The success of Dubai: the real estate and the life of the future

Dubai creates an environment for a better life. This life like a magnet attracts wealthy and ambitious relocates striving to live well. And even better in the future. What is the secret of Dubai's attractiveness? It is looking into the Future!

Old photos of Dubai in the 1990s show buildings sprouting up in the desert along the development road, the Sheikh Zayed Highway. There is even a ‘Museum of the Future’; you can pull back the curtain on perspectives.

Comparing old photos to the current appearance of Dubai is impressive. And the development plans are even more impressive.

As practice shows, it is planning that allows Dubai to attract more and more investors, relocates, businesses and capital from all over the world every year.

Demographics #1

The Dubai Statistics Center reported that as at December 17, 2023 the population of Dubai has grown to 3.65 million compared to 3.55 million as at January 1, 2023. Over the year the growth has accelerated by 40% compared to 2022. And by 2040, the authorities ambitiously plan to… double the population of Dubai!

In as little as the last 10 years 1.5 thousand millionaires have moved here from the UK.

Knight Frank surveyed 183 HNWI (High Net Worth Individuals) with a net worth of $3 million, and 66% of them either already have property in Dubai or would like to move here and buy property.

According to the Henley&Partners report on the private capital migration, in 2023 Dubai ranked second in the world in terms of HNWIs for whom it became a second home - 4.5 thousand relocated HNWIs with a net worth over $1 million. Australia is in the lead.

Plans for a bright future

The Dubai 2040 Urban Master Plan for development was adopted in 2021, and of course they plan to create the best place to live, No. 1.

This is the seventh plan since 1960, and as we can see, it works! Since that time Dubai has grown 170 times bigger, the population has increased eightyfold (while earlier it amounted only to 40 thousand people).

What are you planning to improve? Everything! Dubai's future development plan includes:

• urban environment improvement;

• expansion of transport infrastructure;

• large-scale landscaping;

• increase in economic indicators;

• increase in population and development;

• development of all social spheres;

• other plans. 

The length of the beaches should increase by 105 km due to the beach area of artificial islands and the expansion of the current beach areas. There will be more and more palm trees.

A 30 km long blue metro line will be launched in 2029. It will connect the International Airport with the areas of Mirdif, International City, Creek Harbour, Festival City and others and will also connect the areas of Rashidiya and Al Jaddaf, will pass through Dubai Festival City, JVC, Al Barsha, Nad Al Sheba.

Dubai Hills Mall will have a metro. The extension of the red line to 3.5 km to the Mirdif City Centre is also planned. While the green line will pass through the Emaar Dubai Harbor area to the Dubai Academic City area.

Up to 60% of the emirate's territory will be occupied by nature reserves and green areas. It's hard to believe this when looking at satellite images. But nothing is impossible for the most ambitious government. Indicators of more than a half of the greenery in the desert are planned to be achieved through:

• creating new green areas and expanding existing ones;

• tight integration of parks and greenery into the urban environment;

• increasing the area of reserves and natural parks.

The greenery continuously, even in the heat of +40°C, covers the previously deserted Emirates due to the developed irrigation system, everything is watered several times a day. Where does the water come from? They take it from the sea and clean off the salt. Besides artificially created rains fall in Dubai and they are even cheaper than irrigation. But one lush tree costs the budget $2 thousand per year.

In 2007 Shaikh Mohammad Bin Rashid Al Maktoum, the ruler of Dubai, said: ‘I want my people to live better now, not in 20 years.’ And this phrase incarnates his entire path as a ruler. Already living better than anywhere else, the people of Dubai have the opportunity to live even better in the near future.

Dubai real estate investment is both a bright present and a bright future. The emirate offers the widest range of opportunities for property buyers, including long installment plans of up to 7 years and visas for buyers.

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Coming soon in the blog: Shock development projects in Dubai, promising locations for real estate investment.