Dubai South, DIP, JGE, And Al Furjan More Flourishing Now
There has been much talk about Dubai Metro and the benefits it will bring for this amazing Middle Eastern city. To be more precise, the passengers can travel from Dubai Marina/Jebel Ali area to the Expo 2020 site in just 15 minutes. But more importantly, there are DIP, Dubai South, JGE and Al Furjan areas that benefit from Route 2020 of Dubai Metro. Read on to find out more…
What Does Route 2020 do?
The Route 2020 of Dubai Metro has the capacity to handle almost 46,000 passengers per hour in both directions. It is interesting to note that it will reach the capacity of 125,000 passengers every day by this year.
Which Areas Does It Cover?
The route will serve more than 270,000 residents who live along the fast-growing areas along the route.
Will The New Route Benefit Real Estate?
As experts say, the route is expected to flourish new developments along the train line, particularly along the site of Expo 2020 including Dubai South. As the demand for new properties in Dubai grown, Dubai Investment Park, Jumeirah Golf Estate and Al Furjan are expected to make much progress. So, the delivery of world-class transport will absolutely have a positive impact on real estate values, occupancy in addition to rentals.
Throughout the history, transport links like Dubai Metro have had influence on property capital values. To be more precise, properties in close distance to metro station (within 10-15 minutes) will see up to 15 percent advantage in capital values and rents.
In addition, landlords will enjoy low vacancy level on the properties that are located in close proximity to metro station. On the other side, the developments that are close to metro station will attract more investors. Millennials also prefer to live in homes that are close to metro station as they prefer public transport.
Also, easy access to public transport is one of the most important factors that is considered when assessing a property.
According to the above, the Route 2020 of Dubai Metro will increase the appeal for the communities that are located around it both from buyer and tenant perspective.