Affordable housing segment in Dubai is expanding

17.07.2015
Analytical web portal Bayut pointed out main Dubai locations expected to see further development of affordable housing real estate sector.

Mid-market properties construction captures new territories in Dubai. According to the latest analysis of the real estate portal Bayut, the main directions for this sector development in Dubai include Meydan, Jebel Ali, Dubailand and Umm Suqeim Road.

It is expected that Dubai residential stock will grow up with new 20-25 thousand units to be constructed in such Dubai communities as International Media Production Zone, Jumeirah Village, Green Community and Dubai Sports City, while the bigger part of all property there is designed for mid-income buyers.

As for the villas segment, affordable housing there will be represented by some new residential complexes built from Barsha south to Meydan on one side and Dubailand on the other.

“It seems that the real estate market of Dubai has come to a specific point where it is witnessing a lack of space available for apartments in certain prime areas of Dubai. Therefore, supply is expected to come in the form of more affordable offerings in locations like the Green Community and further towards Dubai World Central,” said Khan.

Another distinctive sign of the gradual city development is usually an expansion of affordable districts into the neighboring commercial districts and their gradual merging. Therefore, Bayut recommends pay attention to such property, located on the border of these areas.

According to Bayut, 65,000 new residential units will be built in the next two years in Dubai, of which 79% will be apartments and 21% — villas.

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