By John Bailey http://gulfbusiness.com
27.11.2013 will be a date to remember in history, writes John Bailey, financial Planner at Acuma Independent Financial Advice.
It is maybe not so ironic that within a few days of the nation’s 42nd celebration of Independence, Dubai should confirm what a meteoric rise to prominence it has seen by being enviably selected as the host of Expo 2020.
After all the waiting, hype and media attention the efforts over the last two years have paid off for Dubai. Indeed, in a recent survey of nearly 65,000 people in the region, nearly 99 per cent were in favour of Dubai getting the expo. Here we look at what lies ahead.
A well-documented $8.4 billion infrastructure spend in the region will be required to bring the emirate up to the standards required to host the event. This includes a plethora of new structures and services ranging from a new World Trade Centre to enhanced roads, and infrastructure such as airport and Metro improvements.
Whilst this has been on the radar for some time, it will now be accelerated as projects begin all over the region and the shape of the landscape changes literally as quickly as the sand it is built on. Not only does this ensure the best possible story for sustained economic growth in the region, but also leaves the legacy of better parks, shopping, road and transport links for generations to come, not only those who pass through the Expo. More info