Dubai South Properties will develop a new residential community along the Expo Road that is strategically located for easy access to and from the wider city.
The South Bay master development at The Residential District of Dubai South will comprise more than 800 villas and more than 200 waterfront mansions, the company said on Tuesday, according to a statement by the Dubai Media Office.
The value of the development, however, was not disclosed.
While sales will begin in September, customers can start registering their interest now, with more information on the project to be announced in due time, the statement said.
“The launch of South Bay comes in light of our successful sell-out of all the residential projects we had launched over the past few years," a spokesman from Dubai South Properties said.
"With the Expo site now transforming into Expo City Dubai by October and based on the huge demand for premium properties in the area, this project will be an ideal option for those seeking quality living with world-class amenities at competitive prices."
Dubai's real estate sector has strongly rebounded from the effects of the Covid-19 pandemic. Real estate transactions totalled 6,652 in May, which was the highest volume in the past decade, the Dubai Land Department (DLD) said last month.
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In the first quarter of 2022, Dubai registered 25,972 property transactions, the highest number of quarterly deals since 2010, DLD said in April. The January-to-March period recorded a total of 20,539 sales transactions worth Dh55.51 billion ($15.11bn).
Investing in Dubai's property market will also become easier after the DLD and Emirates NBD, Dubai's biggest bank by assets, said on Monday that they have partnered to digitise and automate financial transactions in the emirate's property sector.
The South Bay development will feature town houses and semi-detached villas with three, four and five bedrooms, while the stand-alone waterfront properties will offer villas that have five, six and seven bedrooms, Dubai South Properties said.
A mall, fitness complex, swimming pools, water sports club, cafes, pet park, lake park and children's amenities, among others, will also be available.
Here are 10 things staying as Expo 2020 Dubai comes to an end
The new development will also leverage its proximity to the Expo 2020 Metro station, the line on which it is was specifically built to access that part of Dubai South, offering a viable public transport option for those coming from the main city.
The six-month global fair ended in March, but its legacy will carry on with its transformation into Expo City Dubai. The site, which is being touted as a car-free sustainable city, will retain a number of attractions and pavilions, aside from the residential properties and hotels already in place.
Dubai South is the emirate's largest single urban master development focusing on an aviation and logistics ecosystem that is home to the Al Maktoum International Airport.
Its free zone, meanwhile, offers a dynamic business environment, offering a wide range of business solutions customised to meet the requirements of investors.
