Dubai is a city that makes headlines every now and then for several reasons. From building the world’s tallest skyscraper to becoming one of the safest places in the world, the city’s prospering in all aspects. The credit goes to the ambitious rulers who leave no stone unturned when it comes to progress. In the ever-evolving landscape of urban development, Dubai has once again taken center stage with its visionary Dubai development plan for 2040. This ambitious initiative is poised to reshape the city and contribute to the sustainable goals of the country. One of its significant impacts is set to be felt in the real estate sector.
What is the Dubai 2040 development plan?
Dubai 2040 development plan was introduced to ensure sustainable development and enhance people’s standard of living. With special focus on the community’s needs, it aims to implement the best global practices for the city’s constant advancement. The following are the main goals of the plan:
- Optimize the usage of spatial and infrastructure resources
- Build smart cities
- Increasing green and recreational areas
- Introduce sustainable and sophisticated modes of mobility
- Attract more investments
- Enhancing environmental sustainability
- Developing a comprehensive legislation
The 20-minute city vision
An innovative vision of making Dubai a 20-minute city is a big step in urban planning. It will help in positioning Dubai as one of the most innovative cities in the world following international standards. The main idea is to strategically place essential services, such as schools, healthcare facilities, shopping centers, and recreational spaces within a 20-minute distance of residential areas. Melbourne and Paris serve as examples for this vision where public transport, schools and shopping centers are built within a certain distance. This will make the city more attractive for residents and tourists. This shift is likely to make neighborhoods more attractive, increasing demand for real estate in well-connected areas. The proximity to key amenities will also have a direct impact on property value.
Housing
Dubai development plan 2040 focusses on meeting the diverse needs of its growing population. It will ensure that the increasing demand in the real estate market aligns with the availability of properties. As the soaring rental prices in the city are raising concerns, there will be residential properties that suit every segment of the society. In addition, the plan also includes new housing developments in Expo City, Dubai World Central Airport and Silicon Oasis.
Sustainability in real estate
Sustainable development is the government’s main focus in this plan. Embracing the principles of sustainability and technological innovation, the housing plan integrates smart living concepts into residential developments. Expect to see an increase in eco-friendly and energy-efficient homes equipped with smart technologies. This not only aligns with global trends in urban development but also positions Dubai as a city committed to creating a greener and smarter future for its residents. Furthermore, it implies an opportunity for investors to prioritize sustainable development in real estate. While environmentally conscious developments are of high demand, it will also support the government’s green initiatives.
The right time to invest in Dubai
If you are looking for the perfect time to invest in Dubai, it’s now. Considering the numerous government initiatives luring investors from across the globe, investing in Dubai will ensure higher return on investment. A real estate broker can make your journey easier starting from choosing the right property to moving to your dream home. One Broker Group, the award-winning real estate agency in Dubai, has a strong track record of selling renowned luxurious properties in Dubai. Contact us now to find the perfect residential property in Dubai.