HE Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), revealed that the Dubai Metro has triggered a rise in the value of properties situated within a 1.5 km radius of metro stations on both the Red and Green Lines by a rate ranging from 13% to as much as 41%.
Similarly, the rental & sale value of such properties has appreciated by up to 10%; which indicates the huge impact of the Dubai Metro on boosting the market value of properties served by this transit mode.
“From inception, the RTA has been keen on linking vital facilities & densely populated property projects with mass transit means in keeping with its mission of developing integrated and sustainable mass transit systems, and delivering high-class services to a specific demography in support of the development plans in the Emirate of Dubai. Linking properties with mass transit systems, or the so-called Transit-Oriented Development is underlined by the importance of these modes in easing the mobility of residents, reduced cost of journeys, and hiking the market value of property units. For example the cost of journey from properties benefiting from the link with mass transit systems has dropped by as much as 300%,” said Al Tayer.
“An examples of vital facilities linked with the Dubai Metro is the Burj Khalifa Metro Station which was visited by 6.6 million riders in 2014, and the air-conditioned footbridge linking the station with Dubai Mall has increased the number of riders by 59% compared with the previous year.
The annual growth rate of the station visitors during the first three years since the opening of the bridge was estimated as 35%. Other examples include Mall of the Emirates Station, which was used by 5.8 million riders last year, recording a rise in the number of riders by 12% p.a.,” he continued.
Al Tayer further stated that the public transport systems, especially the Dubai Metro, and linking them with commercial & residential properties contributed to reducing carbon emissions from private vehicles from 2010 until this year by 58%. It has also brought about saving of about AED87 billion in waste time & fuel during the period from 2006 to 2014, besides providing safe, smooth, express and environment-friendly mobility across the city of Dubai. More info