Dubai’s residential market could be facing a shortfall in the long-term with a projected population growth fuelling the need for a development boom.
According to a forecast by real estate consultancy Knight Frank, external drivers such as the recently announced Dubai Economic Agenda ‘D33’, which outlines a roadmap for the emirate to double its GDP by 2033, will result in a demand for human resources. The population by this stage is expected to approach six million, up from 3.5 million today, with the Dubai Urban Master Plan 2040 taking this number to 7.8 million a few years later.
Source: Zawya
