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Dubai Property Investment News
Dubai airport nears takeoff
UK investors considering buying into property in the sunny climes of Dubai will be glad to hear that excellent progress is being made on its new airport.
Dubai World Central International Airport (JXB) will, when completed, be the largest airport in the world and is set for a summer 2008 opening.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Aviation Corporation, said that the first of six planned runways at the $8.1 billion airport would soon be ready for operations.
"Over 70 per cent of JXB's first four and a half kilometre CAT III runway is complete with the target month for completion set for October 2007.
"The progress, achieved in just over a year, is a reflection of Dubai government's commitment to the region's burgeoning aviation infrastructure development."
The airport is sure to attract increased tourist revenue to the beautiful emirate, with property prices likely to experience a boost when JXB opens.
The news follows new research from the Middle East Economic Digest, which reported that demand for Dubai property would continue to outstrip supply - while 175,000 residential properties will be available by 2010, demand for around 181,000 should exist.
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