Real estate developers reported that the “Pedestrian Friendly Dubai” project initiative will enhance the quality of life in the emirate and increase its attractiveness to foreigners, which will reflect positively on all economic sectors, especially the real estate sector. They pointed out that the initiative increases Dubai’s attractiveness to real estate investors, whether residents or non-residents. Coming from abroad.
They confirmed to Emirates Today that the initiative contributes to changing the map of the real estate sector, as old areas are witnessing an improvement in their real estate value, as a result of new modernizations, while modern areas will continue to attract investments, due to their compatibility with sustainable development visions.
They pointed out that the initiative, recently launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, aims to make walking a part of the lifestyle in Dubai, by establishing an integrated walking network that includes 112 kilometers of Waterfront trails, 124 km of green hiking trails, and 150 km of rural and mountain pedestrian trails.
Dubai is pedestrian friendly
In detail, the CEO of Harbor Real Estate, Muhannad Al Wadiya, said, “The (Pedestrian Friendly Dubai) initiative and the bicycle paths are in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, to make Dubai A sustainable city, and all its residents are happy, whether they are citizens or residents, and this is an integral part of Dubai’s economic and urban vision 2040, and also part of the Dubai Real Estate Strategy. 2033,” explaining that this initiative will have a major impact and great importance for achieving Dubai’s urban, economic, real estate, and even societal strategy.
Al-Wadiya added that real estate developers must contribute to achieving this initiative through their projects, and every project that is proposed must include a complete study of the issue of facilities and easy access to them on foot, pointing out that in the past, Dubai was a city that was more friendly to cars than to pedestrians, but this thing was Over the past decades, and in the future, this vision will change to make Dubai pedestrian-friendly.
He explained that the Dubai Roads and Transport Authority, the Dubai Land Department, the Real Estate Regulatory Agency and the municipality all contribute to achieving this vision, pointing out that “the areas that will benefit from this initiative are the new areas, and there will be some challenges in the old areas, but Dubai, as it created The metro network is very skilled, speedy and professional. It can accomplish the same thing with pedestrian channels, even in the old areas.”
Primary goal
For his part, CEO of Malak Real Estate, Tariq Ramadan, said: “Dubai has set clear visions, plans, and goals between the Dubai Economic Agenda 2033 and Dubai Vision 2040, and all of these plans and visions are based on the primary goal, which is to make Dubai the best city for housing.” Living, in addition to many other goals emanating from this supreme goal, is based on attracting investments, creating an integrated economic environment, investing in sustainability, and making the lives of citizens and residents in Dubai a better life. An ideal that competes with all the developed countries of the world and others.”
Ramadan explained that the pedestrian-friendly Dubai initiative comes among many initiatives undertaken by the Emirate of Dubai to increase the area of water views, and provide running, walking and cycling paths, in addition to initiatives related to the real estate sector, such as the golden visa for the purpose of encouraging real estate investment, stressing that “all of these initiatives increase the attractiveness of… Dubai for real estate investors, whether for residents or from abroad.”
He added, “There are specific areas that are suitable for such initiatives, especially new areas, but the Emirate of Dubai is keen to ensure that these initiatives include basic and old areas in Dubai, such as Jumeirah Road and the Emirates Towers area. Dubai always sets visions that entail great challenges, but Dubai is our habit to… Achieving these visions and the goals emanating from them, and we see that this is reflected in all economic sectors, especially the real estate sector.”
Attractive projects
For his part, Chairman of the Board of Directors of Alwaleed Investment Company, Mohammed Al-Mutawa, said: “The projects and initiatives launched by Dubai are attractive and strong, especially the Dubai pedestrian-friendly initiative. I suggest that most of the areas included in the initiative be air-conditioned, and there are countries such as Hong Kong and Singapore that have tunnels.”
Underground air conditioning,” pointing out that, for example, a pedestrian tunnel could be constructed under Sheikh Zayed Road, from its beginning to the end of the street.
Al-Mutawa added, “The Dubai project is friendly to pedestrians in the new areas. It will be implemented in external areas above the ground, but in the old places it is preferable to be underground,” stressing that this project is good and will have a positive impact on the real estate sector, and it will be an attraction for the places that will be located. It is available, and it is expected to cover most places in Dubai.
Real estate sector
In turn, real estate expert Firas Alfa said, “Dubai’s transformation into a pedestrian- and bicycle-friendly city will change the map of the real estate sector, as old areas will witness an improvement in their real estate value as a result of new modernizations, while modern areas will continue to attract investments because of their compatibility with sustainable development visions.”
Alpha expected that the initiative would increase the value of commercial real estate, adding that “the presence of infrastructure that supports easy transportation, on foot or by bicycle, will increase the attractiveness of commercial areas, which will enhance investment in them and raise their market value.”
He revealed that the availability of safer infrastructure and closer services means a suitable environment for families and residents, which increases real estate stability in developed areas.
Regarding the areas that will benefit from the project, Alpha stated that “older areas will greatly benefit from the new initiative, such as Deira and Bur Dubai, if their infrastructure will be improved to include bicycle and pedestrian paths.”
He stressed that “these modernizations will revive these areas and make them more competitive, compared to modern areas, pointing out that major projects such as (Downtown Dubai, City Walk, and Jumeirah Residences) are already designed to accommodate advanced infrastructure, and the project will enhance their attractiveness as integrated destinations for housing, work, and entertainment.” .
He pointed out the benefit of new development areas such as (Dubai South), which can easily accommodate plans, making them more efficient in attracting investments.
Distinctive approach
Chairman of the Board of Directors of On Plan Real Estate, Ahmed Al-Dawla, said: “Dubai’s trend towards projects and urban movement, to become pedestrian-friendly, is a distinct approach, as it facilitates individuals’ access to vital, commercial, office and work areas.” The state added that this trend reduces the ongoing traffic congestion on Sheikh Zayed Road, and this is an essential step for the region. He stressed that the areas benefiting from this initiative are the Emirates Towers, the Dubai World Trade Center, all the way to the “Downtown” area, the Zabeel and Jumeirah areas, and nearby areas. From the metro stations, and the Jaddaf area, and he indicated that the biggest beneficiary of this transformation is the Jaddaf area, which will be one of the distinctive areas.
. The initiative contributes to changing the map of the real estate sector, as old areas will see an improvement in their value, while modern areas will continue to attract investments.
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