UAE’s Vision 2021 impact on the real estate industry in Dubai

Six categories of desires for the city, including creating a City of Happy Creative and Empowered People; An Inclusive & Cohesive Society – The Preferred Place to Live, Work and Visit; A Smart and Sustainable City; A Pivotal Hub in the Global Economy; and A Pioneering and Excellent Government, Dubai is all set to transform into a city to rival the likes of London, New York and Paris. But, what do these plans means for the real estate industry in the Emirate?

The above-mentioned plans due to be put in place are all designed to increase sustainability and make Dubai a greener place to live. This will have an extremely positive impact on the real estate industry within the emirate as more environmentally friendly initiatives are launched and new communities built are greener and safer for the environment. It is estimated that more ‘green’ plans will be put in place, putting an emphasis on recycling, water wastage and energy usage, meaning the city will generally be a healthier place to live. This can only increase the value of your home in Dubai as more and more people are looking at the sustainability of a building and its ‘green rating’ before buying.

Falcon City of Wonders and UAE’s Vision 2021

Falcon city of Wonders, will emerge with the event's huge popularity to commercialize and stabilize Dubai's status as the region's premier real estate hub. The company's main falcon-shaped mega structure and development featuring the Wonders of the World is a perennial crowd-drawer during Cityscape's Dubai edition. It embodies the emirate's synergy of heritage, advancement, cultural and social diversity as well as its ambition to become an major tourist destination and an ideal Place to Work & live. 

Secondly, the infrastructure plans will again add value to your home, with more hotels, restaurants, malls and cultural centres being built within close proximity of key communities. The impact of building such ventures will definitely increase local house prices as every resident in Dubai is looking for accessibility as one of the main priorities when finding their dream property. The road systems are also in the process of, or planned to be, updated in line with the 2021 plan, meaning traffic will ease and bottleneck areas will become less frequent.

Finally, another aspect to consider is the amount of global interest that will amount due to the Expo 2020 and Dubai 2021 plans. Dubai will be put on the world stage, showcasing all it has to offer, which is set to dramatically increase the amount of tourists and companies setting up headquarters in Dubai. As the city’s population grows, so will the demand for housing which means you will be able to find buyers or tenants more easily.

Overall, the plans put in place by the government in line with the Dubai 2021 dream will only enhance the real estate industry, boasting the economy and securing the future of the sector. Although real estate in Dubai has had its ups and downs, with plans such as this, it is on the path to leveling out and sustaining itself; elements which can only be good news for Dubai property buyers and sellers.