If you happen to find yourself in the vicinity of the new Al Maktoum airport in Dubai, you are right in the middle of what’s set to become one of not just Dubai but the world’s hottest spots in the Dubai real estate market – Dubai South.
Realty experts have made it public that the new 145-sq km Dubai South hub (formerly known as Dubai World Central) is set to become one of the world’s top infrastructure projects, which will pave the way for a wealth of investment opportunities over the next five years.
Dubai South’s development scope is huge and firms as well as investors, particularly operating on a global scale, would be daft to let this opportunity slip by. ‘The Villages’ project here for instance, will unfold by building five unique community-based settlements which will house about 20,000 units. Construction on the first phase begins in the first quarter of 2016 and the proposed completion timeline is 2019.
The developer says this project is worth a whopping AED 25 billion and incorporates a ‘greener lifestyle’ environment; residents can grow or purchase locally grown produce, thanks to the greenhouse which boasts a botanical garden and several farms. In addition, walking trails in the greenhouse will be host to outdoor activities which can be enjoyed by individuals of all ages in a climate-controlled environment.
Every village in the Dubai South project will house beautifully-design villas, apartment buildings and townhouses, all in an environment that’s unique to each of the five communities.
Dubai South will be regarded as one of Dubai’s most strategic and important commercial hubs in the UAE, given the improving connectivity and the airport especially which will see expansion of its current freight capacity of a million tonnes in cargo a year, to 16 million tonnes. Imagine the ability to handle 220 million passengers on an annual basis when operations at Dubai International Airport are handed over.
Dubai’s First Rent-to-own Scheme
Also launched in Dubai South is the ‘rent to own’ scheme, a first in Dubai, which is a finance option that’s going to be available in The Villages project. This can be the answer to what many Dubai tenants have been dreaming about amidst rental hikes and petty Dubai rental disputes.
In a rent-to-own scheme, tenants pay rent over a fixed number of years. This total rent can be converted into equity, should they decide to purchase the same property after a certain time period has expired.
The Villages project also happens to be within close proximity of Abu Dhabi, and therefore, makes for an ideal long term investment hotspot.
This new wave of mega-infrastructure projects practically guarantees Dubai’s reputation as a sought-after global investment center over the next decade, and Dubai South happens to be at the very cornerstone.
You need to ensure all your investment transactions are handled in a clean, easy and transparent manner. Not only that, you should also be equipped with the latest knowhow so as to what investment spots in the UAE are of strategic importance and bring in the highest ROI. Come talk to our network of real estate companies to act as your guiding compass in the thick and thin of Dubai real estate.