Dubai, United Arab Emirates, July 01, 2009 --(PR.com
)-- "Dubai 2020" has been launched. This initiative was announced by the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE. A committee to prepare the bids for the Summer Olympic Games, Paralympic Games and World Expo 2020 under the chairmanship of Crown Prince Sheikh Hamdan Al Maktoum, will examine the requirements for the applications. Although Dubai already has the necessary infrastructure for hosting events of global importance, this will be greatly expanded by 2020. These include increasing hotel capacity in different price ranges (around 7 million guests in 2008) and building the largest airport in the world (which will cater up to 240 million passengers annually). In September 2009, the Metro will commence operations.
DPRE Chronicle appreciates the fact that that these plans will provide a considerable boost to real estate, infrastructure and economic development in the near future. The prices of properties in top locations in Dubai, which had dropped in the preceding months, have already recovered significantly. The Emirate of Dubai has already built ultra-modern venues for many Olympic sports in Sports City. A number of large real estate projects for recreation, sports and housing are under construction.
As a prominent exhibition city and trade hub between East and West, Dubai also offers itself as an ideal venue for the World Expo.
DPRE Chronicle is published by DPRE Holdings, a German-Emirati-owned group of real estate brokerage firms, with a consultancy division.
The first issue of the DPRE Chronicle is available for download at www.dpreholdings.com/downloads.asp