Meydan Launches World’s Tallest Residential Tower In Dubai And Provides Momentum To Real Estate Sector
- August 4, 2015
- Posted by: RKonnect
- Category: Real Estate
In yet another exciting move in Dubai’s Real Estate sector, Meydan Launches World’s Tallest Residential Tower to provide much needed boost to fast maturing Real Estate sector of the Emirates. When completed near around 2020, Meydan One Project, one of its kind residential and hospitality developments in Dubai, comprising of3.67 million square metre mixed-use development will break multiple records.
Key Features of Meydan One Project
- Meydan One will become world’s tallest residential tower (711 m tall) and will overtake the World One in India (442 m tall) due to be competed by 2016
- Meydan One will become world’s highest 360-degree observation deck at 665 m and will overtake At the Top Sky in Burj Khalifa (555 m)
- Meydan One will have world’s longest indoor ski slope at 1.2 km and will overtake skiing facility at Alpin Center in Bottrop, Germany (640 m)
- Meydan One will have world’s largest dancing fountain that will be 400 m long and will overtake the Fountain in Dubai Mall (275 m)
- Meydan One will also develop Marina Yacht Club that will have 4km canal and a marina with 100 berths, 300 restaurants and cafes
- Meydan One will have 885 residential apartments and a five-star hotel featuring more than 300 rooms
- Meydan One will have indoor sports facility on an area of 25,000 sq.m with bicycle and jogging trails
Dubai Real Estate Sector Outlook – 2015
With the launch of such a high magnitude residential and hospitality project, the outlook for Dubai’s Real Estate sector for 2015 is ought to receive positive momentum ahead of Cityscape Global 2015 event, which is going to be held next month. Cityscape is the most respected real estate event in the region attracting potential local, regional and capitalize from potential investment opportunities in the real estate sector. global investors to invest in Dubai properties and
The launch of Meydan One Project will not only renew confidence of investors with regards to buying properties in Dubai but also provide the much-needed stimulus to the Dubai’s Real Estate market, which have crossed DH 128 billion in terms of real estate transactions, in the first half of 2015 (Property Sales – DH 53 billion and Mortgages – Dh 65 billion).
FDI Confidence Index – UAE projected to be in Top 10 Countries
In 2014, UAE ranked 11th on A.T. Kearney’s Foreign Direct Investment (FDI Confidence Index). UAE is likely to enter Top 10 Countries in (FDI Confidence Index) due to Government’s decision to de-regularized fuel prices as a result of which there will be economic growth in the country. As a result of economic growth in the country,there will be lot more investment in the country more particularly in Real Estate, Hospitality, Tourism and Retail sectors.
Projections – Real Estate Sector
Though some experts fear another bubble on the route, it is believed that the Dubai Government will keep speculative forces under control. As most of the key sectors of Dubai’s economy appears buoyant, further positive news should follow in real estate sector as well, on the backdrop of increasing local and tourist population, growth in hospitality, tourism and retail sectors combined and commencement of works on the EXPO 2020 site.
This research report is compiled by Research Konnection Team; a Dubai based market research and business consulting firm that is focused on providing strategic advice to Investors. If you are looking for more detailed analysis on Dubai’s Real Estate Sector or want us to prepare feasibility study, then feel free to contact us on firstname.lastname@example.org.