Expo City becomes Dubai's new budget destination
Expo City becomes Dubai's new budget destination
Expo City is quickly becoming the preferred location for buyers looking for affordable property in Dubai.
Expo City, Dubai's newest project, initially launched in March, is already competing with Al Furjan and Jumeirah Village Circle for new investors. For example, at Mangrove Residences (in Expo City), one-bedroom apartments cost between AED 1.39 million and AED 1.59 million, while two-bedroom apartments cost between AED 2.05 and 2.55 million.
In addition, buyers are offered affordable payment plans, with 50% payment due prior to handover and the remainder over the next five years.
The attention attracted by Expo City is positively impacting real estate sales in Dubai's South District. According to Samir Lakhani, Managing Director of Global Capital Partners, there has been an increase in prices - primarily due to unscheduled launches - by as much as 40%.
South Dubai is emerging as a new hub for residential developments not only in the affordable segment, but also in the upper mid-range and premium segments. The master plan provides for the rotation of offers, which ultimately interested investors and end buyers.
