It is claimed that aviation growth in Dubai will apparently give a boost to real estate market. This shall not only lead to rising in the demand of property in Dubai, but its prices too! The real estate sector is expected to come into view as one of the main beneficiaries of the development of Al Maktoum International Airport.
This two-phased project is said to cover area of 65 square kilometres in Jebel Ali, which might turn out to be extremely advantageous for the city and the economy on the whole. There is no denying to the fact that Dubai International Airport is already the world’s busiest platform for international traffic. And since aviation happens to be the pillar of growth of Dubai’s economy, it continues to play a significant role in the development.
Additionally, the contribution of the aviation sector to GDP is expected to rise to 32% by 2020 from 28% at present. Undoubtedly, there would be loads of jobs on the block. This shall prove to be a wave of growth for Dubai. Given the fact that the ripple of jobs would be created, this would give rise to the demand of property – both lettings and buyer demand will shoot up, thereby, proving to be extremely advantageous for Dubai real estate market.
Certainly, the development of Al Maktoum Airport will assist in scooting the growth activities, It, moreover, will allow the aviation related industries to mobilise and take up position to house the largest airport in the world.
Since the plans of development of airport are becoming clearer, there can be seen a significant and diversified base of occupiers seeking a location around the aerotropolis. That is because this aerotropolis expects to serve the passenger capacity of 220 million each year. Additionally, Jebel Ali Port’s development will pave path for the attractive position for industrial occupiers, thereby, letting growth step on the doorstep of the world’s largest and arguably most important aviation nexus..
To be precise, the expansion of Al Maktoum International Airport will enhance the demand for Dubai residential property, hence, giving the real estate market of Dubai with a substantial boost.