Expo 2020 unlikely to stop #Dubai's real estate downward trajectory: S&P - Reuters

Expo 2020 unlikely to stop Dubai's real estate downward trajectory: S&P - Reuters:

Expo 2020 is unlikely to improve the dire conditions of Dubai’s real estate market, S&P Global Ratings said, where residential property prices have fallen by over a quarter since 2014.

Dubai could attract 11 million foreign visitors to the Expo 2020 world fair, which starts in October next year, organizers have previously said.

But while this may give a boost to tourism and improve conditions for the retail sector, the emirate’s real estate market – crucial to Dubai’s economy – is unlikely to be impacted.

“We believe Expo 2020, just on the back of potential visitor flows to the emirate, will ease temporary pressures on hotels and retailers. However, it is unlikely to materially improve long-term conditions in the real estate sector,” S&P Global Ratings credit analyst Sapna Jagtiani said in a statement.