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29 March 2024

Business hails UAE’s win, expect iconic projects

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By Staff

UAE’s major property developers on Wednesday hailed Dubai’s winning bid to host Word Expo 2020, saying the win will lead to exponential growth across a wide array of sectors including real estate.

Congratulating the UAE led by the President His Highness Sheikh Khalifa bin Zayed bin Sultan Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, captains of industry said the win would accelerate development of iconic projects and lead to new project launches.

“The Dubai Expo 2020 committee must be recognised and commended for their efforts in managing such a successful bid. This is a significant achievement for our country and Dubai in particular - it is a testament to the strength of Dubai's Expo 2020 campaign and to the vision of our founding fathers and modern day leaders,” said Khaled Al Malik, Group CEO of Dubai Properties Group.

"The Expo 2020 win for Dubai is a significant milestone, and this will definitely translate into exponential growth across a wide array of sectors, namely hospitality, tourism, trade, shipping and logistics as well as real estate,” said Khalid bin Kalban, CEO, Dubai Investments.

Nearly $3.45 trillion worth of projects are in the design, bid or construction stages until 2025 across the Gulf Cooperation Council countries, according to Zawya’s project tracking data compiled in November 2013.

Dubai has already announced major real estate projects such as Mohammed bin Rashid City, which includes the world's largest shopping mall, a family centre for leisure and entertainment set up in collaboration with Universal Studios, a public park larger than Hyde Park and over 100 hotel facilities;  Dh6 billion Bluewaters Island that will house Dubai Eye, the world’s largest Ferris wheel, and a Dh10 billion entertainment complex in Jebel Ali that will house five theme parks.

The total investment in infrastructure-related projects in the run-up to Expo 2020 is estimated at Dh25 billion. The Expo will also inject over Dh140 billion in Dubai’s gross domestic product, create nearly 277,000 new jobs and draw over 25 million visitors to the country.

This is what the industry captains said:

Khaled Al Malik, Group CEO of Dubai Properties Group

"On behalf of DPG, I would like to congratulate the UAE led by the President His Highness Sheikh Khalifa bin Zayed bin Sultan Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on this memorable occasion. The Dubai Expo 2020 committee must be recognised and commended for their efforts in managing such a successful bid. This is a significant achievement for our country and Dubai in particular- it is a testament to the strength of Dubai's Expo 2020 campaign and to the vision of our founding fathers and modern day leaders. I have no doubt that Dubai Expo 2020 will be a truly memorable exhibition that will once again reaffirm Dubai's position on the world stage."

Khalid bin Kalban, CEO, Dubai Investments

"The Expo 2020 win for Dubai is a significant milestone, and this will definitely translate into exponential growth across a wide array of sectors, namely hospitality, tourism, trade, shipping and logistics as well as real estate. Expo 2020 in Dubai will create more than 250,000 jobs and could attract over four million visitors every month during the event. Besides this, the event will have a capital expenditure to the tune of approximately Dh65 billion from both the government and the private sectors.

“This overall optimism will translate into investors eyeing long-term investments and growth in all sectors in Dubai. We expect acceleration in some iconic real estate projects as there will be a spurt in the overall demand from local and international investors. We foresee expectations increasing dramatically across the entire spectrum of real estate."

Hussain Sajwani, Chairman, Damac Properties

“This victory is a testament to the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the ingenuity of all Emirati people. We are proud to be Emirati today. The World Expo 2020 will showcase Dubai’s unparalleled growth and confirm its place as a world leader. The impact of Expo 2020 will have a hugely positive effect on generations of Emiratis to come and will be the focal point for all investment over the next seven years. Congratulations to everyone involved. The task is now to prepare a city which will deliver and an Expo unlike any seen before it and present Dubai to the world.”

Sobha Group Chairman PNC Menon

“On behalf of Sobha Group, I offer my sincere congratulations to His Highness Sheikh Mohammed bin Rashid Al Maktoum for successfully bringing Expo 2020 to Dubai. Of all the nominated cities, I firmly believed that Dubai is the best suited to deliver a memorable Expo due to its relentless pursuit of excellence and imaginative thinking. Expo 2020 will strengthen the UAE’s position as a global enabler of business, trade and commercial development. Once more, congratulations to the entire Expo 2020 team on their achievement.”

