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Posts Tagged ‘Dubai’

Dubai Metro is one of those projects in Dubai (along with many others), which were discarded by the majority when they were first introduced. Many questions were raised over the likelihood of a world class metro service in this desert (even though, you have to think twice before classifying Dubai as a desert nowadays). Another question mark was placed on its projected completion date, especially after the financial crisis reached Dubai. With the completion date (9th September) nearing quickly, it is quite evident that the completed work is going to be less than what was anticipated. Nevertheless, it will be opening up on the said date, even if it’s going to be partially operative. Dubai Roads and Transport Authority (RTA) is running advertisement campaign to exert a pull on more and more people to make it a success straightaway.

Dubai Metro is a fully automated metro service with the lines spreading on more than 70 km, with a total of 47 stations throughout Dubai. The project is divided into five lines with two of them under construction (Red line, Green line) while three are still in pipeline (Blue line, Yellow line & Purple Line). The project will cost an estimated 15.5 billion Dirham, which probably will exceed as the project move ahead (there is already an 80% increase announced in the budget).

Traffic congestion problems were getting increasingly troublesome for the people living or working in Dubai. Professional complained of spending hours on roads daily on their way to offices and when going back home. News of terrible traffic jams coming from all parts of the city was having a negative impact on Dubai real estate and tourism industry. Now hopefully, Dubai Metro is going to take the edge off the problem as it is expected to have 1.2 million passengers in a single day. With such a huge number of passengers converting to this mode of transport, there will be a definite relief for vehicles on road.

Some of the 29 stations we can expect to be operating at the time of launch are located at Deira City Centre, Nakheel Harbor, Khalid bin Al Walid and Mall of the Emirates. Dubai authorities and other stake holders are anxiously waiting for the initial response of public, the importance of this project is evident from the statement of Director of Marketing at RTA, who said “This is probably the biggest event in the history of Dubai, it’s going to change the way people live”. 

Properties in Dubai represent a significant market perspective, and considering that it was more sensible option to buy property in Dubai. The price of Dubai, the country is facing an increasing number of tourists and Dubai is one of the most popular shopping and leisure destinations in the world. Rental property in Dubai is quite a good option as well, a steady escalation, which must be the main reason why many look for real estate in Dubai.

As one of the fastest growing cities in the world in Dubai has become a very good opportunity to invest in real estate. It is one of the preferred destinations of tourists sailing around the world with no money issues at all. The fact that the real estate sector in Dubai booms with good reason, sought after location of the hotel and resort construction. If you can invest in properties in Dubai, you can take advantage of opportunities.

One of the key issues currently concerned about is the additional price of property in Dubai. This is because the wealth producers could not come all the way down to the level of demand. Real estate purchases in Dubai is very fast and were resold and made a much higher speed a little difficult to assess its original price. Then, it is advisable to consult with people who specialize in this area before you plunge into buying land in Dubai.
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