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    Real estate prices in Dubai South are expected to rise 15-20 percent as a result of Al Maktoum Airport's $35 billion expansion

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          The Expo City masterplan gives Dubai South another boost in property development after the airport

          October 7, 2024
          in Dubai, Reports and Updates, UAE
          Reading Time: 4 mins read
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          The Expo City masterplan gives Dubai South another boost in property development after the airport
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          Interest in off-plan residential projects in Expo City, Dubai, will increase with the implementation of its new masterplan, which includes the creation of distinct mini-hubs and opportunities for future attractions.

          The masterplan comes after Dubai’s other significant announcement regarding that region, which is the construction of the largest airport in the world and associated billion-dollar new investments. (The project was revealed back in April.)

          “By itself, the Al Maktoum International Airport created one of the biggest boosts for the Dubai property market – and for Dubai South specifically,” said a real estate consultant. “The Expo City masterplan will now become the other magnet for residential and commercial property development and investors.”

          An initial round of launches aimed at off-plan buyers had already taken place in Expo City, and the response was positive. It was a component of the repurposing Dubai intended to carry out for the glamorous Expo 2020 venue, which would run for six months.

          The land was divided into two primary residential zones: Expo Central, which featured three clusters of high-rises near Al Wasl Plaza, and Expo Valley, which featured townhouses and villas.

          The real talk, though, is about how the Expo City of the future will look and what that means for the residents and employees. When the third residential cluster at Expo Central is launched, which is probably not too far off, a lot of that will be on show.

          When will first residents move in?

          Early in 2026, the first residents of Expo Valley should move in. There are 532 villas, townhomes, and semi-detached buildings there. Expo Valley plots, which range in size from 7,500 to 12,500 square feet and offer the “flexibility to combine areas to suit their needs,” were also introduced by the master developer.

          Currently listed on the Bayut website are 3,920 square foot villas with four bedrooms at Expo City for Dh7.4 million, and a five bedroom unit for Dh8.7 million.

          Given their proximity to the newly constructed Al Maktoum International Airport and the expanding Dubai Exhibition Centre, the projects have a lot going for them in terms of visibility.

          According to the master plan, Expo City will occupy 3.5 square kilometers, with up to 35,000 people expected to live there and 40,000 professionals seeking employment.

          “The new masterplan further validates DP World’s decision to relocate our global headquarters to Expo City Dubai – a prime location next to Dubai’s Logistics Corridor, linking all the major shipping lines of the world that call on Jebel Ali Port with Al Maktoum International Airport”– Sultan Ahmed bin Sulayem, DP World’s Group Chairman and CEO

          Now, the construction of Expo City will take years, with a large portion of it occurring in tandem with the new airport’s development cycle. (The first phase of the Airport has a 2030 completion plan.)

          Because of this, the residential launches that Expo City has had thus far may provide some clues as to the pricing and price movements that can be expected in the years to come.

          Mangrove Residences

          The first cluster to launch, it had three towers that could be seen clearly towards Jubilee Park and Al Wasl Plaza. It was also only a five-minute walk from Expo City’s amenities and attractions.

          There were four hundred and fifty one- to three-bedroom apartments, four-bedroom loft apartments, and three-bedroom townhouses in the first phase, with prices starting at Dh1.2 million. Two-bedroom apartment listings range in price from Dh2.56 million to Dh3 million. The handovers of these are planned for Q4 of 2025.

          “Closer to the handovers of these initial set of homes would be a good indicator of Expo City’s future pricing,” said an analyst.

          The master plan calls for creating five grid-organized districts to facilitate easy access, flow, and navigation.

          The Expo Downtown will extend from the metro station to Al Wasl, then on to Terra and eastern edge of the City. “Al Wasl will remain as a ‘cultural garden’ and the district will also include the Terra Living residential buildings, the ‘floating’ Terra Garden and Terra Tower – a high-end, mixed-use office and hospitality tower and the tallest building at Expo City,” says a statement.

          Fitting in the green

          “The landscape will be full of greenery and shaded open spaces – ensuring a comfortable micro-climate and plenty opportunities for rest,” the statement adds.

          “A nature-based design will help to solve a number of the modern city’s challenges, using native plants and biodiversity to better protect against cloudbursts and floods, clean the air of particle pollution, reduce emissions, and provide shade during warm weather.”

          It is evident that Expo City has considered every scenario when creating the master plan. The minute and personal details are what will count to the developers and investors who will create this Dubai “City.” All other details will sort themselves out.

          Tags: DubaiDubai SouthExpo CityProperty DevelopmentReal EstateUAE

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