District 2020, the legacy development of Expo 2020 Dubai, will begin offering plots of land for sale to third-party developers – with investors offered opportunities in commercial and residential assets – from the beginning of next year, a senior official said.
"All of it. We are talking about both assets within commercial and residential and also land [buying] opportunities for investors who are interested," Marjan Faraidooni, the senior vice president of Legacy Impact and Development at Expo 2020 Dubai told The National at Cityscape Global on Monday.
The emirate unveiled the District 2020 to the public at this week's mega property event. It is designed to be a significant contributor to Dubai's long-term economic growth once Expo 2020 concludes.
“We have commenced speaking to interested parties. Right now it is more about creating awareness, seeking interest and taking those discussions forward," she said. “So within the next year first quarter we [will be] having the official discussion [on the sales]”, said Ms Faraidooni.
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The 65,000 square metres of residential space within the District 2020 will be built by Dubai Expo, and further capacity could be added by the third-party developers who can invest in the project through plots of land.
Dubai Expo will also create 135,000 square metres of office space that will be transitioned to the market.
Dubai Expo is already in talks with local and international firms who could potentially set up base at the District 2020. It is particularly targeting companies within the logistics and transport, travel and tourism, education and real estate sectors.
"We have a very particular strategy around bringing in companies within four key industries and paring them up with technology companies," Ms Faraidooni said. Siemens, the global technology major has commited to setting up a logistics hub at the site, which she said will bring 700 employees of the company to the city.
“We have already commenced talks with local and international companies about their presence in the District 2020. We are going to announce another key tenant of the city in the next few days,” Ms Faraidooni said, without revealing the name of the firm.
District 2020, which will be home to innovation, educational, cultural and entertainment facilities as well as a dedicated conference and exhibition centre, will become an integral part of the legacy of the Expo from the fourth quarter of 2021.
The overall repurposing of the Expo site and transitioning it into District 2020 will require between six to nine months, Ms Faraidooni said, without specifying the cost .
Dubai is expected to award Dh11 billion worth of contracts related to Expo 2020 this year. Contracts to build the three major pavilions representing the main themes of sustainability, opportunity and mobility will be awarded in the fourth quarter of this year, Ahmed Al Katib, the event's vice-president of real estate, told The National in July. A tender to build up to 30,000 car parking spaces around the outer elements of the site is also due to be floated by the end of the current quarter.
The biggest contract awarded so far this year is a Dh2.2bn deal with Al Futtaim Carillion for the site’s three thematic districts, but Mr Khatib said at the time that many smaller contracts had also been awarded on site for facilities such as police stations and substations.
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
Zayed Sustainability Prize
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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Schedule:
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
Mohammed bin Zayed Majlis
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Dr Graham's three goals
Short term
Establish logistics and systems needed to globally deploy vaccines
Intermediate term
Build biomedical workforces in low- and middle-income nations
Long term
A prototype pathogen approach for pandemic preparedness
UAE currency: the story behind the money in your pockets
Uefa Nations League
League A:
Germany, Portugal, Belgium, Spain, France, England, Switzerland, Italy, Poland, Iceland, Croatia, Netherlands
League B:
Austria, Wales, Russia, Slovakia, Sweden, Ukraine, Republic of Ireland, Bosnia-Herzegovina, Northern Ireland, Denmark, Czech Republic, Turkey
League C:
Hungary, Romania, Scotland, Slovenia, Greece, Serbia, Albania, Norway, Montenegro, Israel, Bulgaria, Finland, Cyprus, Estonia, Lithuania
League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar
MANDOOB
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UAE currency: the story behind the money in your pockets
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