The property surrounding Dubai’s new Al Maktoum airport is set to become one of the world’s major real estate hub.
According to a report published by a property broker in UAE, the Dubai South hub made it to its top five global infrastructure projects which could open more real estate opportunities for the next five years.
Once called Dubai World Central, the 145 square kilometer Dubai South, was launched in 2006 as the world’s first “aerotropolis” which surrounds the Al Maktoum International Airport.
The airport’s current freight capacity is planned to be stretched out from 1 million tonnes of cargo per annum to 16 million tonnes whereas the passenger terminal will be able to accommodate 220 million passengers per year when operational.
Recently, Dubai South was announced to feature a Dh25 billion middle-income residential project, which would be spread out as a collection of villages. The first village is expected to be completed in 2019 and it will feature 6,000 homes such as apartments, villas and town houses.
As per the property broker evaluation, the development prospective of this hasty urbanization is huge, opening substantial opportunities to companies and investors that operate internationally.
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