Dubai invests $1 billion in transportation ahead of World Expo

Posted: 06-Jul-16 09:35

With the 2020 World Expo on the horizon the City of Dubai is forging ahead with major upgrades in transportation, hoping to kick-start an economy reeling from decreased crude oil prices. The road projects total more than $1 billion, part of a larger effort to enhance transportation needs while at the same time hoping to turn around some of the economic problems linked to a slide in crude oil prices.

Dubai invests $1 billion in transportation ahead of World Expo

With an eye on the larger picture of revamping the economy, hoping to boost everything from hotel business to real estate, the City of Dubai is pushing through with a major investment aimed at enhancing its public transportation needs. As published in a recent business article for Times of Oman credited to Bloomberg News, Dubai plans to begin seeking out bids totalling more than $1 billion, roughly four billion dirhams, in efforts to upgrade transportation around the city.

The article points out this announcement came as a contract worth DH10.6 billion was awarded for extending the metro-train system in preparation for Dubai hosting the upcoming 2020 World Expo. The metro network will be extended about 15 kilometres into the desert where the Expo is set to take place.

This is happening as a slowdown in crude oil prices continues to impact everything from hotels in the region to real estate. Over the past couple of years oil prices have dropped nearly in half. Even in tougher economic times, though, the Roads and Transport Authority is expecting metro transportation work to stay on schedule.

Director general and chairman of the city’s RTA Mattar Al Tayer explains:

“There’s a lot of cuts in projects in neighbouring countries. Investing in infrastructure is one of policies which the Dubai government has taken to steer the economy.”

Al Tayer did not give any specifics on road improvements for the future, however in order to fund the upgrades in metro transportation the transport authority is looking at potentially increasing the cost of toll roads in the near future. As well, it’s discussed that the busiest international air traffic airport in the world, Dubai International Airport, has already recently imposed a passenger service fee of Dh35.

While it’s written that the economy of Dubai is less dependent on oil prices than other nearby regions, it remains an important holiday destination with ties to the travel industry, international trading plus the city serves a role as a financial and transportation hub.

Beginning in October 2020 the World Expo will bring millions of international visitors from hundreds of countries around the world to Dubai. For six months visitors will see and experience the region, while collaborating together in the form of innovation and global partnership. As new transportation upgrades are met it will only make it easier and more convenient for those visitors to get around Dubai and experience all that the city has to offer.

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