Expo 2020 Dubai: building a legacy
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Any well-orchestrated World Expo is basically meant to be a huge marketing event to create awareness, lure investments and broadly spur the economy. But the big question is, to what extent will the high expectations be met? Looking back, the last World Expos in Milan in 2015 and Shanghai in 2010 all had a noticeably positive effect on the real estate market. In Milan, the city’s land department reported that residential sales on a principally mature market still grew by 6.8 per cent ahead of the Expo, powered by new developments in the city’s inner districts. According to Italian property market survey firm Scenari Immobiliari, the “Expo effect” is seen to remain lingering at least five years after the exhibition, with prices expected to rise up to 14 per cent until 2020.
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