2040 Master Plan: Biggest Win for Dubai Real Estate

The UAE has always focused on enhancing people’s happiness and quality of life. The Dubai 2040 Master Plan aims to create the most conducive environment and infrastructure to enhance the happiness and wellbeing of the community. International practices have been adapted to suit local needs and requirements based on global practices.

Dubai 2040 Urban Master Plan is the seventh development plan for the emirate since 1960. Between 1960 and 2020, the population of Dubai has multiplied 80 times from 40,000 in 1960 to 3.3 million while the urban and built area of the emirate increased 170-fold from 3.2 square km.

The plan provides an overview of how the emirate will be developed over the next 20 years, and envisions large-scale changes to the landscape and skyline of the city. Dubai’s urban development plan outlines a comprehensive approach to sustainable urban development. In the next 20 years, it aims to enhance people’s happiness and quality of life and strengthen Dubai as a global destination for citizens, residents, and tourists.

Since 1960, this is the seventh such plan to be implemented in the emirate. Strategically, the plan integrates all master plans for urban development in Dubai and aligns them with Dubai’s strategic vision. Dubai’s vision seeks to improve residents’ quality of life and pave the way for new economic and residential developments in the city.

According to the plan, Dubai will be divided up into five key development areas, each of which will emphasize Dubai’s strengths. Bur Dubai and Deira are the beating heart of tradition in the emirate, while Downtown Dubai and Business Bay act as its financial center.

Expo 2020 will serve as the international gateway for exhibitions and events in Dubai, while Dubai Silicon Oasis will serve as an incubator for innovation and knowledge. Dubai Marina and JBR will both lead in the city as tourism and entertainment hubs.

Along with the Vision 2040 Urban Master Plan, a range of economic initiatives and reforms have been announced over recent years, such as the retirement visa, 100% foreign ownership and others. These initiatives, coupled with continued focus on residents’ quality of life, will play a pivotal role in supporting economic growth.

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