Samana CEO on positive impact of Expo 2020 Dubai postponement
Imran Farooq says, rescheduling of Expo 2020 due to the COVID-19 has "lent more time to UAE property developers"
Expo 2020 Dubai’s Steering Committee in their virtual meeting yesterday agreed to explore with The Bureau International des Expositions (BIE), the governing body of World Expo, on possibilities of delaying “the world’s greatest event” by one-year, as many countries have been impacted by the coronavirus (COVID-19) outbreak.
Following the announcement, the chief executive officer of Samana Developers, Imran Farooq, said: “The rescheduling of Expo 2020 until October 2021 due to the COVID-19 has lent more time to UAE property developers to negotiate with the regulator for a host of relaxations that will benefit developers, investors and end-users alike”
Outlining the positive impact of the World Expo’s postponement, Farooq said that the delay would be a “good chance for developers to adjust to the changing trends of the market and re-aligning their marketing strategies for the local and international investors”.
In a statement, Farooq said: “Postponing Expo 2020 is a bold and wise decision taken by the International Expo Committee and Dubai Government.”
“As the world is trying to understand and tackle the financial and human impact of COVID-19, holding the Expo 2020 would not give both entities a fair platform to showcase itself because the world will be distracted and recovering. Many other international events have been postponed for similar reasons.”
Farooq concluded: “If it [Expo 2020 Dubai] is held in 2021, Dubai will then be given ample time to complete its preparations and the world will also be ready to witness the greatest show on earth.”