Logistics growth drives Dubai property interest
Figures show there will be an increased demand for housing in Jebel Ali as the area undergoes rapid growth.
Last year alone, 480 new companies, including 55 multinationals, launched operations in Jebel Ali.
“There are already more than 200,000 people working at the Jebel Ali Port, and of that number, currently about 80 per cent commute to work from elsewhere in Dubai, or the wider Emirates,” said Niall Mc Loughlin, senior vice president, DAMAC.
In anticipation of this projected growth, DAMAC Properties has been rapidly building its low rise ‘Suburbia’ residential project adjacent to the Jebel Ali free zone.
“Jebel Ali is one of Dubai’s main economic growth engines generating more than $60 billion dollars worth of trade over the past twelve months. Logistics and trade are creating employment and that is stimulating demand for nearby housing,” Mc Loughlin said.
The developer is quickly progressing with construction, to ensure it’s well positioned to meet increasing demand for residential apartments.