Expo 2020 Dubai, one of the biggest events on earth has come to an end on 31st March 2022. The show provided ample opportunities for foreign investors and entrepreneurs seeking to explore new avenues of business setup in Dubai. However, the visionary leaders of Dubai have made it clear that they won’t let Expo 2020 remain as a one-off business gala.
Dubai authorities have already started work on District 2020, which is being created out of the Expo 2020 venue. District 2020 has been conceived as a future city and an innovation ecosystem. Entrepreneurs who wish to set up a business in Dubai or scale their businesses into the emirate can find their space in District 2020. In short, District 2020 allows investors to capitalise on the momentum generated by Expo 2020 by allowing them to expand into Dubai. Here is a list of key takeaways on how you can benefit from District 2020:
A Launchpad for Start-ups and Small Businesses
District 2020 has been designed as a Launchpad for startups and SMEs, who are widely regarded as the key contributors to innovation, job creation and industry growth. District 2020 has launched a global entrepreneurship programme called Scale2Dubai, which will allow startups and SMEs to have a soft landing in Dubai and gain market access. The equity-free programme aims to support 80 to 100 such businesses every year.
The benefits of setting up a business in Dubai District 2020 include two years of free working space, two-year visas, easy establishment, subsidised urban living, and access to special rates for service providers. Entrepreneurs also get access to accelerator and incubator programmes, funding opportunities, deal flow, funding, talent, banking services, IT infrastructure etc. Businesses that get selected under the program can also have the opportunity to collaborate with diverse stakeholders including academia, government entities, and Fortune 500 companies.
The Masterplan of District 2020
District 2020 is a Dubai government project, built-in compliance with world-class specifications to host the Expo 2020 event. Once the curtains were drawn on the Expo 2020 event, the government decided to repurpose 80% of the constructed assets for future use. A master plan has been created to foster a dynamic urban environment that encourages connection and this is perfectly balanced with community, comfort and convenience. The master plan of District 2020 allows residents, workers and visitors to flawlessly move between home, office, and leisure. Business setup consultants in Dubai can guide entrepreneurs on how to set up their businesses within the new urban district.
The Strategic Location of District 2020
District 2020’s iconic structures and infrastructure are located right at the heart of the new Dubai. The place is adjacent to the world’s largest airport in the making – Al Maktoum International Airport. The new business district offers an ideal environment for business setup in Dubai as it is strategically located at the crossroads of big airports and seaports, as well as to four major highways, making it highly accessible and well-connected.
Reaching the workplace will be easier for clients and employees as District 2020 has a dedicated Dubai Metro stop, Route 2020 on the Dubai Metro Red Line. Authorities also plan to extend the line to make it only one stop away from Al Maktoum International Airport. The District 2020 location can be easily accessed through three major arterial roads with purpose-built flyovers.
The World-Class Infrastructure of District 2020
Over 260,000 sqm of GFA of LEED Gold and Platinum structures from the Expo 2020 site will be retained at District 2020. These structures will be converted into residential, commercial, and cultural neighbourhoods within the District 2020 area in phases. The built assets repurposed from the Expo 2020 infrastructure include the Rove Expo 2020 hotel and other major attractions. The venue also includes 108 serviced land plots that can be used for residential, hospitality, commercial, and mixed-use purposes.
It will be open for sale in the near future. District 2020 occupants will benefit from three 132 KV substations and solar panels that are integrated across the site. A smart mobility facility will be integrated to support the occupants’ convenience and greener living such as Smart parking & mass transit. Occupants will also benefit from a dedicated autonomous vehicle public transit route, which will link all major landmarks and hubs of the project by way of a 4km loop.
The Timespan for Moving First Set of Occupants
The District 2020 will have a total transition period of six to nine months from the closing of Expo 2020 Dubai. The new site will be operational and ready to welcome tenants, residents, workers and visitors from October 2022. As per news reports, District 2020 is ready to welcome 85 start-ups and small businesses when it opens doors for its first set of occupants.
Consult with the Best Business Setup Consultants in Dubai
District 2020 is a significant move by the government as it fosters the opportunities for business setup in Dubai for startups and SMEs. Dubai’s plan for retaining the legacy of Expo 2020 is relevant as the sites of previous World Expos have turned out to be ‘white elephants’. However, entrepreneurs need expert advice before making their move into District 2020. Business setup consultants in Dubai such as Jitendra Business Consultants (JBC) can provide guidance for investors and entrepreneurs.
JBC is one of the best business setup consultants in Dubai who can help entrepreneurs, investors and big MNCs meet their company formation requirements. We have an impeccable history of helping thousands of companies incorporated in Dubai. Our consultants can skillfully execute critical actions such as choosing a proper company structure, and business activities, applying for a trade license, drafting legal documents, applying for visas, choosing the office spaces, opening a bank account in Dubai etc.