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New Metro stations to boost Dubai property market, says expert

DUBAI, 15 days ago

Dubai’s commercial, residential and retail property markets are set to benefit from government plans to double the number of Dubai Metro stations by 2040, according to leading real estate consultancy Chestertons Mena. 
 
Train and metro stations bring in a steady flow of commuters and pedestrians, meaning higher visibility for businesses located nearby and, in turn, more customers, it stated. 
 
Plus, easy access to public transport encourages more people to visit, leading to increased business for retailers, restaurants and service providers, it added.
 
Andrew Elliott, the Director Commercial Agency at Dubai-based Chestertons, said: "Property values can significantly increase as a result of the construction of new train or metro stations for a number of reasons, including increased footfall in the area, improved accessibility, higher property demand and better connectivity."
 
"New transport links also encourage more investment by developers and can stimulate further urban growth and redevelopment," he noted.
 
Elliott pointed out that a metro station could also make the surrounding area more attractive for commercial and residential properties, driving up rental rates and property values. 
 
"Some people may even see it as an opportunity to ditch the car and invest the money in a better property, with the added convenience of public transport on the doorstep," he added.
 
"In addition, the focus on sustainability and reducing carbon emissions will make properties near metro stations more attractive to environment-conscious investors and residents.  As the city continues to grow, enhanced public transport infrastructure will play in increasingly crucial role in supporting Dubai’s vision of becoming a global hub for business and tourism," he added. 
 
According to Chestertons, enhanced connectivity attracts businesses that rely on access to transport networks, such as logistics companies, distribution centres and service providers.
 
Developers, meanwhile, could be more inclined to invest in new projects near transit hubs, anticipating a higher return on investment due to the expected increase in demand and property values.
 
Dubai’s new stations could also stimulate urban redevelopment in nearby areas, resulting in improvements in infrastructure, public spaces and amenities that further enhance the appeal of commercial and residential units, it stated. 
 
In addition, locations near major transit stations are often seen as more prestige and attractive to investors, which can drive up property values, it added.-TradeArabia News Service



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