07 April 2023, Gulf News
Sustained property demand gains wends its ways across further reaches of the city.
If you are looking to invest in prime real estate, the road to success is often paved with traffic.
Through the flurry of daily life, many cities have embraced road traffic as an inevitable part of their vibrant atmospheres. While it seems frustrating at times, the presence of traffic is often a marker for some of the best areas within modern urban centers.
Therefore, vehicular activity on the roads is not just a congestion, but also a blessing in disguise.
Traffic congestion is often caused by a number of factors, including the increase in population. 2022 was a record-breaking year at Dubai International Airport, with passenger numbers surging an incredible 127 per cent to 66 million. This growth was capped by a strong Q4-22 when 19.7 million travellers passed through, representing a 67 per cent increase compared to 2021’s final quarter.
In 2022, Dubai was faced with longer travel times on the roads. An average journey of 10 kilometres took an extra 20 seconds to complete compared to the previous year.
World’s most expensive cities boast busiest roads
From bustling Hong Kong to glamorous Paris, some of the world’s most expensive cities are not only renowned for their high property prices but also their remarkable levels of traffic. Other notable real estate hotspots include Singapore, Shanghai, New York City and London, all of which have a common factor in sky-high housing prices and heavy traffic arteries.
Sign of economic progress
Even though traffic can be a nuisance for many, it is a strong indicator of growth and prosperity. Luxury areas are often the busiest—no area with significant development could exist without its fair share of roadways and congestion.
Three years ago, Dubai’s Umm Suqeim, Hessa Street, and Al Khail roads all enjoyed relative tranquility. However, the recent surge of residential communities has added vibrancy to these areas, attracting more visitors that have transformed them into bustling landscapes.
Dubai is experiencing a surge in popularity everywhere, evidenced by the escalating traffic density throughout its most sought-after neighborhoods. Once packed only during peak hours, Sheikh Zayed Road, Dubai Marina and Downtown now boast congested roads day and night, signifying that these hubs are quickly becoming focal points for those looking to lay roots in the city.
Palm Jumeirah has also seen a fresh influx of inhabitants, making it another popular residential hotspot within this captivating metropolis.
An indicator of investment potential
Road traffic can be a useful metric to consider when evaluating promising real estate investment opportunities. It provides insight into the demand of an area, allowing investors to make informed decisions and tap into lucrative markets.
From the iconic Mohammed Bin Rashid City to Emaar Beachfront and Expo City Dubai, real estate developments in Dubai are primed to take centre-stage. Other upcoming projects such as One Za’abeel, Meydan One and Dubai Creek Harbour will further traffic while adding appeal for residents and tourists.
With bustling roads and highways, Dubai is proving its strength as an up-and-coming economic powerhouse. Traffic signals a growing economy that continues to thrive despite challenging times.