Dubai is spending tens of billions of dollars on infrastructure, transportation and hospitality projects for the Expo 2020, which it will host, according to a BBC report Sunday.
The report pointed out that the value of projects reached 42.5 billion dollars, of which 17.4 billion dollars were invested in infrastructure and transport, while 13.2 billion were allocated for housing and 11 billion dollars for hotels and amusement parks.
The projects include an $ 8 billion expansion of Al Maktoum International Airport on the outskirts of the southern city. This airport is expected to be reinforced by Dubai International Airport.
Dubai International Airport was the busiest airport for the fourth consecutive year with more than 88 million passengers in 2017.
Upon completion, the capacity of Al Maktoum International Airport will be 160 million passengers annually.
The report also revealed that one of the most important ongoing projects is the expansion of the Dubai Metro worth 2.9 billion dollars.
The new line will also reach two new projects, the villages of Dubai South City and Dubai Exhibition City, both of which are under construction.
The exhibition is expected to attract about 300,000 visitors a day with its opening in October 2020, half of which will be from abroad, according to Dubai Chamber of Commerce and Industry.
The exhibition, the first of its kind in the Middle East, is expected to boost the emirate's property market, create 300,000 new jobs and revitalize the economy.
Dubai's economy is heavily dependent on real estate, tourism and trade.
The report pointed out that the value of projects reached 42.5 billion dollars, of which 17.4 billion dollars were invested in infrastructure and transport, while 13.2 billion were allocated for housing and 11 billion dollars for hotels and amusement parks.
The projects include an $ 8 billion expansion of Al Maktoum International Airport on the outskirts of the southern city. This airport is expected to be reinforced by Dubai International Airport.
Dubai International Airport was the busiest airport for the fourth consecutive year with more than 88 million passengers in 2017.
Upon completion, the capacity of Al Maktoum International Airport will be 160 million passengers annually.
The report also revealed that one of the most important ongoing projects is the expansion of the Dubai Metro worth 2.9 billion dollars.
The new line will also reach two new projects, the villages of Dubai South City and Dubai Exhibition City, both of which are under construction.
The exhibition is expected to attract about 300,000 visitors a day with its opening in October 2020, half of which will be from abroad, according to Dubai Chamber of Commerce and Industry.
The exhibition, the first of its kind in the Middle East, is expected to boost the emirate's property market, create 300,000 new jobs and revitalize the economy.
Dubai's economy is heavily dependent on real estate, tourism and trade.
source
No comments