The real estate business in Dubai South will benefit from the expansion of Al Maktoum International Airport. The real estate sector in Dubai will receive a significant boost from the expansion of Al Maktoum International Airport.
The new Al Maktoum Airport project will drive the development of the real estate sector in Dubai in the near future and increase demand for all types of real estate in the Dubai South region. In the long term, this will attract increased interest due to its proximity to the airport, and investors should make decisions quickly to avoid losing profits in the pristine area.
Real estate boom in Dubai South The new project, costing 128 billion dirhams (34.8 billion dollars), is a major economic step towards the future and reflects the sustainable development efforts that the emirate is pursuing in line with the wise leadership’s creative and forward-looking vision for the next fifty years. It will keep pace with all regional and global developments. That this huge project will have a positive impact on Dubai’s economy and stimulate the real estate and construction industry during its implementation. This influence will increase when the project is completed and the target capacity of 260 million passengers is reached. The airport will be a strong addition to the local economy and will support overall economic growth while achieving the airport’s objectives, in addition to its positive role in stimulating the sectors: Construction Tourism Travel Transportation Real Estate Logistics Services Retail Export Import Communications It will create opportunities for national businesses with thousands of jobs and attract foreign direct investment to participate in the project. It is emphasized that the real estate sector will be the most prominent beneficiaries of the airport project, as it will strengthen the transport infrastructure in this region and provide housing and accommodation services for expatriates and travelers, whose number will exceed a quarter of a million passengers annually. The real estate industry mentions that this will encourage real estate companies to increase new projects in the Dubai South region, and the opportunities will be attractive for foreign investment in real estate. Development of the real estate market in Dubai South
A project of this scale draws attention to the city of Dubai South, which is an emerging neighborhood of 145 square kilometers and a city within the Emirate of Dubai that is expected to be able to accommodate one million people when completed.” Dubai South was launched in 2006 and is the largest urban real estate development project in the emirate. The project is designed to become a global transportation hub and a major contributor to economic development in Dubai and the UAE in particular. It also includes a free trade zone that provides a conducive environment for business and residential purposes as it offers a diverse mix of houses and apartments to suit different lifestyles.
The new airport is estimated to represent five times the capacity of the current Dubai International Airport, and all Dubai International Airport operations will be transferred to it in the coming years. Based on the multiple benefits of the Al Maktoum Airport project, investors should make decisions as soon as possible to buy a property in this area, as any delay means the loss of profits in a pristine area that still has a lot to achieve in terms of price jumps in the real estate sector. It is therefore important to seize opportunities. “Real estate agents will be happy to offer their experience and services to help people identify the best projects.”
