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Remember the days when traveling in Dubai meant depending on an overburdened bus system, or trying to hail those somewhat rare species called cabs, or worse, driving through mind-and-calf-muscle-numbing traffic snarls?
And then on September 9, 2009, the first driverless, fully automated Metro took off from its sleek, futuristic-looking metro station, and the way people travelled in Dubai changed forever. Students, executives, entrepreneurs, housewives, young mothers, singletons, laborers, and even tourists – everyone uses the Metro extensively.
The Metro has also brought about a huge change in the zones that it passes through. Most property advertisements nowadays make it a point to highlight just how close properties are to a metro station or a feeder bus stop.
The Metro has had a positive effect on the land value and commercial properties in the areas near the stations and those zones linked by the feeder bus service. According to data collected from RERA, most of these properties and land have seen an appreciation in value that ranges from 7 to 34 percent.
The huge appreciation is related to the attraction of a property (commercial or residential) adjacent to a metro station. Mobility increases by leaps and bounds in most cases. Most office-goers and residents find the Metro, with its frequent runs, more cost efficient and a great way to avoid rush-hour traffic and stress. In fact, most sporting events and conferences are now held in venues with ease of access to the Metro.
The Dubai Metro expansion plans are also going to be fast tracked keeping the Expo 2020 in mind. This global event is going to witness an increased use of the system given that a ''no private cars policy'' will be applied to the Expo 2020, in line with the event's green living goal.
• Value of property near Dubai Metro increased by 7 to 34 percent
• Metro users expected to grow in number in years leading to Expo
• Residents and companies choose properties near a metro station
Source: Binu Sivan, Special to Properties, gulfnews.com
The writer is a freelancer