Metro expansion to push up rents

With Dubai planning its red line in the metro, properties on the line are set to see a hike in rental prices.

A planned expansion of Dubai’s Red Line metro from the Nakheel Harbour station to the Expo 2020 site is expected to push up property prices in its proximity, even before the route is operational.

Properties close to the new metro stations are set to see sales price increases of 10 to 15%, according to consulting firm Valustrat

“Properties within a 10 minute walking distance of some of the proposed new metro stops may prove of stronger interest even in the short term as purchasers seek to identify investment areas for possible future gains,” the firm said in a statement to Gulf Business News.

“Upon commencement of train services sales values could potentially have increased by a premium of 10-15 per cent compared to other parts of the community located further from the station.”

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