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Bayut: Expo 2020 boost for off-plan property projects in Dubai

Proximity to the Expo 2020 Dubai site driving interest in projects such as Dubai South and Mudon, property portal says

Expo 2020 Dubai will run from 20 October, 2020 to 10 April, 2021.
© Expo 2020 Dubai
Expo 2020 Dubai will run from 20 October, 2020 to 10 April, 2021.

Upcoming off-plan developments near the Expo 2020 Dubai site are said to be attracting buyer attention and greater investor interest, according to property portal Bayut. 

Dubai South, Meydan City, Mudon, and Town Square are among the developments that have attracted interest from owners and tenants, Bayut said in a statement.

According to portal, Dubai South offers one of the best options in terms of return on investment (ROI), with rental yields in the locality reaching 11%.

Studio apartments for sale in Dubai South cost around $104,818 (AED385,000), and three-bedroom villas in the neighbourhood are priced at approximately $272,255 (AED1m), according to Bayut.

Prices are compratively higher in Meydan City, with three-bedroom villas being sold at $898,442 (AED3.3m) and studios averaging at $122,515 (AED450,000).

Commenting on the property trend, chief executive officer of Bayut, Haider Ali Khan, said: “[Dubai South, Meydan City, Town Square, and Mudon] are well-integrated neighbourhoods which already offer a high ROI to investors.

"This could improve further when more handovers are completed and tenants have a wider portfolio of properties to choose from."

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Construction Week - Issue 764
May 31, 2020