Staff Report
Dubai, UAE
Unique Properties, one of Dubai’s leading real estate agencies, has announced the collection of Dh20 billion in sales, a large portion of which comes from Dubai South. Located near Jebel Ali and Expo City, the burgeoning district is forecasted to become one of the most-sought after residential and commercial areas in the near future. It is home to the highly-anticipated Al Maktoum International Airport. The US$35 billion (Dh128 billion) terminal expansion aims to create the world’s largest airport, boosting capacity to 260 million passengers. Dubai South will also host a free-zone which will support businesses and services in technology, events, hospitality, and pioneer new industries. These are part of the region’s masterplan to drive economic development.
Dubai South will also promote sustainability with smart city initiatives. Planned developments, like upscale residences by Damac, waterfront homes at Damac, and a golf course community by Emaar, are set to enhance growth of the region’s real estate sector.
Investors are drawn to Dubai South for its cost-effectiveness and promising growth as compared to central regions such as Downtown Dubai, Business Bay, and Dubai Marina. Recent figures indicate a 22.8 percent increase in rental returns reaching Dh211.4 million. Future prospects foresee a population influx of one million and creation of 500,000 jobs, driven by Al Maktoum International Airport. Advantages encompass free-zone privileges, full foreign ownership, tax exemptions, and extensive infrastructure covering 145 square kilometres.
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Also read: Dubai South Properties sells out final phase of South Bay in four hours
