The creation of a new passenger terminal at Al Maktoum International Airport in Dubai could transform the lives of many in neighbouring areas. Photo: Dubai Government via AP
The creation of a new passenger terminal at Al Maktoum International Airport in Dubai could transform the lives of many in neighbouring areas. Photo: Dubai Government via AP
The creation of a new passenger terminal at Al Maktoum International Airport in Dubai could transform the lives of many in neighbouring areas. Photo: Dubai Government via AP
The creation of a new passenger terminal at Al Maktoum International Airport in Dubai could transform the lives of many in neighbouring areas. Photo: Dubai Government via AP

Dubai South set to boom as Al Maktoum International Airport plan transforms city


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Plans for a new Dh128 billion ($34.8 billion) terminal will result in much more than just a new-look airport in Dubai, according to experts.

The entire make-up of the city could be transformed when the plans for the airport come to fruition, they said.

When Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced the project on Sunday he said "an entire city" would be built around the airport.

Property and education experts told The National the Dh128 billion project had the potential to transform the lives of many in the emirate.

From this week onwards there will be a lot of market activity in these areas
Paul Kelly,
Allsopp and Allsopp real estate

Property experts agreed the news of the new airport had put the Dubai South area firmly back in the spotlight.

"I expect to see infrastructure improvements and increased commercial developments including new hotels and dining options which could attract millions to relocate to the surrounding areas," said Paul Kelly, operations director at the estate agency Allsopp and Allsopp.

"Additionally, with the Expo site being relatively close by, the ongoing redevelopments and communities that are being built around the area, we can expect to see growing attraction and demand in the community.

"I think most people in the market for home ownership or investment will be taking a renewed look at Dubai South this week."

He added that property prices in the area would inevitably rise as the airport project gets closer to completion.

"We expect to see property prices rising in Dubai South and the surrounding areas in the years to come," said Mr Kelly.

"Over that time, there may be some ups and downs, as we would expect in any market, but the trajectory over 10 years will be upwards with all the developments, infrastructure, and entertainment venues.

"It’s only going one way and that is why, from this week onwards really, I expect there will be a lot of market activity in these areas."

Once complete, Al Maktoum International Airport will have "the world's largest capacity", reaching up to 260 million passengers.

It is projected to be five times the size of the current Dubai International Airport, which is currently ranked top globally for international passenger traffic.

"The government has already said that they are expecting one million [people] to live and work in the area close to the new airport, so that must mean more properties [will be built] to address the demand," said Steven Leckie, associate director for off-plan and investment with the property firm Haus & Haus.

The news of the investment in the airport means similar development in the area around the airport is inevitable, he added.

Mr Leckie predicted there would be significant investment in new properties in the Dubai South area, but that did not necessarily mean those already living in the area could expect an immediate surge in rental prices.

"I am sure we will see some new communities; we already know that Damac Lagoons 2 will be launched there shortly," he said.

"I expect people will not be asked to pay more to live there (Dubai South) in the short term as the new airport is a massive project and will take years to complete."

It was only at the start of this month that Dubai South Properties launched the fourth phase of its South Bay waterfront development after selling out the first three phases, which includes more than 600 villas.

Launched in 2022, South Bay based in Dubai South's Residential District includes more than 800 villas and town houses and more than 200 waterfront mansions. Dubai South
Launched in 2022, South Bay based in Dubai South's Residential District includes more than 800 villas and town houses and more than 200 waterfront mansions. Dubai South

Major growth predicted

Education bodies in Dubai are also keeping a close eye on developments in the Dubai South area, as they expect it will experience major growth in the coming years.

"As Dubai South emerges as a vibrant urban hub adjacent to the airport, Taaleem is collaborating with strategic partners and government entities to develop additional educational facilities post-2027," said Sam Truman, chief operating officer of schools group Taaleem.

"This proactive planning aims to accommodate the growing residential demands of this swiftly developing area."

It will not just be people in Dubai South who reap the benefits of the community's expansion but also those nearby, according to the principal of a school in neighbouring Dubai Investments Park (DIP).

"The announcement about the new airport will only increase the number of families coming to Dubai," said Leigh Girven, principal at Greenfield International School, who is expecting to see a boom in the number of pupils in years to come.

"We are looking forward to welcoming those new families and we are making sure that our school can meet the needs of those students when they arrive."

The airport’s development will attract new opportunities for businesses to thrive in the area, she said, which in turn would create opportunities for work experience and other projects for pupils.

Meydan racecard:

6.30pm: Al Maktoum Challenge Round 2 (PA) Group 1 | US$75,000 (Dirt) | 2,200 metres

7.05pm: UAE 1000 Guineas (TB) Listed | $250,000 (D) 1,600m

7.40pm: Meydan Classic Trial (TB) Conditions $100,000 (Turf) 1,400m

8.15pm: Al Shindagha Sprint (TB) Group 3 $200,000 (D) 1,200m

8.50pm: Handicap (TB) $175,000 (D) 1,600m

9.25pm: Handicap (TB) $175,000 (T) | 2,000m

10pm: Handicap (TB) $135,000 (T) 1,600m

Race%20card
%3Cp%3E6pm%3A%20Al%20Maktoum%20Challenge%20Round%201%20%E2%80%93%20Group%201%20(PA)%20%2450%2C000%20(Dirt)%201%2C600m%3Cbr%3E6.35pm%3A%20Dubai%20Racing%20Club%20Classic%20%E2%80%93%20Handicap%20(TB)%20%24100%2C000%20(D)%202%2C410m%3Cbr%3E7.10pm%3A%20Dubawi%20Stakes%20%E2%80%93%20Group%203%20(TB)%20%24150%2C000%20(D)%201%2C200m%3Cbr%3E7.45pm%3A%20Jumeirah%20Classic%20Trial%20%E2%80%93%20Conditions%20(TB)%20%24150%2C000%20(Turf)%201%2C400m%3Cbr%3E8.20pm%3A%20Al%20Maktoum%20Challenge%20Round%201%20%E2%80%93%20Group%202%20(TB)%20%24250%2C000%20(D)%201%2C600m%3Cbr%3E8.55pm%3A%20Al%20Fahidi%20Fort%20%E2%80%93%20Group%202%20(TB)%20%24180%2C000%20(T)%201%2C400m%3Cbr%3E9.30pm%3A%20Ertijaal%20Dubai%20Dash%20%E2%80%93%20Listed%20(TB)%20%24100%2C000%20(T)%201%2C000m%3C%2Fp%3E%0A
Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

Tickets

Tickets for the 2019 Asian Cup are available online, via www.asiancup2019.com

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

The specs

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed

Power: 720hp

Torque: 770Nm

Price: Dh1,100,000

On sale: now

INFO

The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
​​​​​​​Princeton

Rooney's club record

At Everton Appearances: 77; Goals: 17

At Manchester United Appearances: 559; Goals: 253

Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press

What is Reform?

Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.

It was founded in 2018 and originally called the Brexit Party.

Many of its members previously belonged to UKIP or the mainstream Conservatives.

After Brexit took place, the party focused on the reformation of British democracy.

Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.

The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.

CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
Top financial tips for graduates

Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:

1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.

2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.

3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.

4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.

RESULT

Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')

Updated: April 30, 2024, 7:45 AM