Dubai South real estate is expected to get a boost because of the big plans to expand Al Maktoum airport. Experts say this expansion will make more people want to live there and drive property prices up.
The expansion plans for Al Maktoum airport in Dubai South are worth a lot of money, about $34.8 billion. They want to make the airport five times bigger than Dubai International Airport and be able to handle 260 million passengers every year. Eventually, all flights will move from Dubai International to Al Maktoum International.
Because of this news, property experts say it’s a good time to invest in Dubai South properties. They explain why it’s smart to do so now.
Dubai South is already a good place to invest because it has many things that attract tenants. There are nice amenities like parks, sports courts, shops, schools, and more. The CEO of Dubai South Properties says over 25,000 people already live there and enjoy the lifestyle and facilities. The area is growing, with about 20% more people moving in each year. And there’s been an 11% increase in property buying compared to last year.
Another expert from Allsopp & Allsopp Group thinks more developers will start building projects in Dubai South. As more people want to live there, property prices will go up, giving investors better returns. They say it’s wise to invest now before prices go even higher.
Once the airport expansion starts, businesses like shops, malls, and offices are expected to move to Dubai South. This will make Dubai South a more important area in the city, making more people want to live there. The Chief Operating Officer of Chestertons MENA also agrees that both homes and offices in Dubai South will be in higher demand.
The CEO of Dubai South Properties thinks some projects like South Bay and The Pulse Beachfront will get more attention because they’re close to the airport. With more job opportunities coming because of the airport expansion, more people will want to live in Dubai South, increasing property demand.
When asked about the best types of properties to invest in, experts suggest apartments because they’re easier to rent out to tourists or new residents. They think property prices in Dubai South will keep going up because of all the new developments and improvements in the area.
So, in simple terms, Dubai South’s real estate is expected to become more valuable because of the airport expansion. More people will want to live there, so property prices will go up. Experts suggest investing now before prices get even higher.
Conclusion
In Dubai South, the expansion of Al Maktoum airport is set to boost real estate. This multi-billion-dollar plan aims to make the airport five times larger than Dubai International Airport, attracting more residents and driving property prices up. Currently, Dubai South offers attractive amenities like parks and schools, making it an appealing investment destination. Experts advise investing now, anticipating higher returns as demand increases with the airport expansion. Businesses are expected to move to the area, further fueling its growth. With the proximity to the airport, certain projects like South Bay and The Pulse Beachfront are expected to gain attention, contributing to increased property demand. In terms of property types, apartments are recommended due to their rental potential. Overall, investing in Dubai South real estate presents a promising opportunity for investors.
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