. “The Expo site will be a new centre for Dubai as it expands beyond Sheikh Zayed Road. This site is only 30 minutes from Abu Dhabi. The development will provide a boost to both Abu Dhabi and Dubai.”
There is less than a week left before the Bureau International des Expositions makes its final decision on whether Dubai will host Expo 2020.
Video sobre el Masterplan: http://www.thenational.ae/business/indu … masterplan
Confirmado Dubai Expo 2020!
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Dubai won by a resounding majority with 116 votes, leaving Yekaterinburg, Russia, with only 47.
A $23 billion boost to the economy by Expo 2020 has been predicted by the Global Emerging Markets report by Bank of America Merrill Lynch.
In true Dubai style the planned 438-hectare site for Expo 2020 is set to be the largest ever created for a World Expo.
The construction industry as a whole is expected to gain from the event, with 30 per cent of the jobs created by Expo 2020 expected to be in construction.
The effect on the job market has been one of the most talked about factors surrounding Expo 2020, with the Department of Tourism and Commerce Marketing predicting 275,000 jobs being created between 2013 and 2021. An impressive figure, the government has said that the growth within this figure will be felt most across construction, engineering, transportation, retail, hospitality and aviation.
An estimated Dhs5 billion is to be invested in transport to and from the Expo event. Central to this expansion will be the new Dubai ExpoRiders, which will include 750 zero emissions buses that will cover the entire city scape through 35 stations.
Expansion to the Dubai metro will also be fast tracked for the 2020 event.
Ohhh yeah…. nosotros queremos estar en el boom!
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Tampoco hay prisa…
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Hopes for a successful Expo bid have already contributed to speculation in the property market, where prices are up some 20 percent over the past 12 months, and the stock market, where the index has soared 79 percent this year.
Further large rises could start to hurt Dubai’s economic competitiveness by raising its cost base – and conceivably set the emirate up for another crash down the road."(The Expo)…is a powerful symbol of Dubai putting the 2009 bust behind it and of the world recognising the strengths of its political stability and its open, export-oriented real economy," said Simon Williams, chief Middle East economist for HSBC.
But he added: "The key challenge policymakers now face isn’t generating growth but managing it, making sure it’s sustainable and well-balanced. Policy decisions over the next 12 months will determine how successful Dubai will be in avoiding a repeat of the boom-and-bust cycle further down the line."
Because of Dubai’s small population, the Expo may have more of an impact on it than most host locations. The government thinks the event will draw over 25 million visitors, 70 percent from outside the United Arab Emirates, and create 277,000 jobs – though some analysts believe those numbers may be too high.
A huge exhibition centre will be built on the 438-hectare Expo site, plus tens of thousands of new hotel rooms and an extension to Dubai’s metro line.
The government expects infrastructure spending to total some $6.8 billion; overall Expo-related spending, including private sector projects, may reach $18.3 billion, HSBC estimated.
By themselves such figures, spread over seven years, look manageable for Dubai’s $90 billion economy. But they come on the back of other grandiose projects announced by Dubai’s real estate developers in the past year, including a replica of the Taj Mahal, a residential area with a giant pyramid, and an apartment complex with penthouses worth $250 million each.
Alan Robertson, regional chief executive for property consultants Jones Lang LaSalle, which advised Dubai on its Expo bid, predicted interest in real estate would now rise further.
"While the Expo will result in long-term benefits to the Dubai economy and the real estate market, the short-term impact needs to be managed carefully to avoid the inevitable boost in sentiment translating into excessive price growth or over-development," he said.
Also, Dubai lacks the oil wealth and deep fiscal reserves of other rich Gulf states, so government-related entities (GREs) look set to finance much of their Expo work with bank loans.
Mucho curro… mucha demanda de alojamiento!
The Dubai Electricity and Water Authority (DEWA) will spend AED20bn ($5.4bn) on three major expansion projects to cope with demand for services during the World Expo in 2020.
The government corporation said the largest portion of the spending would be on a clean coal plant worth AED13bn with a capacity of 1200 mega watts.
Dewa CEO and managing director Saeed Al Tayer said while Dubai had large reserves of electricity and water, the expansion plan aimed to promote sustainable development.
The projects would increase Dewa’s power generation capacity by 20 percent.About 25 million visitors are expected to visit Dubai during the six-month Expo, to be held near Jebel Ali.
Small and medium-sized businesses in Dubai could earn up to AED90bn from the international event, Dubai Economic Department chief economist Mohamed Lahouel told the SME World Summit in Dubai on Wednesday.
“Dubai is targeting a 5 percent growth rate for the next 5 years with macro stability,” Lahouel said.
“Dubai expects a 10 percent growth in visitor numbers every year till 2020, which will meet the 20 million visitor target even if there was no Expo.
“I see a AED90bn opportunity for Dubai’s SMEs with the amount of construction, infrastructure and sales that will be generated.”
The Dubai Municipality planning department this week estimated the emirate’s population would grow from 2.3m to 2.8m by 2020.
Head of planning Najeeb Mohammad Saleh said a committee had recommended that development within Dubai should not exceed Emirates Road to ensure sufficient infrastructure to cope with the influx of people.“To know which direction the city would grow in, we adopted the scenario of a compact city, which has already been adopted and approved,” Saleh told Gulf News.
“So, all the upcoming projects, whether by the government or by property developers, will be within the city and should not exceed beyond Emirates Road.”
Plans announced since the economic crisis already have revealed Dubai’s changed development priority, from inland projects such as Dubailand, to infill, such as the Mohammed Bin Rashid City (MBRC) project announced last year, as well as areas in the south, particularly around the new Dubai World Central (DWC) and Jebel Ali.
Demand For Labour Accommodation Reaches For The Sky
Due to the heightened construction activity in Dubai, labour and staff accommodation is witnessing an increasing demand as developers continue to attract construction workers to prepare for Expo2020