- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Deira has been the epicentre of trading activities from the days of Dubai’s emergence as a free port. Newer locations like Downtown Dubai and the Marina area, and several free zones have come up, but Deira continues to retain its pride of place as a thriving business district.
To compete with the swankier commercial districts in the new locations of Dubai, several new projects have been announced in Deira.
These are expected to transform the area, helping it shed its image as a location trapped in its old world charm.
These include the Union Oasis project, with two mixed-use towers, that will be constructed above the Union Metro Station in an area spread over 15,000 square metres. The new development will feature residential units, office complexes and retail outlets. Dubai’s RTA will be developing this project in partnership with the private sector.
Union is one of the busiest metro stations serving the residents of Deira, but is also one of the popular interchanges between the Red and Green Lines. Last year, around 9 million people used this metro station.
Jewel of the Creek, located on the waterside near the Floating Bridge, Al Maktoum Bridge and Baniyas Road, is another project. This project will have four to five towers consisting of a hotel and serviced apartments along with a marina. Construction has already commenced and is expected to be completed by the third quarter of 2017.
Aladdin City is yet another ambitious development in Deira. This will include commercial offices and hotels housed in three towers occupying around 450 metres. Work on this project, located in Al Rigga, is expected to start next year.
Many real estate experts have urged landlords in Deira to refurbish their units as these have the potential to fetch high rentals.
• Union Oasis project involves two towers built over metro station
• RTA to join hands with private developer to develop the project
• Aladdin City and Jewel of the Creek are also coming up in Deira
See more of Deira's projects now like Deira Islands.
Source: S. Dhar, Special to Properties
The writer is a freelancer