BILLIONS of dollars will be spent on infrastructure following Dubai winning the bid to host the World Expo 2020.

The World Expo – which showcases technology, architecture and culture, while drawing visitors to host cities and generating business – is held every five years for a period of six months.

Alan Robertson, CEO of Jones Lang LaSalle in the Middle East and North Africa, said: “While the Dubai real estate market is poised for growth, Dubai’s win will act as the single most important influence on the real estate sector across the UAE in 2014.”

Jones Lang LaSalle contributed as part of the Dubai bid team for World Expo 2020, advising on strategic real estate components of the bid and its subsequent legacy.

Meanwhile, leading real estate consultant Cluttons said Dubai’s victory signifies the “start of a new era in Dubai’s evolution and will be a catalyst for real estate development”.

Steve Morgan, head of Cluttons Middle East, said Dubai’s win signifies that the emirate has now cemented its pathway to recovery following the global financial crisis that crippled global real estate markets.

“The fast-tracking of projects designed to complement the city’s 2020 vision of hosting 20 million tourists is inevitable and this will involve the resumption of work on some of Dubai’s stalled schemes. In the short term, we expect to see the majority of investment going towards the delivery of the Expo site in preparation for the event with major investment accelerated towards transport infrastructure, retail, leisure and hospitality.”