EXCLUSIVE Real Estate Expo City races to cope with Dubai’s population surge By Megha Merani December 26, 2024, 7:32 AM Expo City Expo City's new year's eve event will include projections on Al Wasl dome, the world's largest interactive and immersive 'projection surface' Residential and commercial projects Delivery timelines tight Site cornerstone of development Expo City Dubai, the legacy site of the World Expo 2020, is gearing up for a big construction drive in 2025, with plans to issue tenders for residential, commercial and infrastructure projects to meet rapid population growth, a senior official has said. Ahmed Al Khatib, chief development and delivery officer at Expo City Dubai, told AGBI that the site in the south of Dubai is preparing to issue major tenders next year as part of its phased development plan. He said the surge in Dubai’s population by between 400,000 and 500,000 residents from 2020 to 2024 had created urgency in demand for housing, infrastructure and facilities. “These people need places to live, they need schools, they need services, roads, bridges and parks,” he said. The delivery timelines were tight, Al Khatib said, and “it’s like you’re already late” before the project started. The global ratings agency S&P said in October that Dubai’s population was projected to hit 4 million by 2026, thanks to a strong inflow of expatriate professionals flocking to the emirate for better job opportunities and investors who wanted to cash in on high returns from the growing economy. Major trade shows to relocate to Expo City Dubai New Expo City plan to drive Dubai’s economic growth Construction begins at Expo City Dubai site A new master plan for the Expo site, approved in October, positions it as a cornerstone of Dubai’s future development under the 2040 urban plan. The site, near Al Maktoum International Airport and Jebel Ali Port and anchored by the Dubai Exhibition Centre, is expected to become an important hub for businesses targeting Africa and the wider Middle East. Significant tenders are expected in 2025 and new residential developments are likely to dominate next year’s announcements, alongside joint ventures and commercial projects, Al Khatib said. There is also expected to be substantial activity on an AED1.75 billion mixed-use development in partnership with Aldar, featuring residential, office and retail projects, and a AED10 billion expansion of the Expo City exhibition centre. The expansion of the exhibition centre will double Dubai’s capacity to host major events, increasing the potential annual tally to more than 600 by 2033. Dubai is also to relocate its major trade shows from the World Trade Centre Expo City next year. Al Khatib said the projects present significant opportunities for contractors and suppliers, along with developments already in the pipeline, such as Expo Valley, Mangrove Residences and Sky Residences. Handovers are scheduled between 2026 and 2027. DP World has also announced plans to relocate its global head office to Expo City Dubai. Strong platform The establishment of the China-UAE Economic and Trade Exchange Centre and the Indian Institute of Foreign Trade’s first overseas campus also show the site’s appeal to global investors, Al Khatib said. “This will provide a strong platform for increased cooperation between countries,” he said. “There are opportunities to establish world-class institutions.” Expo City Dubai is particularly keen to work with businesses and investors who shared its vision in areas such as renewable energy, smart infrastructure, health and wellness and education and hospitality, Al Khatib said. He said Expo City tenders were attracting “strong interest from both local and international contractors”, including those who previously worked on Expo 2020, despite a construction boom in neighbouring cities such Ras Al Khaimah and Riyadh producing high demand in the industry. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later