Hamad AlWazzan | Dubai´s temporary real estate boom!
Since the announcement of Expo 2020, there has been an increase of residential and commercial development at the site and across the UAE. New shopping centers, hotels and over 400 restaurants as well as luxury housing and cycling paths have been completed to cater to the needs of this worldwide event. According to real estate expert, Hamad AlWazzan the event is estimated to bring in Dhs122bn to the overall UAE economy. “While that will largely be made up of the tourism, hospitality and F&B industries, there has been a notice able uptick in demand for rented apartments as a projected increase of visitors are expected to gather in Dubai. It is the perfect opportunity for landowners and investors who are on the lookout for a strong market for their properties”, he added “Despite the recent challenges posed by the Covid-19 pandemic, 74 per cent of respondents are anticipating a recovery for the MENA region’s real estate industry within one to two years since 2020. A key prop