{"id":21475,"date":"2021-03-30T13:14:22","date_gmt":"2021-03-30T09:14:22","guid":{"rendered":"https:\/\/dev.spinvestment.com\/dubai-plan-2040-up-to-550000-new-property-units-required-sp-investment\/"},"modified":"2022-06-27T11:05:26","modified_gmt":"2022-06-27T07:05:26","slug":"dubai-plan-2040-up-to-550000-new-property-units-required-sp-investment","status":"publish","type":"post","link":"https:\/\/www.spinvestment.com\/es\/dubai-plan-2040-up-to-550000-new-property-units-required-sp-investment\/","title":{"rendered":"Dubai Plan 2040: Up to 550,000 new property units required | SP Investment"},"content":{"rendered":"<h2><a href=\"http:\/\/spinvestment.com\/wp-content\/uploads\/2021\/03\/Dubai2040-1.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-large wp-image-24174\" src=\"http:\/\/spinvestment.com\/wp-content\/uploads\/2021\/03\/Dubai2040-1-1024x682.jpg\" alt=\"Dubai2040\" width=\"1024\" height=\"682\" srcset=\"https:\/\/www.spinvestment.com\/wp-content\/uploads\/2021\/03\/Dubai2040-1-1024x682.jpg 1024w, https:\/\/www.spinvestment.com\/wp-content\/uploads\/2021\/03\/Dubai2040-1-300x200.jpg 300w, https:\/\/www.spinvestment.com\/wp-content\/uploads\/2021\/03\/Dubai2040-1-768x512.jpg 768w, https:\/\/www.spinvestment.com\/wp-content\/uploads\/2021\/03\/Dubai2040-1-105x70.jpg 105w, https:\/\/www.spinvestment.com\/wp-content\/uploads\/2021\/03\/Dubai2040-1.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/h2>\n<h2>Dubai\u2019s population is expected to increase from the current 3.4 million to 5.8 million by 2040.<\/h2>\n<p>Residential property demand in Dubai will remain substantially strong over the next two decades, as the emirate will require almost the double of existing supply, because of a likely increase in the city\u2019s population, according to industry analysts.<\/p>\n<p>According to the Dubai Statistics Centre, the supply of apartments and villas in Dubai is over 690,498 units as of 2020, catering to the city\u2019s 3.4 million (m) population.<\/p>\n<p>Analysts estimate that Dubai will require between 483,000 and 550,000 additional residential units over the next two decades to accommodate its estimated 5.4m population by 2040.<\/p>\n<p>The requirement of new units is estimated between 24,150 and 27,500 a year.<\/p>\n<p>Under the 2040 Urban Master Plan that was launched in early March, Dubai\u2019s population is expected to increase from the existing 3.4m to 5.8m by 2040. The emirate will have five main urban centres, including two new ones.<\/p>\n<p><iframe title=\"YouTube video player\" src=\"about:blank\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" class=\"lazyload\" data-src=\"https:\/\/www.youtube.com\/embed\/xBnLlt2A0fk\"><\/iframe><\/p>\n<p>\u201cAssuming an approximate household size of 4.9 per unit based on the population estimate of 3,411,200 from Dubai statistic centre as of 2020, around 483,550 additional units will be required by 2040. This works out to around 24,000 units per year for the next 20 years,\u201d said Prathyusha Gurrapu, Head of Research and Advisory at Core.<\/p>\n<p>\u201cDeveloping further on strong fundamentals, Dubai\u2019s 2040 Urban Master Plan reinforces Dubai\u2019s competitiveness as a global destination while creating an environment where people from around the world can thrive with sustainability, diversity and inclusiveness as key focus areas,\u201d she added.<\/p>\n<p>Taimur Khan, Associate Partner at Knight Frank, said the quantum of additional supply required over the next two decades is subjective and would be contingent on a number of quantitative and qualitative factors, some of which could see a marked change over the short to medium term.<\/p>\n<p>\u201cCurrently, the total number of residential units in Dubai stands at around 555,000. To service the total expected population level by 2040, we\u2019re likely to need this number roughly double,\u201d said Khan.<\/p>\n<p>Knight Frank estimates that the total number of apartments\u2019 units in Dubai is at around 472,000.<\/p>\n<p>Khan said developers would have to understand how household incomes could change going forward and what would be its impact on demand on new housing units.<\/p>\n<p>\u201cThe likelihood is, whilst there will be a range of opportunities for developers from the affordable to the super-prime segments of the market, the middle-income segment of the market is likely to require the most significant quantum of supply to be delivered,\u201d Khan added.<\/p>\n<p><a href=\"https:\/\/www.khaleejtimes.com\/business\/real-estate\/dubai-plan-2040-up-to-550000-new-property-units-required\">Source<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Dubai\u2019s population is expected to increase from the current 3.4 million to 5.8 million by 2040. Residential property demand in Dubai will remain substantially strong over the next two decades, as the emirate will require almost the double of existing supply, because of a likely increase in the city\u2019s population, according to industry analysts. According to the Dubai Statistics Centre, the supply of apartments &#8230;<\/p>","protected":false},"author":1,"featured_media":24174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[58],"tags":[],"class_list":["post-21475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.1 (Yoast SEO v25.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dubai Plan 2040: Up to 550,000 new property units required | SP Investment - SP Real Estate Investment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.spinvestment.com\/es\/dubai-plan-2040-up-to-550000-new-property-units-required-sp-investment\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai Plan 2040: Up to 550,000 new property units required | SP Investment - SP Real Estate Investment\" \/>\n<meta property=\"og:description\" content=\"Dubai\u2019s population is expected to increase from the current 3.4 million to 5.8 million by 2040. Residential property demand in Dubai will remain substantially strong over the next two decades, as the emirate will require almost the double of existing supply, because of a likely increase in the city\u2019s population, according to industry analysts. 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