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Development to pick up pace as Dubai gears for Expo 2020

Jun 27, 2014 0

Development is expected to pick up pace beginning next year as Dubai sets into motion its master-plan for World Expo 2020, key government agencies revealed at the ongoing Destination Dubai 2020 conference.

The Dubai Expo 2020 event will require GBP 6.45bn (Dh 39.23 billion) of investment to develop all of the required facilities and host the event – a figure that, according to Helal Saeed al Marri, Director-General at Dubai Tourism and Commerce Marketing (DTCM), would be needed for the development and operational costs until the end of the event.

Al Marri said a “significant amount” of the funding will come from the government, but there was also an opportunity for the private sector to invest during the build up to Expo 2020 and during the event itself.

“There was a significant opportunity for foreign direct investment (FDI) from the event,” he said in the opening keynote session at the conference which opened today at Dubai’s JW Marriott Marquis Hotel.

Al Marri said preparation for the event involved two main areas, development of the actual Expo site and the development of the city.

“The Expo site requires significant infrastructure and development, and the team is working on designs for this. This will be very project based,” he said. “The other side is city readiness. [The event] will require significant development around the city.”

Al Marri highlighted that doubling the number of hotel rooms was a key part of preparing the city to handle the 25 million visitors expected to attend the event, 70 per cent of whom will come from outside the UAE. This will include a number of “good quality” three- and four-star hotels.

The DTCM chief said the newly created Higher Committee would coordinate the activities of all the different government entities to ensure all projects are delivered on time.

Another exciting development set to take off next year is Burj 2020, which when completed is expected to be the world’s tallest commercial tower, revealed Ahmed Bin Sulayem, Executive Chairman, Dubai Multi Commodities Centre (DMCC).

“We have put out tender to work with consultants, the architect will be announced this year, and construction will start next year [2015]. It will be built by 2020,” said Ahmed bin Sulayem, Executive Chairman, DMCC.

The tower is planned as the world tallest commercial tower. It will be a steel structure meaning that it can be built quickly. “That tower is likely to be a steel structure and very efficient,” continued bin Sulayem. “We are leaving nothing to chance with that building.”

For leasing, DMCC expects that the tower will attract large international companies. “It is catering to multi-national corporations that need 10-20 floors,” he added.

The ongoing Destination Dubai 2020 event is the first conference to detail the very latest developments in Dubai’s preparations for Expo 2020.

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Dubai Expo 2020 committee makes first address to BIE Assembly

Jun 27, 2014 0

Dubai: The Expo 2020 Higher Preparatory Committee made its first formal address to the General Assembly of the Bureau of International Expositions (BIE), the governing body of the World Expo, according to a statement on Wednesday.

Dubai won the bid last November to host Expo 2020, a six-month event that is expected to attract 25 million visitors. It will be held for the first time in the Middle East, North Africa and South Asia (MENASA).

The Expo will run from October 20, 2020 to April 10, 2021 at Dubai Trade Centre-Jebel Ali. Plans have been drafted and all major construction is expected to be completed by October 2019.

The UAE delegation was led by Shaikh Ahmad Bin Saeed Al Maktoum, President of Department of Civil Aviation, Chairman and Chief Executive of Emirates airline and Group and Chairman of the Expo 2020 Preparatory Higher Committee.

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