Al Maktoum Airport to influence prices in Dubai South
Al Maktoum Airport to influence prices in
Dubai South
The completion of the new Al Maktoum International Airport, which is set to make it the world’s largest airport, is yet another important element in Dubai’s urban landscape. The airport is expected to have a significant impact on property value in the neighboring Dubai South area.
Overview of Al Maktoum International Airport
Expected to become the largest airport globally, Al Maktoum International Airport is strategically positioned in the area Dubai South. The airport’s expansion is part of the Dubai 2040 Urban Master Plan, which aims to consolidate the emirate’s position as a leading global hub for aviation, commerce, and tourism. Upon completion, this ambitious project will manage over 260 million passengers annually, thus enhancing the region’s connectivity, already dominated by the Dubai International Airport.
The volume of land transactions recorded in the surrounding area experienced a $272 million (AED1 billion) surge since January 2024 alone (according to the latest data from Dubai Land Department) and plans to settle one million residents around the area once developed.
Dubai South’s emergence as a new central business district will drive the need for accelerated construction to accommodate the expected influx of residents, according to Faisal Durrani, Partner and Head of Research for the MENA region at Knight Frank. An anticipated demand-supply imbalance could lead to sustained upward pressure on prices.
Current Property Prices in Dubai South
The emergence of the new airport has already determined a surge in the real estate development in Dubai South. The average property price in Dubai South is approximately AED 600-800 per square foot, the latest data show and the figures are expected to adjust as the airport nears completion. When the Al Maktoum International Airport is ready and becomes operational, Dubai South will be another attractive area for investors and residents alike.
Below are the most high-profile developers that are shaping the landscape of Dubai South, with unique projects that promise to redefine residential and commercial spaces:
- Emaar Properties: Best known for their iconic projects like the Burj Khalifa, Emaar needs no further presentation. This key developer is behind the Emaar South precinct, which features a mix of residential units, commercial hubs, and leisure venues.
- Dubai Properties: This developer focuses on the more affordable residential segment in Dubai South, and sets out to address the needs of a more diverse demographic.
- MAG Lifestyle Development: With an emphasis on luxury, MAG is developing properties that offer premium amenities and innovative smart home technologies.
And these are just a few of the developments in the area, the ones to stand out.
Impact of Al Maktoum International Airport on Property Prices
The presence of Al Maktoum International Airport is expected to generate a ripple effect on property prices in Dubai South. The increased traffic and global connectivity provided by the airport will boost demand for both residential and commercial properties, likely leading to an appreciation in land and property values. Moreover, the enhanced infrastructure and transportation links will improve accessibility, making Dubai South a coveted location for businesses and expatriates.
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