Dubai tram ?to boost local property prices?

Currently, residents in Dubai Marina and Jumeirah Beach Residence rely heavily on cars and taxis to travel around Dubai and the introduction of the major new public transport expansion could change the dynamics of property prices.

The Dubai Tram is scheduled to open on November 11th this year and the 10.6 km-long track will transport 27,000 passengers per day. It begins in Dubai Marina and continues to the depot near Dubai Police Academy.

Simon Gray, Managing Director at Chestertons MENA, said: ?The proximity to high-capacity transit halts has proven to increase property rates, a phenomenon known as the ?transit premium?. This has been true in the case of Jumeirah Lake Towers, which is in the limelight and a much sought-after destination after getting connected with the Dubai Metro network.?

In fact, nearly all rental properties in Dubai are set to benefit from the large influx of new visitors associated with the plans to build the world?s biggest airport at the Al Maktoum International site.

 

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