Dubai Property Investment News

Record numbers pass through Dubai International Airport

Record numbers pass through Dubai International Airport

Dubai International was the fastest growing airport in the world last year, with growth of 19.31%. In addition to the rising number of holidaymakers, many of these passengers will be part of the growing population of the emirate: the population is expected to imminently reach 2 million, having risen from 1 million in 2001.

Last year, a total of 34.34 million passengers went through Dubai International, exceeding the forecast number of 33 million. The President of Dubai Civil Aviation Authority (DCAA), His Highness Sheikh Ahmed bin Saeed Al Maktoum, said that the growth was “a reflection of Dubai’s robust economy, and its rising popularity as an international commercial and tourism hub.” He added that the number of passengers passing through the airport this year is expected to reach 40 million.

As the number of people travelling to and from Dubai increases – whether they are holidaymakers, expatriates or second-home owners – so the demand for property rises. Although there is a large stock of property under construction or in the planning stages, investors in Dubai property have noted the rising property prices as the lack of completed units becomes apparent.

While the emirate’s authorities celebrate the news, the Dubai Police Chief has voiced concerns over the potential effects of low-cost carriers serving the region, including rising crime. The emirate’s reputation is that of an upmarket destination, and Lieutenant General Dahi Khalfan Tamim is concerned that budget air passengers will not “bring any advantages to the country”, as well as potentially increasing violations of the residency law.

Also this month, plans for the latest man-made islands to be built off the coast were announced. ‘The Universe’ will include representations of the sun, the moon and other planets. The project is the work of Nakheel, the developer behind the Palms, and the company has made assurances that its work will focus on sustainability and minimising the impact on the environment.

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