By Parag Deulgaonkar www.emirates247.com
Properties within walking distance from Dubai Metro’s Route 2020 stations, which will run from Nakheel Harbour and Tower station to the Expo 2020 venue, are expected to see an increase of 10 to 20 per cent in rentals and prices, according to a real estate expert.
“With the Dubai market now more familiar with the benefits of proximity to the metro, I would expect there to be a rental and sale premium of 10 to 20 per cent for those units within walking distance of the stations over those in the same project, but far from the stations,” Craig Plumb, Head of Research Mena at JLL MENA, told Emirates 24|7.
This premium will not, however, emerge until the line is completed and operational as few people will be willing to pay a premium in advance of the opening of the metro, he added.
According to JLL expert, there are no purpose built high density transit oriented developments (TOD’s) around the metro system in Dubai to date, as the existing route is largely designed to service existing areas of development. More info and photos