UAE | Traffic and Transport
'Areas near Metro in demand'
Property and land prices have gone up considerably along Dubai Metro lines, said a senior official.
- By Ashfaq Ahmed, Staff Reporter
- Published: 23:37 May 3, 2009
Dubai: Property and land prices have gone up considerably along Dubai Metro lines, said a senior official.
"I can't tell you how much in percentage but the areas along the Dubai Metro tracks especially near stations have become dearer and we expect a further increase in prices as the Metro work nears completion," Sultan Butti Bin Mijrin, Director-General of the Dubai Land and Property Department, said.
Speaking to reporters yesterday after the press conference at the Dubai Roads and Transport Authority (RTA), he said there has been a gradual increase and not a sudden jump in prices.
"We are keeping a close watch on the situation," he said.
Dubai Metro will run on two lines, the Red and Green. The 52.1km-long Red Line runs from Jebel Ali to Rashidiya along Shaikh Zayed Road while the 22.5km-long Green Line runs from Al Qusais to Jaddaf.
Earlier, the RTA signed an agreement with the Dubai Land and Property Department to cooperate with each other on the issue of acquiring land needed for the expansion of existing roads and the construction of new roads in addition to the Dubai Metro.
"The Land Department will help us acquire land and decide compensation for land and property owners," said Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA.
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