Upcoming Mega Project (Dubai $5BN Metro Blue Line)
The upcoming Dubai Metro Blue Line extension, spanning over 30 km and connecting nine key neighborhoods, is expected to significantly impact property prices and rentals in the connected areas.
The Government of Dubai Media Office predicts a potential appreciation of up to 25% in land and property values near Blue Line stations. Industry experts anticipate double-digit increases in rents and property prices in key areas like International City, Silicon Oasis, Ras Al Khor, Mirdif, Al Warqa, among others. The Blue Line is set to enhance the desirability of these locations, with estimates ranging from 10% to 25% surge in rents and prices.
The improved connectivity is expected to attract more residents and contribute to achieving the city's population targets under the 2040 plan. Historically, areas within walking distance of metro stations in Dubai have outperformed other areas in terms of price and rent increases.
The Blue Line extension is anticipated to follow this trend, with a potential impact on prices in densely populated or less expensive areas and areas with limited supply of residential and commercial units.
