Dubai's new urban development policy seeks to increase property value by Dh20bn

Dubai has green-lit a scheme to revamp 48 urban hubs, with the goal of lifting property values in those zones by Dh20 billion ($5.45 billion) by 2040. Crown Prince Sheikh Hamdan bin Mohammed presided over a Wednesday meeting of Dubai's Executive Council, where three policy proposals were approved. The Urban Centres Development Plan aims to create integrated communities, while the Sustainable Population Planning Policy seeks to align economic and population growth.

Sheikh Hamdan emphasized that these plans align with Sheikh Mohammed bin Rashid's vision, aiming to balance economic expansion with population growth and ensure that development benefits citizens and residents. The Urban Centres Development Plan, costing over Dh2 billion, will target six main urban hubs and 42 auxiliary centers, accounting for 12% of Dubai's urban landscape.

The plan anticipates a Dh20 billion boost in real estate values by 2040, improving metro station proximity for 22% of residents and expanding public service coverage from 74% to 85%. The council also endorsed the Sustainable Population Planning Policy, an integrated strategy linking population forecasts with economic and urban planning.

This policy aims to sustain Dubai's economic growth in line with citizens' aspirations and bolster the emirate's standing in talent and skills acquisition. Additionally, the council approved the Digital Authorisation System, a Dubai-based digital platform designed to simplify government transactions for individuals and businesses, promising a secure, fraud-free, and highly efficient experience.