Burj Khalifa's Positive Effects on Property Market

Published: 22/01/2010

The opening of the Burj Khalifa on January 4th has raised the profile of the Downtown Burj area even more so. The area is said to become one of the most exclusive districts in the world, this will cause the rental and sales values to climb further. Already prior to the opening, prices for 1 and 2 bedroom properties in the Downtown Burj neighbourhood rose by 5% over the second half of 09. There are several projects, The Lofts for example, which are due to be handed over shortly, residents and owners of which will reap the benefits of the nearby Burj on their investments. Generally the Burj will attract further interest in the emirate as a whole. Presently the average price for a 2 bedroom property in the Downtown Burj area is roughly Dh1.8million, in The Greens by comparison the price is Dh1.5million. Of course future rental and sales values in the Burj neighbourhood will also depend upon other units coming onto the market.