New Dubai Metro Stations Could Lift Land Values By 15 To 30%, Says RTA Chief

(MENAFN- Khaleej Times) Land values around future Dubai Metro stations could increase by 15 to 30 per cent, according to Mattar Al Tayer, director general, chairman of the Board of Executive Directors of Dubai's Roads and Transport Authority (RTA).

Al Tayer said that several studies must be completed before RTA decides where to build a new Metro station. "Studies related to future lines and stations were currently under way,"

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His comments came as RTA moves ahead with two major Metro projects: the Blue Line and the Gold Line. Together, the projects have an estimated cost of approximately Dh55 billion.

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Al Tayer made the comments during a press conference announcing the inaugural RailX Dubai Conference and Exhibition.

According to the RTA, an increase in land value also push up property prices around a Metro station, although the impact may vary by location and type of property.

The Blue and Gold Lines will expand Dubai's Metro network by 80 per cent. Its total length will increase from 90km today to 162km by 2032.

The Blue Line (30km) is scheduled for completion in 2029, while the Gold Line, (42 km), is expected to be completed in 2032.

“RTA is currently implementing the Dubai Metro Blue Line project, while the tender for the Dubai Metro Gold Line project is scheduled to be issued by the end of this year,” said Al Tayer.

He added that the projects were being developed according to fixed plans and timelines.

“Dubai Metro projects are delivered to the highest international standards, according to clear plans and precise timelines,” said Al Tayer.

The projects are being overseen by Emirati engineers and experts working with specialists from around the world. According to Al Tayer, their combined experience exceeds 2,500 years.

He said that rail networks support economic growth by connecting communities and markets. They also help cities grow, improve sustainability and make daily travel easier for residents and visitors.

Dubai Metro currently accounts for 40 per cent of all public transport journeys in the emirate. It has carried nearly three billion passengers since operations began on September 9, 2009

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