Dubai South Properties Gain Interest Amid Plans for Massive New Airport

Dubai South Properties Gain Interest Amid Plans for Massive New Airport

Real estate investors are increasingly focusing on Dubai South properties and surrounding areas, spurred by plans to move airport operations to Al Maktoum International. A recent report from PropertyFinder highlights how neighborhoods such as Dubai South, Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, and Al Furjan have become prime targets for those looking to purchase residential units.

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The shift in airport operations has sparked a surge in interest in Dubai South (Dubai World Central), as noted by the real estate platform. Searches for villas in the area have seen a marked increase since the announcement.

Dubai’s Vice President, Prime Minister, and ruler, Sheikh Mohammed bin Rashid Al Maktoum, announced plans to relocate all operations from Dubai International Airport (DXB) to Al Maktoum International Airport in the coming years. He revealed that the new airport’s passenger terminals will be five times larger than those at DXB, currently the world’s busiest hub for international travel.

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Sheikh Mohammed also emphasized the expected rise in property demand around the airport. “As we build an entire city around the airport in Dubai South, demand for housing for a million people will follow,” he stated.

The development is expected to inject dynamism into the market, according to PropertyFinder’s Chief Revenue Officer, Cherif Sleiman. He anticipates continued vibrancy in the market following the transition from DXB to Al Maktoum International Airport, which will likely drive demand across emerging areas.

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While new neighborhoods are gaining attention, established hotspots like Dubai Marina, Downtown Dubai, Jumeirah Village Circle, Business Bay, and Palm Jumeirah remain popular choices for apartment buyers.

The Dubai real estate market has seen substantial growth, with the number of sales transactions increasing by over 45% from April 2023 to April 2024. Transactions rose from 7,999 to 11,607 during this period. The value of transactions also saw a notable increase, reaching nearly AED 32 billion—a more than 21% jump from the corresponding month in 2023.

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