Expo 2020 lures big players to Dubai

Amush Malik, 19 August, 2014

It is beyond doubt that ever since Dubai bagged the World Expo 2020 bid, its real estate market has seen an upward trend and Dubai's developers are now eyeing global investors for their projects.

Because of Expo 2020, many developers have started a number of projects that are becoming good investment bets and promise no dearth in profit. The Expo has brought in some big names as well, which can only be good for the market.

According to search trends from the UAE’s leading property portal Bayut.com, Dubai’s property market portrays an interesting picture. With a whopping score of 100, Dubai Marina tops the popularity index – which means that most people who used the portal to look for real estate searched for property in Dubai Marina and the locality is a hot ground for property investment.

In tow were Downtown Dubai and Jumeirah Lake Towers, both of which have recently inched up the index with rising investor interest, bumping down Dubailand to fourth place. 

This rise and fall is due to the fact that localities in the vicinity of Dubai World Central HQ tend to have more potential for real estate developers to kick off new projects.

Dubai's property market seems to have bounced back from its woeful years following the crash of 2008-2009, and its potential has once again started pulling in investors from across the world. Recently, Indian film star Shah Rukh Khan, who owns a villa on the man-made Palm Jumeirah Island, endorsed an AED 2.3 billion project in Dubai Investment Park and showed great interest by coming up with design and landscaping suggestions. Dubai Investment Park is a 12-minute drive from Dubai World Central HQ and is highly likely to attract a substantial number of investors wishing to establish themselves nearby ahead of the Expo.

Earlier in June 2014, Danube Properties launched its 'Dreamz by Danube' real estate project in Al Furjan. Indian cricket legend Sunil Gavaskar inaugurated the project and, as a sign of good will, purchased a town house at a discounted rate. At a mere 30-minute drive from Dubai World Central HQ, the project also benefits from its location and has generate good interest among investors.

According to a news report, the trend of purchasing property in Dubai among international celebrities has increased, which solidifies the position of projects they invest in as they become the confident face of a developments all over the emirate. Palm Jebel Ali and Jumeirah Lakes Towers have also attracted renewed attention since news broke of the world’s first Dome City project planned for the area.

Thus with the Expo approaching, the number of great projects popping up in and around Dubai have increased, and so have the number of investors. If there was ever a good time to invest in Dubai real estate, it is now.

Tags: interest | Investment | Invest | Investment | investment | Dubai | India |



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