Expo 2020 Dubai to start legacy land sales next year

Expo 2020 Dubai to start legacy land sales next year

The legacy department of Expo 2020 Dubai has commenced discussions with third party developers interested in snapping up land at the site after the event.

A spokesman for Expo 2020 Dubai confirmed to Arabian Business that the legacy body District 2020 will begin offering plots of land for sale to third parties from the beginning of next year.

Expo organisers this week unveiled an ambitious masterplan for how the Dubai South site would be repurposed after the mega-event concludes in 2021.

The two million square metre ‘city’ will be called District 2020, and comprise 200,000 square metres of residential and commercial space developed by the Expo team.

Marjan Faraidooni, vice-president of legacy impact and development at Expo 2020 Dubai, told Arabian Business in an interview that parcels of additional land from the 200-acre Expo site would be sold off to third parties for further development – but declined to reveal exactly how much would be made available.

A spokesman confirmed on Tuesday that the plots would be offered up for sale from as early as the first quarter of next year, with opportunities for both commercial and residential development.

District 2020 delivered

Meanwhile, Faraidooni told Arabian Business’ sister titleConstruction Week at Cityscape this week that District 2020 could be delivered within six months of the mega-event concluding, 

She reportedly said: “It’s mostly a transition period of repurposing: to remove and dismantle whatever exhibitors were there, and to allow for the future tenants to come in and fit out the core-and-shell space.

“We’re looking for a period of between six to nine months to do that transitioning.”

Faraidooni told Arabian Business that District 2020 would publish guidelines for third party developers to ensure design continuity.

“With 200,000 sq m of built-up space [plus the land sales], that’s a lot — that’s no joke,” she said. “So we’d like to give people who want to be part of this project some guidelines that fit in with what we are trying to achieve.

“For example, we might give them options for building facades or materials that best meet the look and feel of the city.”

Click here to read the full interview with Marjan Faraidooni.

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Arabian Business – real-estate

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