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May 21, 2024

NEW DUBAI AIRPORT PLAN SET TO FUEL PROPERTY DEMAND

Expectations for a 15% Increase in Property Prices in Dubai South and Adjacent Areas Due to Dubai International Airport Relocation. According to real estate industry leaders, property prices are forecasted to escalate rapidly upon the completion of the airport relocation project. Demand is projected to surpass 100,000 properties in Dubai South and its neighbouring regions over the next ten years.

Over the next decade, operations at Dubai International (DXB) will gradually shift to the new Dh128-billion Al Maktoum International. With a passenger capacity of 260 million annually, the airport will accommodate significant air traffic.

A new “city” will be constructed around the airport in Dubai South, leading to increased demand for housing to accommodate a population of one million. Dubai South is already highly desired among buyers seeking villas and townhouses, ranking second in demand according to Betterhomes in the first quarter of 2024.

Expo 2020 Dubai has attracted numerous multinational companies like Amazon, Noon, FirstCry, Landmark Group, Siemens, and more, all establishing operations in Dubai South.

Close Distance to Abu Dhabi

Furthermore, the close proximity of Dubai South to Abu Dhabi provides substantial benefits for residents traveling between the two cities, allowing individuals working in Dubai to live in Abu Dhabi and vice versa.

In conclusion, the expedited operations and subsequent transition to the new airport in Dubai South will generate heightened interest among property seekers and stimulate searches in surrounding areas. Historically, major projects of this scale have sparked significant community engagement, and the continuous development of Dubai South is shaping a new city center complete with innovative planning and infrastructure.

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