Dubai Metro seems to have rubbed on its magic to property sector as well. Real estate properties in the near vicinity of Dubai Metro stations have started selling for unheard of prices. Residential properties in Jumeirah Lakes Towers (JLT), close to stations on Sheikh Zayed Road, are selling for 6.5 percent more than units further away, according to The National daily.
Head of real estate management of the portal Gowealthy.com, Andrew Delport, said units near the metro would recover first. “With the metro on the Marina side of the freeway – you’ll definitely see the impact.”
Gowealthy official went on to add that the rental market, the metro would have the biggest effect on prices in Dubai Marina. However, impact of the Dubai Metro over property prices will only be known after the Red Line is up and running from September 9, according to some real estate experts.