In just seven hours, Dubai real estate agents have sold three entire buildings in one of the city’s fastest growing developments.
Kamil Magomedov, leading representative of Provident Real Estate, successfully completed the sale of Expo City.
The landmark transaction underlines the growing importance of Expo City as Dubai’s next generation central commercial and residential hub.
Expo City in Dubai
By 2026, Expo city will be the new home of the World Trade Centre and is expected to host 300 events and attract 2.5 million visitors annually.
By 2032, as part of the city’s expansion, it is expected to host more than 600 events and attract more than 6 million visitors annually, strengthening the city’s position as the business and leisure gateway to the region.
Kamil Magomedov said: “We are witnessing a historic moment in Dubai’s real estate sector. With a supply shortage and demand rapidly increasing, Expo City presents one of the most lucrative investment opportunities in the market.
“The potential rental yield of 13–16 per cent is significantly above the city average, driven by the demand-supply gap.”
Currently, Expo City has limited accommodation options with only around 1,100 units across Al Waha Residences, Mangrove Residences and Rove Hotel. Despite future expansion with Sky Residences and SIDR Residences adding an estimated 1,000 units by 2028, projected demand through 2026 will meet the needs of an expected peak of 8,000 to 10,000 event attendees. A minimum of 4,000 units is required to meet this demand.
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