The massive expansion plan for Al Maktoum International Airport is creating unparalleled real estate investment opportunities in the Dubai South area. According to Dubai's leading real estate brokerage, W Capital, this project, being the largest airport project globally, is expected to significantly propel the overall development of Dubai's real estate market, especially in the southern part, where a significant increase in property demand is anticipated.
The airport project, costing 128 billion dirhams, is seen as a major economic leap towards Dubai's future. This project not only reflects the creative and forward-thinking vision of the UAE leadership but is also part of the country's sustainable development efforts. Walid Al Zarooni, CEO of W Capital, stated, "This project will keep Dubai in step with global and regional developments, reinforcing its status as a global hub city."
The airport expansion project has a significant positive impact on Dubai's economy, especially in the real estate and construction sectors. Upon completion, the project is expected to handle over 260 million passengers annually, further increasing the demand for residential, commercial spaces, and hospitality services.
This airport is not only a robust addition to the local economy but will also play a crucial role in various sectors such as construction, tourism, transport, logistics services, retail, and import-export. Moreover, the project will create thousands of jobs for state-owned enterprises and attract foreign direct investment.
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Al Zarooni pointed out that the real estate industry would be one of the biggest beneficiaries of the airport project. With enhanced regional transportation infrastructure, there is a surge in real estate market demand, particularly in providing accommodations for over 250 million foreigners and travelers annually. He added, "This will prompt real estate developers to launch more new projects in the Dubai South area, particularly appealing to foreign investors."
Dubai South offers attractive real estate opportunities due to its enticing prices and future growth potential. As the project progresses and regional demand increases, especially off-plan sales are expected to benefit from currently low prices, with an anticipated price rebound in the future.
Dubai South is one of the largest urban real estate development projects in Dubai, focusing on aviation and logistic services, expected to become a key node in the global transportation hub. Additionally, the area includes a free zone offering diverse residential and commercial spaces suitable for different lifestyles.
With the construction of this new airport, Dubai hopes to consolidate its global leadership in the aviation industry over the next forty years by launching new strategic projects. Al Zarooni revealed that over the next few years, all operations at Dubai International Airport would gradually shift to the new Al Maktoum International Airport, expected to have five times the capacity of the current Dubai International Airport.
Al Zarooni emphasized that with the continuous development of infrastructure, Dubai's investment environment at regional and global levels is enhanced. He stated that this project would serve as a foundation for growth in all sectors, overcoming barriers for investors and providing logistics and transport services, making it easier to conduct business in these fields.
The Dubai South project, launched in 2006, fully aligns with the urban and community elements of the "Dubai 2021 Plan" and embodies the vision of the Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum.
