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Metro Green Line may add 25% to home rents

The opening of the Dubai Metro Green Line spells good news for property owners and bad news for those renting near the 18 new stations. The opening ceremony for the new line will be held on Friday, with 16 of the stations opening up to the public on Saturday. The other two will open soon after.

Metro boosts property market

In a new research note the company gives the example of a two-bedroom apartment within walking distance of the Mall of the Emirates metro station. According to Asteco, such properties will typically lease for between Dhs60,000 and Dhs65,000 per annum whereas similar dwellings just a couple of kilometres away go for Dhs50,000 to Dhs55,000.