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Last modified on 24th August 2020. Dubai Real Estate Blog
Whether it is the world’s largest shopping mall, The Dubai Mall, or rustic street size shopping, Dubai offers a diverse shopping experience. These shopping destinations have a strong influence on the Dubai property market. They impact tourism and also the growth of a locality.
Off plan and ready to occupy projects
If you look at the most popular Dubai property developers, many offer communities with shopping centres as one of the main amenities. Several residential properties are built close to popular shopping malls. These are often the areas where real estate grows at a fast pace. Dubai properties located near the malls, also tend to be some of the most expensive ones.
Great for the rental value
Shopping festivals like the extravagant ones that Dubai often hosts tend to influence the economy positively. Dubai Mall also has a reputation for hosting such globally popular shopping events. These are times when the short term rental market in the city shoot up. To avoid the hassle of traffic, many tourists choose a Dubai property located close to the shopping malls in areas like downtown, Al Barsha, and the off plan Dubai Hills Estate where the shopping festivals take place. People who pick buy to let properties benefit from such short term rental options. These are also the properties that can fetch some huge rental returns, consistently.
Ease of commute
One other significant benefit of picking a property in the vicinity of a shopping mall is that these are well connected with the rest of the city through multiple modes of transport. Due to many such benefits, purchasers pick an apartment close to the shopping malls. This is one main reason why even a less popular area soon becomes a boom in the real estate sector when a shopping mall comes up. As there are plenty of world-class malls in Dubai, these have all contributed a great deal to the increasing popularity of the various neighbourhoods. These have, in turn, increased the value of the property market in the city.