Faris Saeed, Chairman, Diamond Developers

“We were very confident that Dubai would win the bid for the Expo 2020 as His Highness Sheikh Mohammed bin Rashid Al Maktoum had prepared us for this long ago. Dubai's wondrous infrastructure, the amount of business opportunities, the continuous governmental support, and the readiness of our people ensure the results. In fact, Dubai will add to the Expo and will make it an even better known international event.”

Parvez Khan, Chairman, Pacific Ventures

“The UAE is a strong nation and is almost 20 years ahead compared to many other growing economies. His Highness Sheikh Mohammed bin Rashid Al Maktoum has announced that the city will now be gearing up towards being called a "smart city" and winning the expo will optimise and re-create an even better, bigger and technologically forward city that the world will see in the next seven years.”

Sobha Group vice chairman Ajay Rajendran

“The Dubai story is a powerful one that demonstrates His Highness Sheikh Mohammed bin Rashid Al Maktoum’s great vision, coupled with speedy and qualitative execution.  This is a great gift to the people of the UAE and a wonderful recognition of the country’s achievements.”

Shyam Bhatia, Chairman, Alam Steel
 
“I was pretty confident that Dubai would win the Expo. Having accomplished it, it is a matter of pride and definitely a great feeling for the residents of this country.

“In fact, the momentum preceding this day was thanks to the initiatives of the ruling family of Dubai. In fact, the their initiatives and the support staff that works towards making any event a success is one of the best I have seen in my life.

“We all know the positives that would emerge out of this expo. It would be a major boost to all of us living and working here. The economy will move forward and witness an overall growth.” 
 
Kamal Vachani, Group Director, Al Maya Group
 
“Dubai deserves to hold the Expo 2020.  Dubai has infrastructure to prove that this is the right choice.  Dubai is one of the most secure cities in the world.  Dubai is the best city in the world to host any kind of mega events, hats off to the rulers for developing and creating the image of UAE at its best. 

“Dubai has a strategic location.  It is one of the fastest growing in aviation.  Dubai is the most qualified city to host the Expo.  Dubai has something unique which we do not find in any country.   Since Dubai is a global transport hub,  visitors will be able to get to Expo 2020 easily and can also enjoy the cuisine, culture, heritage  sites , tourist spots along with world famous landmarks of the UAE.  This is an excellent place to host the Expo.”
 
Rizwan Sajan, Chairman, Danube Building Materials
 
“It is a proud day for the UAE and especially for Dubai. The economy will greatly benefit. Investor confidence will increase. There will be plenty of opportunities for growth and I hope there would be a steady growth forward.”

Tariq Yousif Al Janahi, Acting Deputy Executive Director of Dubai Statistics Centre (DSC)

“I would like to congratulate our leaders the President His Highness Shaikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. I would also like to congratulate both citizens and residents for this outcome. I would also like to thank all countries that voted for us.

“We conducted a survey within our community and the outcome showed that 99 per cent was supporting the bid. I believe no city can get so much support from the community, everybody in Dubai is behind this.  I like to say that Expo will not add to Dubai, but Dubai will add to Expo. It will be different than any other Expo, it will be a new page in the history of Expo.

“Dubai’s economic growth is stronger than the other participants. It has a level of security that cannot be compared to other countries. And Dubai will invest billions in infrastructure. Look at Dubai today, and try to imagine Dubai in seven years after all this investment.”

Issa Al Maidoor, Director-General of Dubai Health Authority

“The DHA congratulates our leaders the President His Highness Shaikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for their vision which has made this day possible. We would also like to congratulate various government stakeholders and members of the business community who have strongly supported this bid.

“Dubai has always walked the path of growth and development and winning the bid to host Expo 2020 will further accelerate our pace of development and this includes the healthcare sector. We have already chalked out the Dubai Health Strategy 2013-2025 to keep pace with the growing population.

“In the next five years, there will be more hospitals and health centres in the city.  Over the next few years, Dubai will witness rapid expansion of the private and public health sector. We look forward to hosting Expo 2020 in Dubai- a place where ideas and aspirations are realised.”

