City is chosen as location for the major international exhibition, which is set to have a big impact on the hotel, property and business sectors
Dubai, UAE: Dubai is celebrating winning its World Expo 2020 bid, after being selected by officials from the member nations of the Bureau International des Expositions. The emirate beat strong competition from three other candidate cities, São Paulo (Brazil), Izmir (Turkey) and Ekaterinburg (Russia) to become the first place in the Middle East to host the prestigious international event. The World Expo, which is held every five years, is set to have a huge impact on the city's property values and hotel industry, not to mention creating a wealth of jobs and business opportunities.
"We are absolutely thrilled that Dubai has been chosen as the winning destination. Right from the start, it was one of the hottest candidates, and we are delighted about what this means for Dubai and indeed for our own hotel developments and investors," commented Gary Shepherd, co-founder and joint chairman of The First Group. "The next few years will prove truly exciting as we watch Dubai gear up to host the World Expo. As well accelerating investment in infrastructure in the city, we have no doubt that the emirate's hotel industry will be one of the biggest sectors to profit from an event of such high caliber." Click here to read more