Anticipation is mounting as Dubai’s upcoming Blue Line extension, slated for operational status in 2029, fuels projections of substantial growth in rents and property prices across pivotal areas like International City, Silicon Oasis, Ras Al Khor, Mirdif, Al Warqa, and others set to be linked by the expansion.
Projected Impact and Benefits:
With an estimated one million residents poised to directly benefit from the Blue Line extension, the expansion spanning over 30 km will interconnect nine key neighborhoods, promising elevated accessibility and convenience.
Experts foresee a burgeoning preference for these areas due to their alignment with the upcoming metro line.
Real Estate Projections:
Industry experts, including Ayman Youssef from Coldwell Banker and Farooq Syed of Springfield Properties, anticipate a significant surge in desirability and property values linked to the Blue Line’s connectivity.
Projections suggest a potential rise ranging between 10 to 25 percent in rents and prices across these connected areas.
Youssef highlights Dubai Creek Harbour and Dubai Silicon Oasis as prime areas expected to witness notable increases due to their quality offerings and middle-class appeal.
Impact on Specific Areas:
Syed underscores the impact on areas like International City, Al Warqa, Al Jadaf, Ras Al Khor, and Silicon Oasis, expecting a notable boost in rents and prices following enhanced connectivity.
He cites the example of Karama and Bur Dubai, emphasizing their continued high demand due to metro accessibility.
Fulfilling City Goals:
The Blue Line extension aligns with Dubai’s ambitions, aiding the city in achieving its targeted population of 5.8 million by 2040 by providing more affordable housing options and improved connectivity.
Syed stresses the importance of maintaining Dubai’s allure by balancing quality talent with accessible housing.
Metro Stations’ Impact on Real Estate:
Drawing from historical data, Wael Makarem from Exness notes the outperformance of areas within walking distance of metro stations, exhibiting faster growth rates in prices and rents than other locations.
These areas have shown resilience even during economic downturns, a trend expected to replicate along the Blue Line extension, driving further market stability and growth.
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