In past few decades, Dubai has been a witness to a staggering development at an unimaginable speed. The sky scrapers seem to be the common site to as far as the vision can extend. But the natural trade off in this situation is the scarcity of land. So, this has ushered in a new trend in Dubai real estate sector which has shifted the focus towards South Dubai. Taher Suterwalla believes that at this point of time, this moves makes the most sense.
The biggest strategic advantage this move offers is the unclogging of the heavy pressure being exerted on the existential residential and commercial properties. With many popular developers already mapping ‘Dubai South’ as the new location with tremendous unearthed potential, the ripple effects can be felt in the adjoining areas as well like Jumeirah Village and Sports City, IMPZ etc. The prices are comfortably around Dh100/sq.ft. There are a few attractions coming up in the area like a shopping centre by Majid Al Futtaim Group.
Dubai Industrial City down south is another beneficiary of this focus shift. It will become a hub for manufacturing and logistics asset. Most of the area is planned to be developed as integrated townships. So land would be subjected to a mixed use, industrial as well as residential. Taher Suterwalla expects this to bring in a lot of crowd.