The ‘wow effect’ for Dubai property

02.10.2017

According to the latest 'Global Cities' report by Knight Frank consultancy, a nice urban development plan and even wide facilities and amenities available are clearly not enough for a particular business district to succeed. A new bar is raised, and urban developments require a so called ‘wow effect’. Read more to find what it is all about.

The future has come with new requirements set for commercial and also residential city districts. Now it is not enough for real estate units, clusters and districts to be just comfortable and quality. To increase the capital value of housing, a so-called "wow effect" is needed, a new concept of urban environment for active youngsters, initially created by Google in its main headquarters and the surrounding campus in California, USA. The Googleplex occupies hundreds of square feet with squares, plazas, low-rise commercial buildings all tied in one unified system and adapted to any people’s needs.

Facilities at Googleplex include swimming pools, multiple sand volleyball courts, eighteen cafeterias and even full-size replicas of SpaceShipOne and a dinosaur skeleton.Since 2007 the site has featured a series of solar panels producing 1.6 megawatts of electricity making it the largest solar system in the USA by that time.

This success scenario set up by Google is being replicated by Dubai master developers. Dubai Design Distric (D3) represents exactly the place where the world of fashion, retail, design and culture can coexist. Office buildings already functioning here have significantly increased the average occupancy level in Dubai.

And soon Dubai’s commercial property base will be expanded substantially due to the implementation of a new business park project with Emirates Towers and the Uptown Dubai cluster (formerly Burj-2020) located next to Jumeirah Lakes Towers.

The report by Knight Frank says that the expansion of residential and commercial real estate sectors in Dubai is fully justified. Dubai’s population has increased by 134% from 1.3 to 2.4 million during the last decade. And this is the main fundamental argument in favor of real estate investments in the emirate, Knight Frank said in its report.

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