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In a night sure to go down in UAE history, Dubai was crowned host of Expo 2020, beating competition from Ekaterinburg (Russia), Izmir (Turkey) and Sao Paulo (Brazil) with 116 of the 168 votes. Work can now begin on the many construction projects planned for the event, including the 434-hectare site itself and supporting infrastructure. A wider boost to confidence in the construction and real estate industries is also anticipated, with Bank of America Merrill Lynch forecasting positive momentum over the remainder of the year from the victory, and a positive lift to GDP in the years leading up to the event. Dr Amina Al Rustamni, CEO of TECOM Investments, believes the benefits of the Expo will come in three distinct phases. "There will be an immediate shot in the arm in terms of economic confidence. This will be followed by the planned infrastructure and project investments taking shape over the next six years during the preparation stage, which will offer growth opportunities across a range of industries -- from manufacturing and media to tourism and education. Once the event is complete there will also be a strong legacy that the event leaves behind, which businesses will be able to take advantage of." source: http://gulfbusiness.com/ Full article - http://gulfbusiness.com/2013/12/dubai-has-won-the-expo-2020-bid-what-now/#.UpsPldK8CgE