By Staff writer
Knight Frank expects potential capital value growth when metro is completed
Dubai South, a master planned ‘aerotropolis’, has been named in the list of the world’s five best neighbourhoods in the infrastructure and transport category, according to Knight Frank.
The 145-square kilometre master-planned city, which was launched by the Dubai government in 2006, is projected to sustain a population of a million and designed to create 500,000 jobs. It is home to Al Maktoum International Airport – the world's largest airport in the making, and World Expo 2020.
Dana Salbak, Head of MENA Research, Knight Frank, said Dubai South benefits from on-going government spending on infrastructure projects, notably the expansion of Al Maktoum International Airport and the Dubai Metro’s Red Line (Route 2020), which once complete, will add to the potential capital value growth in the location.
The first two residential communities, set for completion by June 2019, are expected to feature affordable apartments and townhouses with prices starting from AED300,000 for a studio, Knight Frank said.
It was in August 2015 that the government renamed Dubai World Central to Dubai South with Sheikh Ahmed bin Saeed, chairman of Dubai Aviation City Corporation stating the flagship urban project will “set benchmarks for the rest of the emirate in terms of manifesting the themes of happiness as set out in Dubai Plan 2021”.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
In almost every major city around the world the trend is to move away from living near an airport, riotous fights breakout anywhere and anytime a new airport is mooted to be developed in an existing community with the catch cry of not in my backyard.....so how on earth is this particular development from a residential perspective a winner?
Who on earth wants to live next to an airport? and the supposedly biggest one in the world? This doesn't make any sense at all.
Amazing! Another unbelievable feat for Dubai!
"world's best 5 communities" ...A list without merit if it includes developments such as this which have barely broken ground, it simply exists on paper. The good news is that i'm now inspired to enter my 6 year old son's drawing of a 'moon house' (featuring a friendly alien and 'moon dog' ) into " The Solar systems best 5 communities"!
Can't wait to buy a studio there, should be grand success with 2020 around the corner
Think you have to read the small to understand that it was nominated in the "infrastructure and transport category" - this is residential bliss as anyone who lives anywhere near a major airport can tell you.
Great logistics and transport hub (when they sort the road out) without a doubt, but "Golf City" as part of the development - who the heck wants to golf in this area with planes landing every minute - no thanks! #spin #spin #morespin