The combined value of the Expo 2020 Dubai-related development projects has touched $33 billion, according to a new report.
The figure comes as the UAE begins the three-year countdown for the six-month-long mega global event that will kick-off on October 20, 2020.
BNC Network, the project research and intelligence provider, said the $33 billion includes projects such as transport infrastructure, as well as mixed-use projects, residential, commercial, hospitality and a golf course.
It said these projects will create 500,000 new jobs over the next eight years, with more than 2,000 civil structures being built in Dubai South, the 145 sq km mixed-use development.
“As it stands, Dubai is getting ready to host the Expo 2020 and the emirate is way ahead in terms of its readiness to host the mega event – taking place in the Middle East for the first time in the event’s more than 150 years of history,” said Avin Gidwani, CEO of BNC Network.
“While driving past some of the major highways, one would notice the hectic construction activities on the highways and both sides of these highways – that reflect the pace of development work in the emirate. Most of the projects are on a fast-track basis, intended to expand the hotel inventory. More info
By Staff arabianbusiness.com