The unveiling of the Expo City masterplan has provided a significant boost to Dubai South’s property market, following the development of the region’s major airport. The plan is set to drive increased interest in off-plan residential projects within Expo City, with a vision that includes distinct mini-hubs and the potential for future attractions.
A Second Catalyst for Growth
This new masterplan follows the earlier announcement of the construction of Al Maktoum International Airport, the world’s largest, which was revealed in April alongside multi-billion dollar investments. According to real estate experts, the airport itself had a transformative effect on the Dubai property market, especially in Dubai South. Now, the Expo City masterplan is positioned to be the next major draw for both residential and commercial real estate investors in the area.
Early Success with Off-Plan Launches
Expo City has already experienced success with its initial round of off-plan launches, receiving a positive response from potential buyers. This marks a significant phase in Dubai’s efforts to repurpose the Expo 2020 site, which hosted the six-month global event. The masterplan divides the development into two main residential zones: Expo Central, featuring high-rise clusters near Al Wasl Plaza, and Expo Valley, offering townhouses and villas.
The Future of Expo City
The conversation around Expo City is not just about its current offerings but about its future potential. As more residential clusters are unveiled—particularly the third cluster at Expo Central—the full scope of Expo City’s future as a living and working space will come into focus.
Residential Move-In Timeline
The first residents are expected to move into Expo Valley in early 2026. This area will feature 532 villas, townhomes, and semi-detached homes. Plots ranging from 7,500 to 12,500 square feet have been made available, offering flexibility for customization. Current listings include four-bedroom villas priced at Dh7.4 million and five-bedroom units at Dh8.7 million, with the project’s proximity to the new Al Maktoum International Airport and the Dubai Exhibition Centre adding to its appeal.
Expo City spans 3.5 square kilometers and is projected to house up to 35,000 residents while offering employment opportunities to around 40,000 professionals. However, the full development will take years, closely aligning with the phased expansion of the nearby airport, which is slated for completion by 2030.
Mangrove Residences: The First Residential Launch
Mangrove Residences, the first residential project to launch, features three towers overlooking Jubilee Park and Al Wasl Plaza. This project, located within a five-minute walk from key Expo City amenities, includes 451 units ranging from one- to three-bedroom apartments, lofts, and townhouses. Prices for these homes start at Dh1.2 million, with two-bedroom apartments listed between Dh2.56 million and Dh3 million. Handovers are expected by the fourth quarter of 2025.
As the handover date approaches, analysts believe the pricing trends for these homes will offer insights into future price movements across Expo City’s broader residential offerings.
Urban Design and Sustainability Focus
The masterplan also emphasizes ease of access and movement, with five grid-organized districts designed for seamless navigation. The Expo Downtown area will stretch from the metro station to Al Wasl, extending toward the Terra district, where notable landmarks like Terra Garden and Terra Tower—Expo City’s tallest structure—will stand.
Green Spaces and Sustainable Development
The Expo City landscape will prioritize greenery and shaded open spaces, enhancing the environment for residents and visitors alike. This nature-focused design aims to tackle urban challenges through the use of native plants and biodiversity. These elements will help manage issues such as cloudbursts, pollution, and emissions while also providing shade and a comfortable microclimate.
Expo City’s masterplan reflects a well-thought-out approach, considering both the grand vision and the finer details that will appeal to investors and developers alike. It sets the stage for a dynamic and sustainable future for this emerging part of Dubai.
Published On: October 7, 2024
Source: https://www.propertynews.ae/uae/the-expo-city-masterplan-gives-dubai-south-another-boost-in-property-development-after-the-airport/
