Dubai: The initial works on the Expo 2020 site have commenced — with the land now ready and the Expo Dubai Bureau set to announce the names of contractors executing the infrastructure work.
Najeeb Al Ali, executive director of Expo 2020, said: “We have an overall master plan and we are well into our initial phases … and we are going as per the initial plan. Everything is on track with no delays.
Construction companies in the region have been facing growing challenges through 2016 and much of 2015 with some of the biggest names like Arabtec and Drake and Scull recording large losses. This stemmed from delays in payment cycles, lower profit margins, and higher provisions.
With a slowdown in supply lately, the awarding of contracts for Expo 2020 has been highly anticipated by contractors to bring in new revenue sources.
The Expo 2020 Dubai Bureau has already awarded the first package for infrastructure works, and plans to award further additional ones over the next couple of quarters, a spokesperson said.
In 2018, the infrastructure requirements will be complete, while construction that the Bureau is directly responsible for should be over by late 2019. There will also be work associated with different countries on their national pavilions, and each country is responsible for that. More info
By Sarah Diaa Staff Reporter www.gulfnews.com