The Dubai 2040 Master Plan & its effect on the Real Estate Market
Dubai has always been known for its extraordinary ideas, and this time the city has moved a step further with the Dubai 2040 Master Plan announced by HH Sheikh Mohammed Bin Rashid Al Maktoum.
Transforming The Emirate In Under 20 Years
- The aim is to promote the development of recreational parks, green societies, better cycle tracks, green oasis, and public transport with better connectivity. In short, 60% of the city will consist of natural reserves.
- Five new urban areas will be constructed, improving the quality of life for both residents and visitors.
- The plan will effectively focus on enhancing the space for education and medical centers by 25%, and the length of the beaches will extend by a whopping 400%.
- The transformation will help boost investment, trade, tourism, and business possibilities in the city, inviting expatriates from across the globe.
How Does It Effect Real Estate?
- HH Sheikh Mohammed Bin Rashid Al Maktoum in a tweet mentioned that he intends to, “Make Dubai the best city in the world to live in.”
- As the city will expand further emphasizing green spaces, new projects will be announced focusing on green living.
- Areas with properties around the large educational institutes and healthcare centers might witness a significant rise in prices.
- With different forms of visas being announced, foreign investment will increase, boosting the demand for the best real estate projects.
- As the connectivity increases, properties in areas with the best connectivity will see an increase in interest.
Dubai 2040 Master Plan intends to make the city a ‘multicultural metropolis’ and bring in investment across all sectors. With a view to position Dubai as the best place in the world to live in – making it a sought-after investment hub.
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