Revealed: Top 10 locations for Dubai's future mega projects

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai could be set for another round of big-ticket developments with a host of lucrative plots currently up for sale and ready for the next superlative-laden project launch.

An analysis of land listings on website has found plots for sale at in-demand areas such as Wafi, Palm Jumeirah, Dubailand and Business Bay, as well as a coastal offering in the emirate of Ras Al Khaimah.

Prices range from $266m for almost 1 million square feet in Wafi to $39.5 million for 100,000 square feet in Dubai’s Downtown district.

Click here for a list of possible site for Dubai's next mega projects

Lannhill real estate commercial property agent Gavin McNally said most of the interest in land sales in the past six months had come from Indian investors, while interest was also coming from Saudi Arabia, Egypt and within the UAE.

McNally said Business Bay was “hot” at the moment for developers looking at tower projects, while smaller developers were focusing on townhouse-style projects in Jumeirah Village Circle.

FAM Properties property consultant and broker Peter Sleiman said location was the key factor when developers were looking to invest their money.

He said construction costs were much the same across Dubai at AED200-500 ($54-136) per sqft, but the resale price varied from AED1400-1500 per sqft in Business Bay, to up to AED2000-3000 per sqft in Downtown.

Jones Lang LaSalle head of research Middle East North Africa, Craig Plumb, said it was important that proposed levels of supply remained well below those proposed before the property peak in 2008.

First half-year figures released by Asteco last month showed Dubai’s real estate market currently comprised 417,900 apartments, 62,000 villas and 9.6 million square metres of office space.

Assuming construction deadlines were met, it estimated an extra 19,400 apartments, 3,400 villas and 600,000 square metres of office space would be added to the market by the end of 2013.

Click here for a list of possible sites for Dubai's next mega projects

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Opportunity knocks

Opportunity knocks

Government-backed projects for Saudi’s housing markets have been...

Dubai real estate bonds would find buyers amid recovery

Dubai real estate bonds would find buyers amid recovery

Bonds could be issued to fund growing pipeline of new projects...

Arabian Business awards 2012: best of the best

Arabian Business awards 2012: best of the best

Who made the grade in 2012?

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams