Expected to revive land sales and spur new project launches
The real estate sector is the biggest beneficiary of the «Blue Line» of the Dubai Metro
Metro lines cover about 80% of Dubai's urban areas. Archival
Real estate workers confirmed that the announcement of the "Blue Line" of the Dubai Metro will benefit many sectors, most notably the real estate sector, which is waiting for a boom in sales, especially with regard to land on both sides of the metro, where major developers are expected to compete for the lion's share on both sides of the new metro stations.
In detail, the Chairman of the Board of Directors of Alwaleed Investments, Mohammed Al-Mutawa, said that «the blue line of the metro will contribute to a significant positive impact on the real estate sector by completing the tracks in the metro line, and will contribute to the possibility of accessing the places it reaches easily and conveniently, especially that it is in new areas such as Al Jaddaf, silicon, Dubai Al Ain Road and the Meydan, which contributes to the flow of traffic and reduce congestion», explaining that the metro lines cover about 80% of civilized places in Dubai, similar to capitals. Universality.
For his part, the CEO of Stratum Real Estate Management, Saeed Al Fahim, stressed that «real estate is witnessing a strong recovery, especially in areas near the metro, and the demand for them increases significantly, and the demand for land, and even real estate that will be offered later, due to the availability of metro lines, which drives growth significantly and significantly, due to ease of transportation through the metro».
Al Fahim added that "the Blue Line of the metro will contribute significantly to the growth of the real estate sector, and drive economic growth in full, in addition to the projects being offered in the areas surrounding the new line, their prices will increase with the increase in demand for them from groups who are used to using the metro as a means of transportation."
For his part, Waleed Al Zarooni, Chairman of W Capital, said that «metro lines, play a strategic and essential role in the urban renaissance that Dubai has currently reached, and are a strong supporter of the global position of the emirate's real estate and the continuous strong demand from all nationalities», noting that «the Blue Metro line is a strength factor for real estate projects along the metro line and at stations».
He pointed out that the announcement of the Blue Line of the Dubai Metro will benefit many sectors, most notably the real estate sector, which is waiting for a surge in sales, especially with regard to land on both sides of the metro.
Al Zarooni pointed to the growing demand for renting properties close to public transport in Dubai, with commercial activities and tourism growing at an unprecedented rate.
He pointed out that there are five main positive advantages of the impact of metro lines in Dubai on the promising real estate sector, namely increasing the value of land in the areas through which the metro passes, the growth of the volume of construction around the metro lines, the revitalization of the real estate development sector, in addition to doubling the return on investment in real estate for those interested in real estate investment near the metro lines, in addition to maximizing the rental benefits after the development process for real estate owners on the metro lines.
Al Zarooni predicted that there will be a strong recovery in the real estate projects that the Blue Line is going through, which will be reflected in the economic activity of the emirate and the real estate market in particular.
In the same context, the General Manager of the Royal Liwan Real Estate Company, Mohammed Hareb, said that «the new line of the metro, will have a direct impact on real estate prices, whether rents or buying and selling of areas that the metro lines pass by, and this is what we observe in the areas surrounding Sheikh Zayed Road, which has witnessed an increase in demand for apartments», explaining that the «Blue Line» will contribute to raising the market value of buying or renting areas through which the metro passes.
Hareb explained that the "Blue Line" will enhance the rental value and purchasing power of investment in the areas it passes through, pointing out that there is a great development in transportation and infrastructure in Dubai, which helps raise the market value of real estate in general.
Ahmed Al Dawla, real estate consultant and chairman of the board of directors of OnPlan Real Estate, said that "the (Blue Line) of the metro will have a positive impact on the real estate sector in Dubai, because it greatly facilitates the movement of transportation, and transportation by cars makes movement difficult as a result of car congestion, but the metro helps ease movement and access to all areas."
The state added that «real estate demand will witness an increase in the areas through which the metro line passes, for ease of movement and movement using the metro, which will contribute to facilitating the movement of transportation significantly».
Saleh Tabakh, CEO of Andalus Courtyard Real Estate Development Company, said: "The construction of the Blue Line of the Dubai Metro represents a new addition to the metro network with its current red and green lines, and contributes to consolidating Dubai's position as the best global infrastructure, and will have a positive impact on the real estate market, as this line enhances access to different places in the emirate, which raises the values of real estate in the vicinity of the new line and encourages greater interest by investors and those wishing to buy homes."
"Enhancing transport infrastructure is essential to support the real estate market, as it can lead to an increase in rental yields in the areas surrounding the new line, in addition to improving access that enhances the attractiveness of these areas and attracts investors and buyers significantly, which enhances the return on investment for property owners. In addition, increasing the diversity of transport in Dubai can play a big role in reducing congestion and spreading congestion over wider areas, which leads to improving the quality of life and raising the level of comfort in the city by reducing population concentration in certain areas."
He pointed out that the announcement of the "Blue Line" of the Dubai Metro will benefit many sectors, most notably the real estate sector, which is waiting for a boom in sales, especially with regard to land on both sides of the metro, where major developers are expected to compete to acquire as much land as possible on both sides of the metro.
In a related context, the Managing Director of Harbour Properties, Muhannad Al Wadiya, said: "The Blue Line of the Dubai Metro is a great achievement and a step in the right direction to achieve the Dubai Urban Vision 2040, and will have a direct impact on real estate prices in the Emirate of Dubai, especially near the stations of the new metro line."
Al-Wadia added that «(Blue Line) of the metro will have a direct impact, not only on the real estate sector in Dubai, but in other sectors such as the entertainment, academic and tourism sectors», pointing out that the demand is high for real estate near public transport, especially the metro, explaining that «properties near metro stations have higher rental and sale prices ranging from 8 to 15% and the demand for them is higher by a larger percentage».
He stressed that one of the most important attractions for real estate on both sides of the Blue Line is the easy access to the various areas of the city through smart and environmentally friendly public transport, stressing that "the Blue Line will contribute significantly and enhance Dubai's position as a global city and a real estate capital par excellence."
Improving the quality of living
The general manager of Awad Gargash Real Estate Company, Raad Ramadan, said that "(the Blue Line) will serve the real estate sector effectively, and help improve the quality of living," explaining that "the Blue Line is a new façade added to Dubai's achievements, and that Dubai always has continuous innovations, and serves the public interest in Dubai and the UAE in general."
Ramadan added that «the Blue Line is in addition to Dubai's achievements in bringing distances closer and quickly reaching designated places, whether residential, university or tourist colleges, stressing that the Blue Line serves many activities, including economic, residential, tourism, educational and real estate development projects, and helps improve the quality of life».
Ramadan said that the Blue Line will effectively support the real estate sector, and contribute to the rise in rental and real estate prices in Dubai significantly.