The Dubai Council’s recent decision to set up new development projects in the emirate’s countryside was positively received by real estate developers who told Arabian Business that this move will create a wide range of new opportunities.
The projects seek to develop Dubai’s countryside, and transform it into cultural, tourist, and environmental destinations.
The partner and head of Middle East Research, Knight Frank, Faisal Durrani, said: “The development of inland and countryside locations in the emirate opens up a range of new opportunities.
“We’re rapidly running out of new neighbourhoods in the city as most are fully built out, or on the cusp of being declared completed. Examples include the Palm Jumeirah and Downtown, for instance, where there are a very limited number of development sites available.”
Durrani added: “In addition to opening up new development opportunities, there is a fantastic chance to increase the focus on ESG, by developing more sustainable inland communities that come with the added USP advantage of serene desert or mountainous settings; something Dubai’s residential landscape has not seen previously.”
The initiative will see the development of a number of areas in the emirate, including Al Faqa, Al Lusayli, Al Habab, Al Marmoom, Al Awir, and Margham, among others.
It will also support a series of development projects to upgrade the level of services and facilities, and to involve the people of these areas in generating economic opportunities.
The CEO of Fakhruddin Properties, Yousuf Fakhruddin, said: “Dubai’s leadership is known for their futuristic and farsighted ambitions. They take on massive and futuristic projects that fit in with the culture and traditions of UAE and always seek to enhance the lifestyle of people and attract tourism and investors at the same time.
“The Dubai Council proved that even in a period of economic downturn, when the world economy was crumbling, Dubai was able to push forward with infrastructure projects, much to the amazement of the people.”
Fakhruddin added: “They are now strengthening their efforts to transform the countryside, which is fascinating to know and will unquestionably improve the reputation of the emirate in the world market, and especially in the tourism industry.
The move will help to improve the infrastructure and amenities in the rural areas, making them more attractive for residents and businesses. It is also a positive step towards diversifying the economy and creating new job opportunities in these regions, experts stated.
“The additional investment and support from the government will go a long way in making the Dubai countryside a more viable option for those looking to relocate or invest in property. With improved access to essential services and greater stability, the Dubai countryside is set to become a key growth area in the years ahead,” Fakhruddin said.
The Dubai Council also launched Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid’s vision for future residential neighbourhoods for Emiratis.
The first stage of this initiative will include Al Khawaneej, Al Barsha, Al Mizhar and Hatta areas, in addition to a series of plans that will be announced in the coming months.
This comes in as house prices in Dubai increased by 10.6 percent in 2021 and by a further 2.6 percent during the first three months of 2022, the highest rate of annual growth since 2015.
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