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Expo 2020 Dubai: Rental rise in few areas

Business Dubai 31 Jul 21
 Expo 2020 Dubai: Rental rise in few areas
Residential property rents in some locations could go up by around 10-15 per cent.
Event Location
Dubai, Dubai
Start Time
31 July 2021, 12:00 AM
End Time
30 September 2021, 12:00 AM

Many Analysts and executives from the real estate industry suggest that Residential property rents in prime and waterfront locations in Dubai could go up by around 10-15 per cent during the upcoming Expo 2020.

Prime areas with limited supply such as Downtown, City Walk and Bluewaters Island will see an increase in rentals. This is because these places will also witness several entertainment activities during Expo that have never been seen before.

In addition, areas surrounding the Expo site such as Dubai South, Dubai Investment Park and Jumeirah Golf Estate etc. could also see a rise in rentals due to higher occupancy levels for the mega event.

Established villa communities that now have limited stock along with prime and waterfront apartment districts are expected to see higher rental resilience, Prathyusha Gurrapu, head of research and advisory at real estate consultancy said.

“We foresee an influx of jobs during this period in Dubai, especially in travel, tourism, events and exhibition, technology, marketing and logistics sectors. Furthermore, we expect a section of these international visitors to be attracted to the business, employment and social proposition that this emirate offers and look to reside/relocate to Dubai, thus translating into increased rental demand over the near-term,” she added.

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