The area of ‘New Dubai’ continues to prove a popular choice for expatriates who work in Abu Dhabi. Industry experts say that despite the release of new residential units in the UAE capital, many residents choose to stay in Dubai and commute. The ‘New Dubai’ area of the city has enjoyed a huge boom in recent years, and residential zones here include Dubai Marina, Jumeirah Lake Towers, Jumeirah Beach Residence and Tecom, which is home to three of The First Group’s prestigious hotel apartment projects. New Dubai’s close proximity to Abu Dhabi, at less than an hour away via Sheikh Zayed Road, makes it an excellent base for the capital’s commuters.
“While the release of new properties will allow for more breathing space within the Abu Dhabi property market, I don’t believe it will affect Dubai property prices, nor would it drive people working in Abu Dhabi/living in Dubai to move back,” commented Rajkumar Vaswani, Residential Leasing Consultant, from real estate company Better Homes.
“Attractive rents in new Dubai and the good lifestyle will remain lucrative factors for tenants and they may not consider moving out,” he told Dubai’s Gulf News. “The majority of tenants, who work in Abu Dhabi still choosing to live in Dubai, do so because of the mature communities within which they escape from their stressful work and commute environments.”