Dubai Expo 2020: The city celebrates

Dubai Expo 2020: The city celebrates

The UAE stands proud

Image: Getty Images

The official launch of Dubai Expo 2020 is underway, with celebrations focussed around construction

Every five years and for a period of six months, World Expos attract millions of visitors. The World Expo has never been held in the Middle East, Africa or South East Asia in the history of the event...

After Buro 24/7 broke the exciting news last night that Dubai is to host Expo 2020, the city has spent the day revelling in celebration of the successful bid, meaning a positive sentiment has returned to the country’s construction market and to Dubai in particular.

According to regional project tracker MEED Projects, the total value of contracts awarded in the UAE during 2013 will close out at approximately $30 billion.

“We expect this number to increase significantly over the next few years as the market takes full advantage of Dubai’s successful bid,” said Julian Herbert, the Director of MEED Projects. Based on projects already announced, MEED Projects currently predicts that the total value of contracts to be awarded in 2014 will probably eclipse the 2013 number to reach $35 billion.

Dubai wins the Expo 2020 bid

Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum

As Dubai residents breathed a collective sigh of relief at what turned out to be an outright win in Paris, authorities released a celebratory video officially launching the event, featuring Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum atop the world's tallest building waving the UAE flag.

A huge fireworks display also erupted on the Burj Khalifa at the announcement of the news, before talk of more exciting structures got underway...

fireworks 2020

The Burj Khalifa celebrates Dubai Expo 2020

Dubai Multi Commodities Centre (DMCC) and the Government of Dubai Authority have chosen the name 'Burj 2020' for the world's tallest commercial tower, which is in the pipeline to be built in honour of Dubai's Expo 2020 win. The masterplan for the 'Burj 2020' is currently in its final stages with architects being appointed next year due to release the groundbreaking plans in 2015. It will join other major investments to the Metro, the new airport and construction of the Expo centre.

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