With tremendous growth potential, Dubai South is quickly becoming a global centre for innovation and an increasingly in-demand place to live and work, making it an exciting property investment hotspot for investors from around the world.
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Previously known as Dubai World Central, Dubai South is a multi-phase, mixed-use development dubbed as “The Centre for Tomorrow”. The masterplan for this area places a focus on the happiness index and embraces the concept of a “purpose-made city”. It’s split up into eight different sub-areas:
Many describe Dubai South as a city within a city, covering almost 145 sq km. Once the development is fully complete, it will be a fully self-sufficient district with all of the facilities and amenities needed to live, work and play.
On top of that, Dubai South has played host to a range of international events, such as the Dubai Air Show and World Expo 2020, which put investment in Dubai on a global stage. The development is also located close to the largest theme park in the Middle East, Dubai Parks and Resorts.
Included in the Dubai South development is a leading aerospace hub and multimodal logistics ecosystem. The area also boasts business-friendly free zone benefits, which is set to entice more businesses to the area.
Additionally, there’s commercial and retail infrastructure with modern purpose-built office spaces and a business centre with smart desks. With this investment, Dubai South is set to be a major contributor to the economic growth of Dubai and the UAE as a whole.
By 2025, 35% of Dubai GDP is expected to be generated within the mixed-use development, according to the official website for Dubai South. Currently, more than 5,000 companies are operating in the area and 500,000 jobs have already been created.
Boasting a strategic location with connections by air, land and sea, Dubai South is well-positioned to be a global transport hub. The development itself is being centred around the Al Maktoum International Airport, which is set to become the world’s largest airport upon completion and will transport more than 160 million passengers per year.
Dubai South is also directly connected to the Jebel Ali Port, and it’s located around 30 miles from the centre of Dubai and less than 70 miles from Abu Dhabi, providing easy access to the two largest cities in the UAE. There are three arterial roads connecting the area, including Sheikh Zayed Road, Sheikh Mohammed Bin Zayed Road and Emirates Road.
Dubai’s Road and Transport Authority manages the F55 bus, which services the local area. Dubai South is also set to get its own metro line, which will be an extension of the current Red Line of the Dubai Metro. This will make it easy to get into the heart of the city and will further improve the area’s liveability.
The development and regeneration projects of Dubai South will provide everything residents need right on their doorstep, which will make it an especially attractive area to live in and will boost demand among buyers, investors and tenants.
It’s a particularly appealing location for professionals, including those working in the area and other parts of the city. There’s a diverse range of residential properties on offer, including first-class apartments, townhouses and villas to suit different lifestyles.
The Dubai South project will be able to sustain a population of a whopping one million people. Currently, the development has 5,000 residents, which shows the growth the area could see in the coming years.
Average property prices are also lower in Dubai South than many other areas across the city. However, house prices are predicted to increase as more developments and investment come to the area. In Dubai South, the current average sales price for apartments is AED 620 per square foot, according to data from Chestertons.
With more developments planned and currently underway, Dubai South is forecast to record strong growth in the coming years, particularly in the rental market. Currently, the average annual rent comes to AED 42 per square foot.
Tenant demand will likely take off as more and more people and businesses move to the area. This shows the strong property investment prospects this area can offer, particularly for international investors looking for a long-term investment.
Dubai South’s property investment prospects look immensely positive. As more people are expected to move to the area in large numbers, it could prove to be the latest emerging property investment location in Dubai.
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