How Dubai’s new Route 2020 will drive demand for residential, commercial properties – ZAWYA

  • Date: 02-Aug-2020
  • Source: Zawya
  • Sector:Real Estate
  • Country:UAE
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How Dubai’s new Route 2020 will drive demand for residential, commercial properties – ZAWYA

Connectivity and accessibility are key demand drivers for real estate, particularly in residential and commercial property. The inauguration of Dubai Route 2020 metro extension promises to do just that for the real estate close to it. Properties close to transit hubs have historically outperformed the broader market, according to Taimur Khan, Associate Partner at Knight Frank, who noted as well that properties within a 15-minute walk witnessed a price increase on average of 33 percent over the 2010 to 2018 period."From 2010 to 2018, the average mainstream residential price per square foot in Dubai grew by 28 percent, whereas units within a 5-minute walk of the metro saw prices increase by 51 percent, and those within a 10-minute walk saw a 58 percent raise,“ he told Zawya.  Properties close to transit hubs have historically outperformed the broader market, according to Taimur Khan, Associate Partner at Knight Frank, who noted as well that properties within a 15-minute walk witnessed a price increase on average of 33 percent over the 2010 to 2018 period.Connectivity and accessibility are key demand drivers for real estate, particularly in residential and commercial property. The inauguration of Dubai Route 2020 metro extension promises to do just that for