New Dubai Airport Terminal Catalyst for Real Estate Growth
The new passenger terminal at Al Maktoum International Airport in Dubai, scheduled to open soon, will help prop up the city’s property market. This development which forms part of a total $34.8 billion investment is expected to increase connectivity and property values in Dubai South as well as other areas such as Al Furjan and Dubai Investment Park.
The new terminal will enhance the need for residential and commercial properties while at the same time boost the real estate sector. It was established that due to location and the expected flow of businesses related to the airport, the average property values are forecasted to increase in the medium to long term period. This rising in demand will open up opportunities for investors and homeowners in residential complexes as well as other communities such as Al Furjan which will give high returns and a lively community.
This growth is already being tapped by developers who are already into the business. Dubai South Properties and others have also launched several projects near the new airport with a total contract value more than AED 4 billion. There is a fresh interest now in these sectors which are projected to see a lot of value appreciation and therefore a good time for investors.
Dubai has been able to provide a strong and stable real estate market with remarkable activities experienced in the recent past. The construction of the new airport terminal is also expected to strengthen this trend: more investors will be attracted by the city and its economy will continue to grow.