Mohammad Al Badri, CEO of Emirates Authority for Standardisation and Metrology (Esma)

“This is a great opportunity for Dubai and for the UAE. We have great ambitions, we always like to be number one. Winning the Expo bid will open a lot of doors for businesses, industries, infrastructure and attracting visitors to the country. I believe the effect of winning this bid will be long-term.

“With regards to our work, winning the Expo bid will give us a lot of opportunities. We will have the best standards, and we will be able to show people what systems we have implemented in the UAE.”

Dr. B. R. Shetty, CEO, NMC Healthcare 
 
“Congratulations to the nation and its Rulers on winning the opportunity to host Expo2020. The vision of the government and perseverance of the authorities have always been admirable. This achievement is the result of it.

“After a spell of recession, the economy is gaining momentum. The timing of Expo 2020 is perfect to propel it further. To be successful, Expo 2020 needs the right ambience to encourage innovation and only UAE offers the right environment to strengthen old relationships and establish new ones.

“Geographically too, UAE is the perfect place in the world to get together and open a new page in commerce. We congratulate the authorities once again and wish the event, all success.”

Y Sudhir Kumar Shetty, COO, Global Operations, UAE Exchange

“EXPO 2020 is the jewel in the crown of UAE's achievements.  The win endorses the country's excellence in all spheres and particularly reinforces its business friendly environment that has made the UAE a role model for countries across the Middle East & North Africa (Mena) region and the world.

“The expo will further highlight Dubai’s cosmopolitan nature and its stature as a venue to host such internationally acclaimed events. The wining of Expo 2020 will certainly give a strong push to business in the emirate and will help catalyse trade and services which is already on a buoyant curve. We believe this is an occasion to celebrate the UAE's enduring and abiding passion to excel in whatever it does and continue to be a leader in the comity of nations."

Sudhesh Giriyan, Vice President and Business Head, Xpress Money 

“The winning of Expo 2020 endorses Dubai's pre-eminent position as a global hub for international events and the emirate's quest for excellence. We are confident that the hosting of Expo 2020 will also have a trickle-down effect across the country's economy, triggering inward investment flows and rising employment opportunities.

“Dubai will see a further influx of expats and migrant workers, which means that there will be a lot more people wanting to send money to their families back home, thereby affecting the remittance sector positively.”

Abdalla Al Habbai, Group chairman of Meraas Holding and CEO of the Engineer's Office

“In being chosen as the venue for Expo 2020, Dubai has once again proved worthy of the world’s confidence in its ability to host well-executed global mega events. Through the past decades, we have continually demonstrated our capacity to not only meeting expectations, but exceeding them, thanks to the farsightedness of our visionary rulers. We have achieved excellence in all areas, from world-class infrastructure and efficient logistical services to modern legislative and regulatory frameworks that make Dubai the perfect venue or even a national change agent to host the world.

“Meraas follows a clear mission and vision to strengthen Dubai’s global position in the tourism sector. We already have several projects in the tourism, retail, leisure and entertainment sectors in our pipeline that will be completed in the run up to Expo 2020. Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, we are working towards complementing Dubai’s now famous proactive ambitions, which have shaped the emirate into a destination that provides quality lifestyle, a safe and nurturing environment, and unquestionable harmony among the nationals and expatriates alike.

“Dubai's unique geographical positioning makes us one of the most accessible locations from any part of the globe. In addition, our growth-oriented policies and practices have welcomed cultures from across the world, offering them the chance to learn and grow alongside us. Our thriving cosmopolitan culture stands on firm roots of Emirati tradition, giving residents and visitors the best of both worlds.

“Expo 2020 will translate into opportunities in all spheres, creating new career and business opportunities that directly impact the national and global economy. With the event anticipated to draw nearly 25 million visitors between April and October 2020, the exposition is certain to reinstate Dubai's position as the most coveted trade and tourism destination in the world.  We have a lot to offer, and Expo 2020 will allow the world to know Dubai for what it really is – a land of limitless opportunities.” 

