Construction projects for Dubai’s Expo 2020 initiative reach $42.5bn
The top 10 of the project amount to $32...
US$42.5bn of construct projects are currently underway in Dubai, UAE – designed for the nation’s Expo 2020.
The top 10 of the project amount to $32.7bn, accounting for almost 77% of the total, according to a BNC Network report.
The infrastructure and energy industries are constructing $17.4bn worth of projects, whilst housing construction comprises of $13.2bn of the total.
The BNC Construction Intelligence report claims that hospitality projects – such as hotels and theme parks – are costing $11bn.
The renovations being made on Phase One of the Al Maktoum International Airport are worth $8bn.
Villages at Dubai South homes have been valued at $6.8bn, whilst the Dubai Exhibition City is coting $6.6bn.
The extension of the Dubai Metro Red Line is expected to cost the city $2.9bn.
“Attractions such as Dubai Parks and Resorts [and] IMGWorlds 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,” commented Avin Gidwani, CEO of BNC Network.
“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.”