DUBAI // Hosting Expo 2020 could have long-term benefits for the area around the proposed site, analysts say.
Infrastructure developments, such as the extension of the Metro Red Line and the expansion of the new airport, Dubai World Central (DWC), are likely to increase the area's economic potential.
The Expo bid organisers also have plans to turn the pavilions at the 438-hectare site into a university, museum and conference centre.
The site could become a major centre linking the emirate to Abu Dhabi.
“It’s not like in some cities where they’ve used it to regenerate older parts of the city,” said Craig Plumb, head of research at Jones Lang LaSalle. “In Dubai’s case it’s a new area.
"What is important, and it's been a crucial part of Dubai's bid, is the legacy effect.
“The whole rationale for hosting the Expo is not just the benefits for the six months it’s on, but the longer term benefits that it will bring to the city.”
Mr Plumb said the plans to extend the Metro line and expand Dubai World Central would be sped up if the bid was successful.
“Both of those projects may go ahead anyway, but certainly the timing of them and the certainty of them will be ensured if they win the Expo,” he said.
“Clearly the intention over time is to move the capacity to the new airport, which will trigger new development like industrial and hotels.
“It’s never going to be the centre of Dubai but it is very well located to act as a hub between Dubai and Abu Dhabi. It’s going to be a key growth node between the two cities.”
A dossier on Dubai’s plans for the Expo shows the capital costs for the project are Dh26.1 billion.
The Roads and Transport Authority has said the Red Line would be extended anyway, but would need to be finished more quickly to meet demand for the Expo.
Events such as the Olympic Games are said to have long-term benefits for nations, but in some cases have cost billions with very little in return.
Mario Volpi, managing director of Prestige Real Estate, said there was a lower risk attached to Expos because pavilions were easier to adapt to other uses than sports stadiums.
“If they do it properly, then the legacy will be a very positive thing,” Mr Volpi said.
“In that case, they’re building for a reason, and not just a six-month exhibition.”
mcroucher@thenational.ae
@ For more on EXPO 2020, visit thenational.ae/topics
MATCH INFO
Euro 2020 qualifier
Ukraine 2 (Yaremchuk 06', Yarmolenko 27')
Portugal 1 (Ronaldo 72' pen)
Company%20Profile
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David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
FIRST TEST SCORES
England 458
South Africa 361 & 119 (36.4 overs)
England won by 211 runs and lead series 1-0
Player of the match: Moeen Ali (England)
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Date started: May 2018
Founder: Pir Arkam
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Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
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BEETLEJUICE BEETLEJUICE
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There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
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Company%20Profile
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Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
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