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The Future of Dubai Real Estate

Future of Dubai Real Estate

Future of Dubai real estate market is ever-changing with various benefits available for investors and end-users.

Dubai, a city synonymous with opulence and modernity, is not just a bustling metropolis but also a global real estate hub. As we peer into the future of Dubai real estate market, it’s a fascinating journey of technological advancements, visionary projects, and changing consumer preferences.
It is worth bearing in mind that almost 60 years ago, there were only 40,000 inhabitants in the city. By 2022, this figure has grown 80 times to a record 3.3 million people. The largest construction companies in Dubai have increased the building area by 170 times.

 

 Future of Dubai Real Estate

Recently, Dubai authorities have unveiled a large-scale master plan for developing the emirate until 2040. Following the ambitious project, in the next 20 years, the metropolis will become one of the best places in the world to live.

According to the Master Plan of Dubai authorities, it was decided to create new and modernize existing areas of the city. However, not only do elite skyscrapers and luxurious cottage villages appear on Dubai territory, and most of it will turn green. This is a very ambitious project, given that most of the UAE are desert.

New Projects for the Future of Dubai Real Estate

Here is what lies ahead for the residents and visitors of Dubai in 2040:

  • Recreational areas and landscape parks will be doubled
  • National parks will make up more than 50% of Dubai area
  • Green corridors will stretch through Dubai – from residential areas to business centers and major attractions
  • Bicycle and pedestrian paths will appear in all parts of Dubai
  • Environmental-friendly public transport will replace gasoline analogs.

 

 

In the near future of Dubai Real Estate, all areas of Dubai will become convenient for residents. It will become full of green space, recreation areas, shopping centers, and other infrastructure necessary for a comfortable life. According to the plan, more than 50% of the population will have access to metro stations and public transport stops within 800 meters.

The number of medical and educational institutions in various fields will increase by 25%.

Development Plans for the Future of Dubai Real Estate

In addition, by 2040, the population of Dubai will increase to 5.8 million. And if you consider students, tourists, and labor migrants, more than 7.8 million people will live in the metropolis. For such a massive number of residents and guests in the city, new districts will be developed, and existing ones will be enlarged. As part of the Master Plan, the development of these places in Dubai is expected:

1. Deira and Bur Dubai are the city oldest districts and the emirate historical center. Buildings here are considered outdated and inconvenient to living. The general plan provides for the renewal of the districts while maintaining their culture and significance. However, modern residential complexes will appear on the territory.

2. Downtown and Business Bay are the business districts of Dubai, popular with tourists. Dubai authorities are planning to strengthen these centers for the work of representative offices of world-famous companies.

3. Jumeirah Beach Residence and Dubai Marina are the tourist and entertainment hub of the emirates, and authorities are planning to make this part of the city a global tourist center with a concentration of recreation and hospitality areas.

4. Expo 2020 is a World Expo area that will continue to be used for major international events. By 2040, this part of the emirate will become Dubai residential, tourist, and transport center.

5. Dubai Silicon Oasis is a government-owned free zone that promotes modern technology-based industries with a mission to attract talented people from around the globe. According to Dubai authorities, many new productions, office premises, and residential facilities will be developed here.

 

Conclusion

At Home Sweet Home Real Estate Dubai, we are known not only for meeting, but also, exceeding our customers’ satisfaction and expectations. Our goal is to succeed in enabling our diverse team of highly professionals to hold great service and accountability towards our prized customers which is our motto “Turning dreams into Reality”.  For latest updates and more information, visit our page https://hshestate.com/blog/

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