Dubai South to expand options as city-wide rents surge

Dubai South is rapidly evolving into a vibrant community with a current population surpassing 25,000, and projections indicate that an additional 5,000 individuals will join this burgeoning neighbourhood by the end of the year. Remarkably, despite this moment of growth, the cost of living and renting in the area remains enticingly affordable.

Even as it develops more upscale projects under the banner of “affordable luxury,” Dubai South distinguishes itself by maintaining affordability. Nabil Al Kindi, the CEO of Dubai South Properties, emphasises the company’s commitment to providing spacious, reasonably priced properties. By 2025, Dubai South Properties aims to add approximately 2,500 new units, with other developers potentially contributing an additional 5,500 units.

The community is buzzing with anticipation for a new freehold apartment venture by Dubai South Properties, marking its first since The Pulse Apartments in 2020. The area is also a hotspot for projects from various private developers. Al Kindi highlights the significant transactions and developments over the past two years, drawing attention to Dubai South’s active role as a master developer.

Rental demand in Dubai South spiked in 2023, driven by an increase in property handovers and a wave of first-time residents attracted by the development’s appeal and its proximity to the Jebel Ali Free Zone. Affordable rental seekers are increasingly gravitating southwards, with Dubai South becoming a prime choice.

Current rental rates for two-bedroom apartments range between AED 60,000 and AED 90,000, predominantly hovering around the AED 80,000 mark. Despite a surge in prices since January 2023, these rates remain competitive compared to other parts of Dubai. Dubai South also offers villa options for those interested, complemented by access to golf courses, featuring the development’s high-end potential.

Dubai South is not just about luxury; it also caters to budget-conscious property buyers, with numerous properties priced below AED 1 million. Al Kindi shares ambitious plans for the residential district, including the development of shopping centres and educational facilities. The South Bay project, featuring villas, townhouses, and luxury waterfront mansions, is underway, signalling Dubai South’s commitment to expanding its residential offerings.

The focus on apartment availability and affordability is poised to solidify Dubai South’s reputation as a desirable and accessible living destination, making it a focal point for both renters and buyers seeking value in Dubai’s dynamic real estate market.

Original article reference: Gulf News.

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