How Dubai Is Changing Because of Expo 2020
One UAE-based manufacturer already experienced substantial growth before Expo 2020. According to a report which was commission by the Dubai government that the expo will bring in the amount of Dh122.6 billion to the economy of the country by 2031. A report also prepared by Consultancy EY stated that at the peak of the expo it will be able to contribute a business equivalent of 1.5 percent in the UAE GDP. The expo is also expected to add 100,000 jobs to Dubai’s economy. The impact of the expo on Dubai property investment started to show a year before the event.
Wolfgang Douglas, the Operations Director, and CEO of the company Timberwolf, said that his business has been seeing growth in his company before the actual start of the event. Timberwolf has been running down for four generations now as a timber provider. The products and services of the company include specialist timber, building applications, and theme feature infrastructure which provides supporting elements to construction, and of course steel design.
Initially, the company planned to show projects that are worth Dh750 million. Timberwolf has been experiencing volumes that are over by multiple times to the previous years. Douglas disclosed that the company has seen more than 1,000 percent growth.
There are several elements that a business may need to look into to make the most of the exposure it can gain from the expo. A business has to have a unique market position vis-à-vis local and overseas competitors. Try to leverage the company’s high-profile projects and specialized large-scale developments.
Make sure that your company will be able to offer customized and locally manufactured products that have been created making use of the latest developments in technology. Timberwolf offers eco-green and fast-build technology. They also sell cross-laminated timber structural technology. It is also necessary to work with international partners that will aid in ensuring that the company will continue to deliver the highest quality of products in the market.
It is also necessary for firms to focus not only on the expo but even on what is taking place at the back of the fair. Participating in the fair does not mean merely working directly with the expo. The work also includes the whole plethora of pavilions, legacy work, landscape, and hardscape jobs.
It is also important for the company to secure the best talents available. It entails a rigorous assessment of skills and experience. The company has to hire talents from all over the globe and also from the local talent pool.
Douglas stated that the expo will be able to demonstrate to the entire world that the city can develop first-rate technology and the lowest taxable rates. The Emirates he added has the first-rate infrastructure that can produce first-world-quality products at a fraction of the entire rate. Dubai has its own set of positives and negatives. He also added that if the business is not green then it is not aligned with the expo’s ethos.
You can get started on your very first Dubai property investment. When it comes to the right time and strategies to use, it’s better to check with the professionals about it. Find out more about this at ReDubai!