Dubai: The First Middle Eastern Metropolis?
The recent opening of Dubaiís Metro system confirms the Emirateís status as a genuine cosmopolitan global city.
[ClickPress, Mon Sep 21 2009] Like all the worldís most vibrant and dynamic metropolises, a motorised commuter system will enhance labour market flexibility, goods transportation and allow people to move around the city with ease- particularly due to the excellent strategic positioning of metro stations. From Burj Dubai and Burj Al Arab to Emirates Tower and the Dubai Marina, the system covers the major landmarks of the Dubai cityscape.
More significantly perhaps, the new commuter metro system will galvanise Dubaiís growing tourism sector, allowing visitors to conveniently move between the cityís most popular spots, whereas before, people would have to spend money on cabs. There are already 3.85 million hotel reservations for 2010, swelling Dubaiís visitor rates by more than 5% from 2008.
One expert said this week that although taxis in the emirate are not expensive, several journeys per day by this method can soon add up and therefore a more convenient public transport facility was required.
This will be of welcome news to the many British and Irish holidaymakers who are set to travel to Dubai over the next year. As such, many Dubai estate agents are gearing up for an unprecedented increase in interest in residential properties throughout the Emirate. Already a mainstay of Western celebrities and sportspeople, the availability of luxury residences for a fraction of the cost compared to the same standard in Britain has been complemented by a surge of improved lifestyle facilities all over the emirate. Despite the recent economic turmoil, levels of Dubai investment have remained constant and have contributed to continued interest in developing Dubai into the regionís first genuine metropolis.
For those people thinking about property investments in Dubai, it should be noted that Dubaiís Landmark Advisory has suggested that proximity to one of the new metro stations could have a significant effect on property value. A recent study commissioned by them reports that 29% of people interviewed said that being near a metro station was the most important thing when looking for homes.