Dubai South, a major single-urban master development in the region neighbouring Jebel Ali and Expo City, is fast emerging as one of the most exciting new districts in UAE, according to a Dubai-based property group.
Driving the development of Dubai South and rejuvenating the real estate market is the $35 billion terminal at Al Maktoum International Airport. This terminal will enhance capacity to 260 million passengers and create the world’s largest airport, five times the size of the current Dubai International Airport on the other side of the city, stated Unique Properties, which is at the forefront of this exciting development.
Surrounding this extensive expansion, the Dubai South Freezone is becoming a cohesive economic environment supporting businesses and services in technology, events, hospitality, and pioneering new industries. The real estate group pointed out that at the core of Dubai South's transformation lay a commitment to sustainability.
Smart city and green technologies ensure the district aligns with the UAE's vision, creating enduring and dynamic eco-conscious communities that are in high demand, it stated.Real estate proposals already announced for Dubai South include upscale residential projects by Damac, waterfront homes and luxury leisure facilities at Southbay Lagoon, a peaceful golf course community from Emaar, and the reinvention of Expo City as a fully integrated modern village.
According to Unique Properties, end users and investors are moving quickly to take advantage of the low costs and future potential in Dubai South compared with central regions such as Downtown Dubai, Business Bay, and Dubai Marina.
This phenomenon will only increase with the relocation of businesses and populations in line with the growth of Al Maktoum International Airport. In the last 6 months alone, Dubai South saw a 22.8% surge in rental yields with a valuation of AED211.4 million, it stated.
Data projections anticipate the arrival of up to one million residents and over 500,000 new job opportunities, propelling further increases in the near to medium-term future.
Other benefits driving the investment value of this 145 sq km integrated ecosystem include its status as a freezone with 100% foreign ownership, 100% corporate and personal tax exemption, an on-site visa and licensing authority, and infrastructure-ready plots, it added.
