Dubai’s World Expo 2020 plans to award 47 construction contracts valued at 11 billion dirhams ($3 billion) this year, Bloomberg reports.
The contracts, open to both local and foreign companies, are part of the third and final infrastructure package for the event, Dubai Expo 2020 said in a statement on Monday. Another 98 non-construction orders totaling 360 million dirhams ($98.2m) will be awarded.
Dubai’s economy is expected to expand 3.1 % this year, following growth of 2.7% in real terms in 2016, Bloomberg cites Sheikh Ahmed Bin Saeed Al Maktoum, chairman of the Economic Development Committee. The first in the Middle East global trade fair is expected to accelerate growth in the city to more than 5 percent by 2020, according to estimates by the International Monetary Fund.
Dubai’s government is building an airport that will become the world’s largest close to the expo site. Organizers are to complete the majority of construction a year ahead of the event’s opening in October 2020.