News of the construction of a new international passenger terminal at Dubai Airport has had an impact on property and land prices in the area of the airport. Analysts and developers report an increase in demand and prices for residential and commercial properties in the southern part of the emirate and surrounding areas.
The new terminal, which will be the world's largest by capacity, is expected to attract millions of new residents and workers. This, in turn, will require the construction of new residential complexes, offices, shopping centers and other infrastructure.
Investors have already stepped up. Damac Properties has announced plans to expand its presence in southern Dubai, and Azizi Developments has launched a new mega project worth Dh30 billion.
Experts also expect an increase in property prices in the area. According to Faisal Durrani, partner and head of Mena research at Knight Frank, prices may rise in the medium term, especially near the new airport.
Which areas will be the most attractive for investment?
- Dubai South Properties: several major projects are already underway, including the fourth phase of the South Bay waterfront development.
- Palm Jebel Ali: The revival of this ambitious project is expected to attract the attention of investors.
- Al Furjan, Jebel Ali and Dubai Investment Park: these areas are already in demand due to their developed infrastructure and affordable prices.
Experts note that no immediate impact on house prices is expected as the property market is already booming. More affordable properties will be the first to rise in price, as the majority of new residents will settle there.
Over the medium term, property prices in Dubai South will generally increase due to increased demand from airport-related businesses.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE