Expo 2020 Dubai construction projects top $42.5bn
The top 10 active projects linked to Expo 2020 Dubai were worth $32.7bn at the end of last month, a new report has revealed
Projects worth $42.5bn (AED156bn) are being constructed across various UAE sectors for Expo 2020 Dubai, it has been revealed.
The top 10 active projects linked to Expo 2020 Dubai were worth $32.7bn (AED120bn) at the end of last month, according to BNC Network.
Infrastructure and energy projects account for $17.4bn (AED64bn) of the $42.5bn, while housing projects are worth $13.2bn (AED48.5bn), a report by BNC revealed.
The BNC Construction Intelligence Report also stated that hospitality developments, such as hotels, and destination and theme parks, worth $11bn (AED43.4bn) are under way.
Other developments under construction around the Expo 2020 Dubai site include Al Maktoum International Airport's (DWC) Phase 1, worth $8bn (AED29.4bn), and the Villages at Dubai South homes, worth $6.8bn (AED25bn).
Dubai Exhibition City, worth $6.6bn (AED24.2bn), and the Dubai Metro Red Line extension to DWC, estimated to be worth $2.9bn (AED11bn), are among the other projects being developed in the city.
Commenting on the impact of Expo 2020 Dubai on the country's construction sector, Avin Gidwani, chief executive officer of BNC Network, said Dubai was reaping the benefits of hosting a World Expo event.
"Attractions such as Dubai Parks and Resorts [and] IMG Worlds of Adventure, among others have already been added to the growing number of attractions to Dubai; [these will] retain tourists for longer period and help the tourism industry to thrive.
"As is evident from the hectic construction activities, Expo 2020 projects have kept Dubai’s construction sector busy which have a knock-on positive impact on the overall economy.
"This in turn will help the economy and the consumption stable. The number of construction cranes and the workers has gone up significantly within Dubai South – where the Expo 2020 village will be located.
“Once completed, Dubai South and Dubai as a whole, will become another integrated, sustainable city that will have [DWC] as its centrepiece," Gidwani added.