Saeed Al Qatami, Chief Executive Officer, Deyaar Development

“We are truly delighted to be part of this great celebration that firmly ranks UAE and Dubai among the most advanced economies of the world. Winning the Expo 2020 bid is not just a testament to our visionary leadership, it is also a milestone that articulates Dubai’s dream and enduring commitment to economic progress. I congratulate the government, as well as residents and businesses that have joined hands to make this dream a reality. Deyaar pledges its continued support towards building Dubai’s quality infrastructure, residential communities and state-of-the art facilities to ensure its readiness to stage the global mega-event in 2020. “

Dr. Mohammed Al Zarooni, Vice President and CEO, Dubai Silicon Oasis Authority and Director General of Dubai Free Zone Authority

“Dubai’s win of the Expo 2020 bid is indeed a matter of great pride. On behalf of Dubai Silicon Oasis Authority, I congratulate the Higher Committee that worked tirelessly to bring home this honour, under the able stewardship of Sheikh Ahmed bin Saeed Al Maktoum, President, Department of Civil Aviation, Chairman and Chief Executive, Emirates Airline and Group, who is also our Chairman at Dubai Silicon Oasis Authority.

“Expo 2020, regardless of its scope and reach, will help showcase the best innovations and achievements of Dubai and the UAE on a world stage. Dubai’s free zones have a mandate similar to the Expo 2020 in promoting international trade, creating jobs and augmenting the economy with its varied financial and commercial contributions to the national GDP. As a free zone authority, we hope to attract foreign investors as well as offer endless opportunities for growth to both UAE nationals and expatriates in the run up to the mega-event.”

Peyman Kargar, Managing Director, Renault Middle East

“Renault congratulates the leadership and people of Dubai for their exemplary efforts that have won the Expo 2020 bid for the city. The Renault Twizy was a proud supporter of the bid, and we are very happy to share in this victory. With its multi-cultural flavour and openness to doing business, Dubai is the perfect venue to connect minds and create a world of opportunities for the future. 

“The automotive industry is well-poised to witness a phenomenal surge in the UAE in the run-up to the mega-event. Renault has notched up a 33 per cent rise in sales over the last nine months, which looks set to continue as more jobs are created around the big event. As the UAE becomes the new epicentre of growth, Renault looks forward to contributing and participating in our regional success.”

Samir Munshi, Managing Director at Orion Holding

“The real estate market is already seeing serious investor-movement with Dubai winning the bid to host Expo 2020. We see a rise in demand for home rentals as well as increased property sales not just in the vicinity of Expo 2020, but also in suburban Dubai.

“We also anticipate an increased demand for short-stay options such as serviced apartments, especially with the country aiming to attract a higher influx of business travellers.

“Overall, the Expo 2020 will herald a whole new, unprecedented demand in Dubai’s property market with accelerated growth and returns that place the city far ahead of international real estate movers.”

Baskin Robbins offers free ice cream

Meanwhile, Baskin Robbins has announced that it will be giving out free ice cream to every one between 1pm and 3 pm on Thursday.

"We would just like to remind you all that we will be giving out free ice cream at our UAE parlors tomorrow from 1pm to 3pm if Dubai wins the Expo 2020 bid tonight," tweeted the popular ice cream shop at about 5.30pm on Wednesday.

The promise was well received on social media forums. "So if Dubai wins we all get free Baskin Robins ice-cream yasss," tweeted somebody with the handle @TWY69.

"Holiday or not but if Dubai wins the bid BR is giving free ice-creams from 1pm-3pm tomorrowwwww," tweeted @IvanaJesmin.

‘Expo win is perfect year-ender for Dubai’

“It is a very happy day. We are all very excited. I just heard the news on radio,” said Kasim Ahmad from Dubai, an employee at Jebel Ali Free Zone.

“It is an ideal platform not just for Dubai but for the whole country’s economy. We are only worried about the effects it can have on real estate and the rental market,” said Ahmad.
 
“We have been waiting for this day for the last few months. There has been so much excitement in this city about the Expo 2020 compared to other competing countries. Dubai deserves this win and it is now time to celebrate. I am just hoping that everyone will be able to benefit out of this. Hope our salaries also increase,” said Rachel M, who works at Dubai Media City.
 
According to her, the news of the win is a perfect year ender as Dubai and the rest of the UAE witnessed the economy bouncing back after years of slowdown.
 
“Great news. I hope it has something in it for me – increasing salary, better job opportunities. I am assuming the rents are going to increase but that’s fine if we have a proportional increase in salaries,” said Charley Joy, another employee working with an multinational bank in Dubai Media City.