The Blue Line of Dubai Metro is designed to be the catalyst for real estate growth in the city of Dubai. With the transport-real estate process being demonstrated, the city has similar surrounding of the new development.
In 2009, the Dubai Metro, which is the main component of the city’s transportation network, was inaugurated. Since then, it has expanded to have 53 stations along the Branch Line, Green Line, and Red Line. The system is a key contributor to traffic relief and is a convenient means of transportation for both residents and visitors of Dubai.
As part of the latest development, the Dubai Metro will be expanded with the construction of the new Dubai Metro Blue Line. This project brings together 14 new stations to the current network, thus improving transport networks within the city. The project constitutes $4.9 billion worth investment to upgrade the public transport in Dubai. The new 30 km extension of the line in Dubai will connect major areas of Mirdif, Al Warqa, International City 1 and 2, Dubai Silicon Oasis, Academic City, Ras Al Khor Industrial Area, Dubai Creek Harbour, and Dubai Festival City.
According to the Dubai Road and Transport Authority, the Dubai Metro Blue Line project is set to complete by 2029; this would coincide with the 20th anniversary of the Dubai Metro. This checkpoint signifies the city council’s dedication to sustainable urban planning and efficient transport facilities.
Transportation’s Influence On Real Estate
The Blue Line of Dubai Metro is designed to be the catalyst for real estate growth in the city of Dubai. With the transport-real estate process being demonstrated, the city has similar surrounding of the new development.
The forthcoming of Blue Line Metro will eventually bring the demand in surrounding areas i.e. Jebel Ali, Dubai Marina, and Jumeirah Beach Residence. Investing in the properties located along the Dubai Metro Blue Line will be a good move for the buyers who want to make the most out of the present demand of real estate in the city.
Demand For Off-Plan Properties
The off-plan property in Dubai is expected to be highly in demand because of the upcoming Blue Line of Dubai Metro. Off-plan properties, which are houses that are still under construction, often tend to be lower than completed houses in price. The property developers are however focusing on building houses close to metro stations to meet the growing need for convenient, accessible, and affordable the housing options.
Rise In Property Prices
Dubai property market specialists forecast the above 10% to 25% hikes in property prices and rentals by virtue of new metro route integration. The blue line had already begun to attract developers, who currently prefer off-plan properties to serve the increasing demand from people who want to live in this new area.
Impact On Real Estate Developers
The ongoing projects at Dubai Creek Harbour, Dubai Silicon Oasis, and International City, will be a major boost for real estate developers out there. Over the coming days, Dubai will witness a lot of real estate development, with the Blue Line being the most preferred by developers.
Conclusion
Well, the upcoming Blue Line of Dubai Metro has set the foundation for growth in real estate and connectivity in Dubai in particular. Its stellar accessibility as a node for the nine key neighbourhoods has position it as something real estate developers can’t turn down. It also creates a tremendous impact on these areas in terms of demographics, infrastructure, and economic development.
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