Industry Experts Forecast Skyrocketing Demand for Over 100,000 Properties Near the Airport in the Next Decade, Driving Further Price Increases
Dubai Real Estate Boom: Property Prices Soar in Dubai South
The massive expansion project at Al Maktoum International Airport has set off a real estate boom in the surrounding areas, driving property prices upward. Industry projections indicate a potential price rise of up to 15 percent in Dubai South and neighboring regions this year alone.
Demand Surge & Lucrative Market
Industry insiders predict a massive demand for properties – both housing and commercial spaces – pegging the numbers at upwards of 100,000 properties in Dubai South and its vicinities over the next decade. This surge in demand is creating a lucrative market for investors. Farooq Syed, CEO of Dubai-based Springfield Properties, confirms the trend, stating, “We are seeing a tremendous surge in demand for residential properties in Dubai South. The airport’s expansion is attracting a significant influx of businesses and residents, driving up demand for housing and commercial spaces”.
Al Maktoum International Airport: More Than Aviation
Al Maktoum International Airport isn’t just an aviation project; it’s a major economic engine that will redefine Dubai’s real estate landscape. The $35 billion passenger terminal, spread across 70 square kilometers, is designed to handle 260 million passengers annually. It features 400 aircraft gates, five parallel runways, and at least 100,000 square meters of retail space, employing 10,000 people. This development is expected to be a cornerstone of Dubai’s economy, boosting demand for housing and commercial properties in the area.
Residential Projects on the Rise
Reputed developers are already springing up with a slew of residential projects in the area to cater to the anticipated influx of businesses, employees, and real estate investors. The shift of operations from Dubai International Airport to Al Maktoum International Airport has sparked renewed demand across developing areas, defying the pandemic-related trends. Dubai South’s real estate market is on the rise, and investors and homebuyers are keeping a close eye on this dynamic and promising landscape.
For more information and expert advice, contact Azco Real Estate.
