Dubai Metro Green Line to boost rental rates

07/09/2011 - Dubai Property News Posted by Neil King
Dubai Metro Green Line to boost rental rates

Property investors with rental units in Dubai have seen the notion that the new Metro Green Line will boost rents reiterated by one industry commentator.The launch of the metro system has seen 18 new stations opened around the emirate, and Elaine Jones, chief executive of Asteco, has claimed that properties near the hubs will now be able to command higher rents.She commented: "The Dubai Metro has added a whole new market dynamic and as the network is rolled out across the emirate, the rental disparity will become even more pronounced than it is already."According to Ms Jones, the new stations, 16 of which are already functioning, could boost rent by as much as 25 per cent for some property owners.The firm claimed that a small property in Deira within walking distance of the Green Line could now be rented for around Dh50,000 per year, compared to a property farther away, which could be leased for Dh40,000.