The Dubai 2040 Urban Master Plan is an ambitious goal has been set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched in 2021. The plan is Dubai’s seventh development plan since 1960. Additionally, new legislation and planning regulations will be developed to facilitate sustainable population expansion, from 3.3 million now to 7.8 million by 2040. The plan lays out a comprehensive vision for sustainable urban development, with a focus on improving people’s quality of life over the next 20 years.
Primary Objectives of The Dubai 2040 Urban Master Plan
The Primary objectives of The Dubai 2040 Master Plan are to:
- Upgrade Dubai’s downtown and Business Bay, Dubai Marina and JBR, Deira and Bur Dubai, and two new centers: the Expo 2020 Centre and the Dubai Silicon Oasis Centre.
- Increase the effective use of resources
- Give locals and tourists a healthy environment, create prospering, and healthy communities with double green spaces and recreational areas.
- Provide flexible and sustainable transportation options.
- Boost economic activity and attract foreign investments to new industries
- Promote environmental sustainability
- Preserve the cultural and urban heritage of the emirate and increase citizens’ connection to older communities.
- Establish a governance model and create comprehensive legislation to promote growth and sustainable development.
Key outcomes
Dubai will have accomplished the following by 2040:
- Nature reserves and rural natural regions will make about 60% of the total area of the emirate.
- The land area utilized for commercial purposes would rise to 168 square kilometers,
- The space used for hotels and tourism will expand by 134%.
- The length of public beaches will rise by up to 400%,
- The land area allotted to health and education facilities would increase by 25%.
- The service areas, residential areas, and workplaces will be connected by a number of green corridors.
- It will be easier for bicycles, pedestrians, and other sustainable modes of transportation to get around the city.
- The size of public park areas and green and recreational places will be Doubled to accommodate the increasing number of locals and tourists.
- 55% Of the population to live within 800 meters of a main public transport station
- The development and investment in five main urban centers will support the growth of economic sectors, increase job opportunities for the diverse population
- It will provide a wide range of lifestyle facilities that cater to the needs of all sections of the population.
- 1.7 billion sq. ft Of the emirate’s land dedicated to industrial and economic activities
Phases of The Dubai Master Plan 2040
The plan is being implemented in phases as follows:
Phase I: Advancing Housing and Infrastructure Development Initiatives
Phase I focuses on housing and infrastructural development, including the implementation of the National Housing Policy with a budget of AED 65 billion, and the launch of the Hatta Development Master Plan for local tourism and heritage preservation. It also involved drafting the Urban Planning Law and developing rural and countryside master plans to enhance sustainable development and tourism
Phase II: Advancing Sustainable Urban Living
Phase II includes projects under ten key initiatives, such as enhancing urban centers, a real estate strategy, an urban farming plan, preserving urban heritage, developing a 20-minute city policy aimed at residents accessing 80% of their daily needs within a 20-minute walk or bicycle ride, and a pedestrian network master plan.
What Does the Dubai 2040 Urban Plan Mean for Real Estate Investors?
The Dubai 2040 Urban Master Plan provides numerous opportunities for real estate investors hoping to profit from the city’s expansion. Firstly, with the predicted population growth, there will be an increase in demand for residential buildings, which means that investors can expect opportunities in a variety of segments, from inexpensive housing to ultra-luxury developments, catering to the diversified needs of the rising foreign community.
Then there’s the emphasis on mixed-use development. This will increase demand for commercial real estate, and investors should look into establishing retail spaces, office buildings, and community hubs to meet the requirements of both residents and companies.
And, because the plan prioritizes sustainable urban development, there will be a growing need for green technologies and environmental friendly construction techniques. Investors can capitalize on this trend by taking initiatives that match with sustainability objectives, such as energy-efficient buildings and renewable energy sources.
Final Remarks
In conclusion, The Master Plan intends to promote public transit, walking, cycling, and other flexible modes of transport, as well as the creation of a complete planning system to aid decision-making and transparency. The Hatta Development Plan, which outlines the area’s overall development, is integrated into the Dubai Urban Master Plan 2040.
The plan also aims to create integrated, sustainable housing projects that satisfy the needs of inhabitants. Integrated communities will be constructed using the greatest planning standards, including open spaces, commercial centers, and recreational facilities focused at improving human well-being. Dubai’s transformation is just beginning! Don’t miss out on the latest developments shaping the city’s future. Subscribe now for exclusive updates on the Master Plan 2040!