Kept up by Dubai’s being the host city for Expo 2020, realty developers commenced 42 expansions, which comprise 17 villa and townhouses projects, this 2014 until the end of August, statistics divulged in a report.
These projects house almost 11,250 units. The 17 villa projects have approximately 3,041 units, whereas the other 25 projects contain 8,209 apartments.
Developers including, Emaar Properties, Dubai’s largest property developer, Nakheel, a Dubai government owned developer and Damac Properties, a private developer, have been on the front position of these projects launch.
Global Investment House, Kuwait-based, has averred robust economic essentials and boosting market reaction persist to urge the UAE’s realty market, while Dubai World Expo 2020 would continue the key channel for the sector.
The UAE real property market sustained its uptrend at a gradual rate in the second quarter 2014, residence prices increased 6% in Dubai while 5% din Abu Dhabi quarter on quarter.
Dubai is the host city for Expo 2020, which will run from the period of October 2020 to April 2021. In the run-up to the event, approximately 277,000 new employments will be generated.